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Taxpayers can file settlement claims till September 30: Check details here

 This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1

income tax, I-T dept, ITR

The income tax (I-T) department on Tuesday extended the deadline for filing settlement applications for eligible taxpayers till September 30, as the income tax settlement commission (ITSC) ceased to exist from February 1 This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1. To dispose the pending settlement applications as on January 31, the central government has constituted Interim Board for Settlement. “To provide relief to the taxpayers who were eligible to file application as on January 31, but could not file the same due to cessation of ITSC vide Finance Act, 2021, it has been decided that applications for settlement can be filed by the taxpayers by September 30 before the Interim Board …,” CBDT said in a release on Tuesday. This applies to only those assessees who were eligible to file applications for settlement on January 31 for the relevant assessment years. Secondly, it applies to cases where all the relevant assessment proceedings of the assessee are pending as on the date of filing the application for settlement..


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