The Ministry of Finance on 7th September 2021 has provided an opportunity to taxpayers to file an application for settlement by 30th September, 2021 in order to provide relief to the taxpayers who were eligible to file the application as on 31st January 2021, but could not file the same due to cessation of ITSC vide Finance Act, 2021.
The taxpayers would also require to fulfill another condition that all their relevant assessment proceedings are pending as on the date of filing the application for settlement.
The Finance Ministry further clarified that taxpayers who have filed such applications before January 31 shall not have the option to withdraw such applications as per the provisions of section 245M of the Act.
The taxpayers who have already filed an application for settlement on or after February 1, as per the direction of the various High Courts and who are otherwise eligible to file such application, shall not be required to file such application again.
