Gujarat Real Estate Regulatory Authority (GujRERA) has extended the deadline for the submission of the annual report on statement of accounts by real estate developers for fiscal 2020-21. The last date for the submission has been extended till December 31, 2021, to provide relief to developers amid the disruptions caused by the Covid-19 pandemic.
Real estate developers are required to submit the annual report on statement of accounts in Form-5 within six months after the end of every fiscal year for every registered project. The Covid-19 pandemic and the country-wide lockdown as well as restrictions halted all activities in the real estate sector, the state real estate regulator said in its recent order. It added that various other statutory bodies such as CBDT (Central Board of Direct Taxes) have extended the due date for the submission of annual compliances. Providing a relaxation in the due date of the statutory compliance will give relief to promoters.
“The last date for the submission of Form-5 for the financial year 2020-21 which is due on 30th September 2021, is extended up to 31st December 2021,” Gujarat RERA said in its order.“Promoters and chartered accountants are required to comply with the requirement of submission of Form-5 by the revised time period,” the state authority added.