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The Direct Tax Committee of the Institute of Chartered Accountants of India has further requested the Ministry of Finance to extend the due dates for various Income Tax Returns and Tax Audit Reports to 31st March 2021, including various TDS and TCS Compliances. Read the official representation letter below: 6th January 2021 To Chairman, Central Board of Direct Taxes, Ministry of Finance, Government of India, North Block, New Delhi110 001. Sir, Re: Request to consider further e
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FAQ :
The ICAI is requesting a further extension of the due dates for various Income Tax Returns and Tax Audit Reports, as well as related TDS and TCS compliances, to 31st March 2021.
The ICAI cited the ongoing COVID-19 pandemic, including new lockdowns and virus strains, as well as the farmers' protests in North India, as reasons why the current extensions are insufficient for taxpayers and professionals.
The request specifically mentions Income Tax Returns, Tax Audit Reports, and various TDS and TCS compliances, including those for the third quarter of FY 2020-21.
The government had previously provided an extension of 10 days for Income Tax Returns for certain assessees and 15 days for tax audit reports and related returns.
The ICAI has proposed extending the due dates to 31st March 2021.
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