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The CBDT vide circular No. 08/2021, dated 30-04-2021 has extended the due dates relating to various compliance under Income Tax Act, 1961.

In order to provide further relief to taxpayers in view of the severe pandemic, the CBDT vide circular No. 09/2021, dated 20-05-2021 has further extended the time limits of certain compliances.

Extension of Time Limit for Income Tax Compliance

Extension of Due Dates

Particulars

Original Due Date

Extended Due Dates

Section

Filing of return of income in response to reassessment notice under section 148

01-04-2021 or later

31-05-2021

Section 148

Filing of belated or revised return of income for Assessment Year 2020-21

31-03-2021

31-05-2021

Section 139(4)/139(5)

Furnishing of challan-cum-statement for tax deducted during the month of March, 2021:

Section 194-IA, Section 194-IB, Section 194M

30-04-2021

31-05-2021

Sections 194-IA, 194-IB, 194M read with Rule 30

Furnishing of Statement of Financial Transactions (SFT) for the Financial Year 2020-21

31-05-2021

30-06-2021

Section 285BA read with rule 114E

Furnishing of Statement of Reportable Account for calendar year 2020

31-05-2021

30-06-2021

Section 285BA read with Rule 114G

Furnishing of TDS Statement for the 4th quarter of the Financial Year 2020-21

31-05-2021

30-06-2021

Section 200 read with Rule 31

Issue of TDS certificate in form 16 for the Financial Year 2020-2021

15-06-2021

15-07-2021

Section 203 read with Rule 31

TDS/TCS Book adjustment statement in Form 24G for the month of May 2021

15-06-2021

30-06-2021

Section 206C read with Rule 37CA

Statement of deduction of tax in case of superannuation fund for the Financial Year 2020-21

31-05-2021

30-06-2021

Section 192(5) read with Rule 33

Statement of income paid or credited by an investment fund to its unit holder in Form No. 64D for the Previous year 2020-21

15-06-2021

30-06-2021

Section 115UB read with Rule 12CB

Statement of income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous year 2020-21

30-06-2021

15-07-2021

Section 115UB read with Rule 12CB

Return of income for the assessment year 2021-22 for all assessee other than

(a) corporate-assessee;

(b) non-corporate assessee (whose books of account are required to be audited);

(c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies; or

(d) an assessee who is required to furnish a report under section 92E.

31-07-2021

30-09-2021

Section 139(1)

Return of income for the assessment year 2021-22 if the assessee is:

(a) corporate-assessee;

(b) non-corporate assessee (whose books of account are required to be audited); or

(c) Partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies.

31-10-2021

30-11-2021

Section 139(1)

Return of income for the assessment year 2021-22 (in the case of international or specified domestic transactions)

30-11-2021

31-12-2021

Section 139(1)

Filing of audit report for the assessment year 2021-22

30-09-2021

31-10-2021

Section 44AB

Furnishing of report from an accountant for the assessment year 2021-22 in the case of international or specified domestic transactions under Section 92E

31-10-2021

30-11-2021

Section 44AB

Belated or revised return of income for the Assessment Year 2021-22

31-12-2021

31-01-2022

Section 139(4)/(5)

 
  • Though the due date for filing of Income-tax Return for the Assessment Year 2021-22 has been extended, no relief shall be provided from the interest chargeable under section 234A if the tax liability exceeds Rs. 1 lakh. Thus, if the self-assessment tax liability of a taxpayer exceeds Rs. 1 lakh, he would be liable to pay interest under section 234A from the expiry of original due dates.
  • A resident senior citizen who does not have any income from business or profession is not required to pay advance tax and he can pay the entire tax by way of self-assessment tax. For computing the limit of Rs. 1 lakh (as specified above), the self-assessment tax paid by a senior citizen on or before 31-07-2021 shall be deemed to be the advance tax. Thus, the same shall be reduced while computing the tax liability of Rs. 1 lakh.
  • The due date for filing of TCS Statement and to furnish the TCS certificate has not been extended
  • The due date to furnish other TDS certificates (Form 16A, Form 16B, etc.) has not been extended
Extension of Time Limit for Income Tax Compliance

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Category Income Tax, Other Articles by - CA Rahul Mittal 



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