The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders,decided  to  extend timelines for compliances under the Income-tax Act,1961 (hereinafter referred to as “the Act”) in the following cases, as under: The Statement of Financial Transactions(SFT)  for the Financial Year 2020-21, required to be furnished on or before 31 st  May, 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished  on or before 30 th  June, 2021;   The Statement of Reportable Account  for the calendar year 2020, required to be furnished on or before 31 st  May, 2021 under Rule 114G of the Rules, may be furnished  on or before 30 th  June, 2021 ;   The Statement of Deduction ...

The Income Tax Department is going to launch its new e-filing portal   www.incometax.gov.in   on 7 th June, 2021. The new e-filing portal ( www.incometax.gov.in ) is aimed at providing taxpayer convenience and a modern, seamless  experience to taxpayers:   New taxpayer friendly portal integrated with immediate processing of Income Tax Returns(ITRs) to issue quick refunds to taxpayers; All interactions and uploads or pending actions will be displayed on a single dashboard for follow-up action by taxpayer; Free of cost ITR preparation software available online and offline with interactive questions to help taxpayers fill ITR even without any tax knowledge, with pre-filling, for minimizing data entry effort; New call center for taxpayer assistance for immediate answers to taxpayer queries with FAQs, Tutorials, Videos and chatbot/live agent; All key portal functions on desktop will be available on Mobile App which will be enabled subsequently for full anytime access on m...