The Central Board of Direct Taxes (CBDT) on January 06, 2023, issued a notification regarding the Extension of the time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act,1961 (' Act') in view of the then-Covid-19 pandemic.
The following has been stated namely: -
• Section 54 to 54 GB falls under the chapter “Computation of Total Income”
• Compliances to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase, construction, or such other action, by whatever name called, for the purpose of claiming any exemption under the provisions contained in Section 54 to 54 GB of the Act, may be completed on or before March 31, 2023.
[Notification No. 225/49/2021-ITA-II]
