The government announced on Thursday, that the deadline for filing income tax returns has been extended to December 31, due to the coronavirus epidemic and ongoing technical issues with the government’s website. Normally due by the end of July, the deadline was earlier postponed from May to September 30, owing to the coronavirus epidemic.
“In light of the difficulties reported by taxpayers and other stakeholders in filing Income Tax Returns. And The rise of various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”). The Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing Income Tax Returns. As well as, various reports of audit for the Assessment Year 2021-22,” according to the Finance Ministry.
Deadlines and schedules for filing Income Tax Return
“The due period for filing Income Returns for the Assessment Year 2021-22; which was 31st July 2021 under sub-section (1) of section 139 of the Act. As extended to 30th September 2021 by Circular No.9/2021 dated 20.05.2021. It is thus further now 31st December 2021”.
From November 30, 2021, the CBDT has extended the deadline for filing ITRs for businesses until February 15, 2022.
The deadlines for filing the tax audit report and the transfer price certificate got extended to January 15, 2022, and January 31, 2022; from the previous deadlines of October 31 and November 30 respectively. The deadline for filing a late or revised income tax return is also extended by two months, i.e., to March 31, 2022.
Concerning the tax portal’s difficulties, the finance ministry stated on Wednesday that it is working with Infosys to provide a smooth filing experience for taxpayers.
The CBDT released the paperwork for filing Income Tax Returns for the 2020-21 fiscal year on April 1. Under section 115BAC of the I-T Act, the government had given taxpayers the option of choosing a new tax regime for the fiscal year 2020-21. For more such updates, keep watching this space!