Central Board of Direct Taxes(CBDT) extended the time limit for compliance to be made for claiming any exemption under section 54 to 54GB of the Income Act,1961 view of Covid-19.
CBDT provided relaxation in respect of certain compliances to be made by taxpayers including inter alia investment, deposit, payment, acquisition, purchase, construction for the purpose of claiming any exemption as per Section 54 to 54GB of the Income-tax Act, 1961
In view of the representations received and on further consideration of the then-prevailing COVID-19 pandemic and resultant restrictions imposed, causing genuine hardship faced by taxpayers, the last date of such compliance regarding investment, deposit, payment, acquisition, purchase, construction or similar actions earlier planned between April 01, 2021 to February 28, 2022 (both days inclusive), may now be completed on or before March 31, 2023.