The dates for filing Income Tax returns are extended from Jul 31, 2021 to September 30, 2021 for individual assesses, where Audit is not required. The Central Board of Direct Taxes under Ministry of finance of Government of India has released circular no: 9 of 2021 on 20th May 2021 regarding the extension in timeline of some compliances providing relaxation to the taxpayers due to Covid 19 pandemic.
Further, Central Board of Direct Taxes (CBDT) has also provided relaxation in following compliances for individual and non individual tax payers.
1. Earlier filing of Income tax return (ITR) under sub-section (1) of section 139 of the Income tax Act for the Assessment Year 2021-22 was supposed to be done by 31st July 2021 which has been extended till 30th September 2021.
2. Report of Audit also known as Tax Audit which is filed under any provision of the Act for the previous year 2020-21 can now be filed till 31st October 2021 which was earlier needed to be done by 30th September 2021.
3. Earlier filing of Income tax return (ITR) under sub-section (1) of section 139 of the Income tax Act for the Assessment Year 2021-22 was supposed to be done by 31st October 2021 which has been extended till 30th November 2021.
4. Earlier employers were required to furnish The Certificate of Tax deducted at Source in Form no: 16 under Rule 31 of the Income tax Rules to their employees by 15th June 2021 which now has been extended till 15th July 2021.
5. According to the Rule 114E under Income tax Rules, 1962, The Statement of Financial Transactions (SFT) for the financial year 2020-21 can be furnished on or before 30th June 2021 which was earlier supposed to be presented on or before 31st of May 2021.
6. Filing date for The statement of Deduction of Tax which is also known as TDS return for Quarter four of financial year 2020-21 under Rule 31A of Income tax Rules, has been extended till 30th June 2021 which was earlier required to be furnished by 31st May 2021.
7. The due date for filing revised or belated ITR (Return of Income) which is under sub-section (4) / sub-section (5) of the section 139 of the Act for the assessment year 2021-22 was supposed to be 31st December 2021 which has been extended till 31st January 2022.
Clarification 1: Clarification is already provided regarding all the extensions related to the dates which are referred under the clauses (9), (12), and (13) will not be applicable to Explanation 1 to section 234A of the Act, in the cases where the tax amount on the total income as reduced from the amount as given in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.
Clarification 2: As stated in Clarification 1, in case of an Individual resident in India which is explained in sub-section (2) of section 207 of the Income Tax Act, where he pays tax under section 140A of IT Act before the due date (without the extension given in this circular) provided in that Act, should be considered as the advance tax.
