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PERSONAL FINANCE NEWS

ITR filing, tax audit

report deadlines for FY
2020-21 extended by
CBDT
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Synopsis
The ITR deadline extension has come after various
taxpayers asked the tax department and finance
ministry to extend the ITR filing dates due to the rising
coronavirus cases and issues with the new income tax
portal.

By Preeti Motiani, ET Online

9
Last Updated: Jan 13, 2022, 12:07 PM IST

The Central Board of Direct Taxes

(CBDT) has extended the due dates for
filing tax audit reports and income tax
return for certain category of taxpayers
for FY 2020-21. This was announced by
the income tax department via a press
release issued on January 11, 2022.

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The ITR deadline extension has come

after various taxpayers asked the tax
department and finance ministry to
extend the ITR filing dates due to the
rising coronavirus cases and issues with
the new income tax portal. “On
consideration of di!culties reported by
the taxpayers and other stakeholders
due to COVID and in electronic filing of
various reports of audit under the
provisions of the Income-tax Act, 1961,
the Central Board of Direct Taxes has
decided to further extend the due dates
for filing of income tax returns and
various reports of audit for the
assessment year 2021-22,” said the press
release.

Various tax associations, taxpayers, tax

professionals and so on, appealed to the
government to extend the due date of
submission of tax audit reports and
filing of ITR for this category of
individuals. Tax professionals and
various charted accountant associations
trended the hashtags on Twitter
appealing government to extend the due
dates.

Income Tax India

@IncomeTaxIndia

On consideration of difficulties reported by

taxpayers/stakeholders due to Covid & in e-
filing of Audit reports for AY 2021-22 under the
IT Act, 1961, CBDT further extends due dates
for filing of Audit reports & ITRs for AY 21-22.
Circular No. 01/2022 dated 11.01.2022 issued.

5:57 PM · Jan 11, 2022

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As per the press release issued by the

department:

The due date of furnishing of report

of audit under any provision of the
Income-tax Act for the financial year
2020-21, which was 30th September,
2021, in the case of assessees
referred in clause (a) of Explanation 2
to sub-section (1) of section 139 of the
I-T Act, as extended to 31st October,
2021 and 15th January, 2022 by
Circular No.9/2021 dated 20.05.2021
and Circular No.17/2021 dated
09.09.2021 respectively, is further
extended to 15th February, 2022;

The due date of furnishing of report

of audit under any provision of the I-
T Act for the financial year 2020-21,
which was 31st October, 2021, in the
case of assessees referred in clause
(aa) of Explanation 2 to sub-section
(1) of section 139 of the Act, is
extended to 15th February, 2022.

The due date of furnishing of Report

from an Accountant by persons
entering into international
transaction or specified
Ad domestic
transaction under section 92E of the
Act for the Previous Year 2020-21,
which was 31st October 2021, as
extended to 30th November, 2021
and 31st January, 2022 by Circular
No.9/2021 dated 20.05.2021 and
Circular No.17/2021 dated 09.09.2021
respectively, is further extended to
15th February, 2022;

The due date of furnishing of return

of income for the financial year
2020-21 (assessment year 2021-22),
which was 31st October, 2021 under
sub-section (1) of section 139 of the
Act, as extended to 30th November,
2021 and 15th February, 2022 by
Circular No.9/2021 dated 20.05.2021
and Circular No.17/2021 dated
09.09.2021 respectively, is further
extended to 15th March, 2022;

The due date of furnishing of return

of income for the financial year
(2020-21) (assessment Year 2021-22),
which was 30th November, 2021
under sub-section (1) of section 139 of
the Act, as extended to 31st
December, 2021 and 28th February,
2022 by Circular No.9/2021 dated
20.05.2021 and Circular No.17/2021
dated 09.09.2021 respectively, is
further extended to 15th March,
2022.

The release further stated, "It is also

clarified that the extension of the dates
as referred to in clauses (12) and (13) of
Circular No.9/2021 dated 20.05.2021,
clauses (4) and (5) of Circular No.17/2021
dated 09.09.2021 and in clauses (4) and
(5) above shall not apply to Explanation 1
to section 234A of the Act, in cases where
the amount of tax on the total income as
reduced by the amount as specified in
clauses (i) to (vi) of sub-section (1) of that
section exceeds rupees one lakh.
Further, in case of an individual resident
in India referred to in sub-section (2) of
section 207 of the Act, the tax paid by
him under section 140A of the Act
within the due date (without extension
under Circular No.9/2021 dated
20.05.202, Circular No. 17/2021 dated
09.09.2021 and as above) provided in
that Act, shall be deemed to be the
advance tax."

"Announcement from CBDT earlier

today on extension of timelines for filing
of tax returns and certain audit reports
to 15 Mar and 15 Feb is a major relief
considering the challenges faced by both
the taxpayers and their advisors due to
newer variant of virus and the glitches
in the online portal. Timing of the
announcement in particular avoids
anxiety for all concerned," said
Vishweshwar Mudigonda, Partner,
Deloitte India.

Do keep in mind that for individuals

(who accounts are not required to be
audited) filing income tax return using
ITR-1, ITR-2 and ITR-4, the deadline for
ITR filing for FY 2020-21 has expired on
December 31, 2021.
( Originally published on Jan 11, 2022 )

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