Major Changes in new Income Tax Returns for AY 2021-22



Quick Summary
The Central Board of Direct Taxes (CBDT) has introduced changes to the Income Tax Returns for AY 2021-22, largely influenced by the Finance Act, 2020, and the ongoing COVID-19 pandemic. Key updates include restrictions on using ITR-1 and ITR-4 for ESOP tax deferrals, revised dividend tax reporting, and amendments concerning TDS under Section 194N. Additionally, new optional tax regimes under Sections 115BAC and 115BAD have been incorporated, requiring specific disclosures.

Update: The Central Board of Direct Taxes, via Circular No. 9 of 2021 dated 20th May 2021 has extended the due dates of Income Tax Return, Tax Audit, TDS Statement and Other Compliances to provide relief to taxpayers in view of the COVID-19 pandemic. The extended dates have been listed below: The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021; The due date of furnishi
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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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