Direct tax practitioners have urged the capital market regulator Securities and Exchange Board of India (SEBI) to increase the last date of availing the Settlement Scheme 2020 from October 31 to March 31 within the wake of the COVID-19 pandemic induced disruptions.
Companies were alleged to avail the scheme between Lammas and October 31.
“We request that the amount of onetime settlement should be extended till 31st March 2021 thanks to Corona pandemic,” Direct Taxes Professionals” Association (DTPA) President Narendra Goyal said during a letter to the SEBI chairman.
The representation also seeks to rationalize settlement terms and revise the settlement amount to a moderate limit.
Settlement amount altogether cases should be supported the resultant net income or loss from transactions during the year/ period.
