CBDT has issued a Corrigendum to Notification No 35/2020 dated 24.06.2020 regarding extension of time limits under the Income-tax Act, 1961 and related Acts vide Notification No. 39/2020 dated 29.06.2020.
In this article, it was discussed that there was a drafting error in the Notification in clause (v) of the first proviso. Clause (v) used ‘section 54 or 54GB referred to in item (I) of sub-clause (i) of clause (c) of sub-section (1) of section 3 of the Ordinance or sub-clause (ii) of the said clause……..’ instead of section 54 to 54GB as used in the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.
This error is now rectified and it is stated that “in line 30, for “section 54 or 54GB” read “sections 54 to 54GB”.
Clause (v) of the first proviso to Notification No. 35/2020 now reads as follows-
(v) section 54 or to 54GB referred to in item (I) of sub-clause (i) of clause (c) of sub-section (1) of section 3 of the Ordinance or sub-clause (ii) of the said clause, the end date in respect of the time limit for the completion or compliance and the end date for making the said completion or compliance, shall be the 29th day of September, 2020 and the 30th day of September, 2020 respectively
Similarly, one more correction is made in Clause (vi) of the first proviso to Notification No. 35/2020 and it is stated that “in line 35, for “sub-clause (i)” read “sub-clause (i) of clause (c) .” It now reads as below-
(vi) any provisions of Chapter VI-A under the heading “B.- Deductions in respect of certain payments” thereof, referred to in item (I) of sub-clause (i) of clause (c) of sub-section (1) of section 3 of the Ordinance, the end date in respect of the time limit for the completion or compliance and the end date for making the said completion or compliance, shall be the 30th day of July, 2020 and the 31st day of July, 2020 respectively; and
Download Copy of Notification No. 39/2020 dated 29.06.2020 on Corrigendum to Notification No 35/2020 dated 24.06.2020
Further Readings:
Analysis of new extended due dates as per CBDT Notification under direct taxes
CBDT further extends return filing due date and others from June 30
1 Comments
The Assesse has sold a Residential House on May 2018 having Capital Gain of Rs. 20 Lacs. Then he Buy a residential House on Feb 2019 for Rs. 80 lakhs and Claiming the Exemption u/s 54.
ReplyDeleteHe sold a Another Residential House on Oct 2019 (not same purchasing Above) having capital Gain of Rs. 30 Lakhs.
Can he again claim the benefit of house purchased in feb 2019 again for exemption in AY 2020-21.