Condonation of delay under Section 119(2) (b) of the IT Act, 1961

Introduction

In India, Income Tax Return is a form in which a person is supposed to submit the tax to the Income Tax Department of India. It contains all information about the person's income and the taxes paid on it during the Financial Year. Information filed in ITR should concern with a particular financial year or starting on 1st April and ending on 31st March of the next year.

Forms of Income Tax Act

Income Tax Returns can be of several forms but some are as follows:

• Income from salary

• Profits and gains from business and profession

• Income from house property

• Income from capital gains

• Income from other sources like dividends, interest on deposits, royalty income, etc.

The Income Tax Department has set down 7 types of ITR forms - ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, ITR-7, and applicability of the form which will depend upon the nature and amount of income and the type of taxpayer.

Below is the list of ITR forms that are most commonly applicable:

Condonation of delay under section 119(2) (b) of IT Act

In consideration of difficulties reported by the taxpayers and other stakeholders in the e-filing Form No. 10A, The Central Board of Direct Taxes (CBDT) exercises its power. Section 119 of the Income Tax Act, 1961 extended the due date for filing form no. 10 A which needed to be filed on or before 30th June 2021 to 31st August 2021 by Circular Notification Number 12/2021 Dated 25th June 2021 and further extended to 31st March 2022 by Circular Notification Number 16/2021 dated 29th August 2021.

Representations have been received by the Central Board of Direct Taxes stating that Form Number 10 A in some cases could not be filed by 31st March 2022. It has been requested that the delay in filing Form Number 10 A in such cases may be overlooked.

On Consideration of the matter, intending to avoid genuine hardship in such cases, the Central Board of Direct Taxes, in the exercise of the Powers conferred under section 119 (2) (b) of the Income Tax Act, 1961 at this moment condones the delay up to 25th November 2022 in filing form number 10 A under section 12A (ac) (i) or section 10 (23 C) or section 80G (5) (i) or fifth proviso to section 35 (1) of the Income Tax Act, 1961 which was needed to be made electronically on or before 31st March 2022.

Conclusion 

It concluded that in India, Income Tax Return is a form in which a person is supposed to submit the tax to the Income Tax Department of India. It contains all information about the person's income and the taxes paid on it during the Financial Year. , the Central Board of Direct Taxes, in the exercise of the Powers, conferred under section 119 (2) (b) of the Income Tax Act, 1961 at this moment condones the delay up to 25th November 2022 in filing form number 10 A under section 12A (ac) (i) or section 10 (23 C) or section 80G (5) (i) or fifth proviso to section 35 (1) of the Income Tax Act, 1961 which was needed to be made electronically on or before 31st March 2022.

eStartIndia is one of the leading cloud-based platforms that help you to file your ITR (Income tax return) without any hassle at a very affordable cost.

Author:

Radhika Punani
Ambala
I am Radhika from Ambala city. I qualified LLM from Kurukshetra University and B.A.LLB from Maharishi Markandeshwar University