298th Issue of “Tax Connect”
Table of Contents
Tax Calendar
| Due date | LATE FEE WAIVED TILL | Form/Return/Challan | Reporting Period | Description |
| 20th May 2021 | 04th June 2021 | GSTR-3B | April 2021 | Due Date for furnishing Summary of Outward & Inward Supplies for taxpayers whose aggregate turnover is more than Rs. 5 Crores |
| 20th May 2021 | 19th June 2021 | GSTR-3B | April 2021 | Due Date for furnishing Summary of Outward & Inward Supplies for taxpayers whose aggregate turnover is up to Rs. 5 Crores (Monthly) |
| 20th April 2021 | 20th May 2021 | GSTR-3B | March 2021 | Due Date for furnishing Summary of Outward & Inward Supplies for taxpayers whose aggregate turnover is up to Rs. 5 Crores (Monthly) |
| 20th May 2021 | GSTR-5 | April 2021 | Due Date for furnishing summary of inward and outward supplies for Non-Resident Foreign Taxpayers | |
| 20th May 2021 | GSTR-5A | April 2021 | Due Date for furnishing summary of inward and outward supplies for Non-Resident OIDAR Service Providers | |
| 22nd May 2021 | GSTR-3B | Jan-March 2021 | Due Date for furnishing Summary of Outward & Inward Supplies for taxpayers whose aggregate turnover is below Rs. 5 Crores (Quarterly)* |
*States- Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union Territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and the Nicobar Islands and Lakshadweep
Income Tax
Notifications
CBDT Notifies Cash Payment Received During Covid Period By Any Medical Institutions
OUR COMMENTS: The Ministry of Finance, Government of India, Central Board of Direct Taxes vide Notification No. 56/2021 dated 07.05.2021 notified that any Cash payment against medical treatment in Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients for the purpose of Section 269 ST of the Income-tax Act, 1961 for payment received in cash during 01.04.2021 to 31.05.2021, on obtaining the PAN or AADHAAR of the patient and the payer and the relationship between the patient.
[For further details please refer to the notification]
CBDT Notifies ‘Ministry of Economy And Finance of Republic of Korea’ As Sovereign Wealth Fund
OUR COMMENTS: The Ministry of Finance, Government of India, Central Board of Direct Taxes vide Notification No. 63/2021 dated 13.05.2021 has notified ‘Ministry of Economy and Finance of Republic of Korea’ as sovereign wealth fund under sub-clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961.
[For further details please refer the notification]
CBDT Notifies ‘Public Sector Pension Investment Board’ As Pension Fund
OUR COMMENTS: The Ministry of Finance, Government of India, Central Board of Direct Taxes vide Notification No. 64/2021 dated 13.05.2021 has notified ‘Public Sector Pension Investment Board’ as Pension fund.
[For further details please refer to the notification]
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