deadline | Common News Update

Mar172021 by adminNo Comments

Reports: IRS to extend deadline for tax returns

Business

March 17 (UPI) -- The Internal Revenue Service plans to push back the date by which Americans must file their federal tax returns to give people more time to pay what they owe during the pandemic-related economic downturn, unnamed sources familiar with the matter said Wednesday. Sources confirmed the plans to Bloomberg, CNN and CNBC. Advertisement While the IRS hasn't solidified plans, the agency is expected to set May 15 or 17 as the new filing deadline, a month later than the traditional April 15 date. The Treasury Department made a similar move last year, pushing back the deadline to July 15. In April 2020, many states were still under stay-at-home orders implemented a month earlier, and millions of people had lost their jobs in the weeks prior. The economy has seen a bit of a rebound ...

Feb272021 by adminNo Comments

Government extends deadline for filing declarations under VsV scheme till Mar 31, payment till Apr 30

Finance

The government has extended the last date for availing of the direct tax Vivaad Se Vishwas dispute resolution scheme to March 31, 2021, from the earlier date of February 28. This is the fifth extension of the scheme. Those willing to settle their tax disputes under the Direct Tax Vivad Se Vishwas Act can file their declarations till March 31 and pay the settled tax amount by April 30, 2021, the Central Board of Direct Taxes said in a notification Friday. “CBDT further extends the date for filing of declarations under the Vivaad Se Vishwas Act, 2020 to March 31, 2021. Date for payment without additional amount under VsV extended to 30th April, 2021,” the income tax department said in a Twitter post. So far 125,144 cases have opted for the scheme which is 24.5% of the entire long pending 510...

Dec202020 by adminNo Comments

I-T reaches out to individuals, firms as the Vivaad Se Vishwas scheme (VSVS) deadline nears

Finance

NEW DELHI: With less than two weeks to go before the Vivaad Se Vishwas scheme ends, Income Tax officials across the country are reaching out to individuals as well as corporates — via phone calls, emails and letters — to persuade those taxpayers still in litigation with the department to avail of the direct tax dispute settlement scheme. Assessing officers have identified cases where the I-T department has filed appeals in courts for settlement and in cases where the interest component is high, in order to reach out to the assessees on time. “Reaching out to key litigants and our counterparts where we are in litigation is the key strategy for us, so that they can pay up 50% and withdraw,” said an official. This means cases where the department had challenged orders in the tax tribunal or H...

Dec132020 by adminNo Comments

Deadline comes knocking: Is there hope left for Brexit deal?

World

The chief negotiators from the European Union and United Kingdom are making last-ditch efforts to bridge differences on a post-Brexit trade deal that have proved insurmountable for the best part of the yearBy RAF CASERT and JILL LAWLESS Associated PressDecember 13, 2020, 9:51 AM• 4 min readShare to FacebookShare to TwitterEmail this articleBRUSSELS -- Facing yet another self-imposed Brexit deadline on Sunday, the chief negotiators from the European Union and United Kingdom were making last-ditch efforts to bridge differences on a trade deal that have proved insurmountable for the best part of the year.British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen are expected to speak early Sunday afternoon. They have said they will decide whether to continue n...

Dec72020 by adminNo Comments

Reliance Capital: Deadline to bid for subsidiaries extended till December 17

Finance

NEW DELHI: Reliance Capital Ltd (RCL), part of debt-ridden Anil Ambani-promoted Reliance Group, on Monday said the Committee of Debenture Holders has extended the deadline for submission of bids for the company's subsidiaries to December 17. With regard to invitation of "Expression of Interest (EoI) for submission of asset monetisation plan(s) for certain subsidiaries/ investments of Reliance Capital Limited, we hereby inform that the Committee of Debenture Holders has decided to extend the last date for submission of Expression of Interest to December 17, 2020," RCL said in a regulatory filing. Other than the extension in timeline, all other terms and conditions remain unchanged, it added. Monetisation process is under the aegis of Committee of Debenture Holders and the Debenture Truste...