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Considering the arising difficulties reported by the taxpayers and other stakeholders due to third wave of COVID 19 and in view of various reports of difficulties while electronic filing of various reports of audit under the provisions of the Income-tax Act,1961, the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, has extended the due date for Income tax return filing and of tax audit reports.

 

In is surely a welcome move as various tax associations, taxpayers, tax professionals and so on, appealed to the government to extend the due date of submission of tax audit reports and filing of income tax returns for this category of individuals

 

Extended Due Date for furnishing ITRs & various reports of audit for AY 2021-22

 

Compliance Type

(AY 2021-22)

Due Date

(Original)

Due Date

(Extended vide Circular 9/2021)

Due Date

(Extended vide Circular 17/2021)

New Due Date

(Extended vide Circular 1/2022)

Income Tax Return filing  (whose accounts are not subject to Audit): u/s 139(1) of the Income Tax Act, 1961

31st

July 2021

30st September 2021

31st December 2021

No Extension

Income Tax Return filing  (whose account are subject to Audit): u/s 139(1) of the Income Tax Act, 1961

31st october 2021

30th November 2021

15th February 2022

15th March 2022

Income Tax Return filing  (Assessees subject to Transfer Pricing Report): u/s 139(1) of the Income Tax Act, 1961

30th November 2021

31st December 2021

28th February 2022

15th March 2022

Furnishing Tax Audit Report: under any Provision or Section of the Income Tax Act, 1961

30th September 2021

31st October 2021

15th January 2022

15th February 2022

Furnishing Transfer Pricing Report: u/s 92E of the Income Tax Act, 1961

31st October 2021

30th November 2021

31st January 2022

15th February 2022

Furnishing Belated or Revised Income Tax Return filing : u/s 139(4)/ 139(5) of the Income Tax Act, 1961

31st December 2021

31st January2022

31st March 2022

No Extension

 

Further, it was also clarified that the extension of the dates as referred to in clauses (12) and (13) of Circular No.9/2021 dated 20th May 2021, clauses (4) and (5) of Circular No.17/2021 dated 09th September 2021 and in clauses (4) and (5) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds rupees one lakh.

Further, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under Circular No.9/2021 dated 20.05.202, Circular No. 17/2021 dated 09.09.2021 and as above) provided in that Act, shall be deemed to be the advance tax.

 

Final Words

The extension granted by the Government to taxpayers for filing their Tax Audit Report and extension of about 15 days for cases covered by Transfer Pricing compliances is definitely an appreciable move and will surely grant relief to taxpayers. However, it should be noted that for individuals (whose accounts are not required to be audited) filing income tax return using ITR-1, ITR-2 and ITR-4, the deadline for Income tax return filing for Financial Year 2020-21 has passed on December 31, 2021.

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