ITR Filing Due Date Extended For FY21

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A massive relaxation for taxpayers as ITR Filing Due Date Extended For FY21. As most of us know, taxpayers and professionals have reported several glitches and malfunctions in the new income tax portal since its launch. It’s become essential to extend all upcoming income tax filing due dates.

Therefore,  the government has now announced the extension of several ITR Filing due dates by announcing a new Income Tax circular.

In this article, we will read about the latest announcement by the Income-tax department relating to Income Tax Return Filing.

Problems faced by Taxpayers in the New Income Tax Portal 

The Ministry of Finance launched a new income tax portal on June 7, 2021, collaborating with Infosys. However, ever since it was launched, several taxpayers and professionals reported many issues in the portal.

As a result of errors in the new Income Tax Website, Taxpayers across India requested the Ministry of Finance to take action. Finance Minister Nirmala Sitharaman also summoned Infosys CEO to enquire about the issues.

Read more about Finance Minister Summons Infosys CEO at FM Sitharaman gives Ultimatum to Infosys to fix Income Tax Portal 

Relief to taxpayers by extending ITR Filing Due Dates

The due date for Infosys to resolve issues in the new website was given 15th September 2021. However, the taxpayers were worried about meeting the ITR Filing deadlines. Thus, a new relief has been given via the latest notification.

ITR filing Due Date Extended

The Income Tax Return Due date was extended primarily for electronic ITR forms and those returns that didn’t require any audit. Now again, there is a major extension by the Income Tax Department circular dated 9th September 2021.

As per the Notification by Income Tax Department, CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22. The details are as follows.

  • ITR DUE DATE FOR INDIVIDUAL, FIRMS (Who don’t require audit)

The Due Date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st December 2021.

  • DUE DATE OF TAX AUDIT REPORT (Form-3CD) FILING U/S 44AB

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, as extended to 31st October 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further Extended to 15th January 2022.

  • DUE DATE OF FILING FORM 3CEB TAX AUDIT REPORT

The Due Date of furnishing Report from an Accountant by persons entering into an international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31st October 2021, as extended to 30th November 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st January 2022.

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  • ITR DUE DATE OF INDIVIDUAL, FIRM & COMPANY (Who requires Audit)

The Due Date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 15th February 2022.

  • ITR DUE DATE who requires International transactions tax audit u/s 92E

The Due Date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 28th February 2022.

  • BELATED & REVISED ITR DUE DATE FOR AY 2021-22

The Due Date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act. As extended to 31st January 2022, vide Circular No.9/2021 dated 20.05.2021, is hereby further Extended to 31st March 2022.

In conclusion, this is a great opportunity for taxpayers to file their income tax returns on time. Also, the taxpayers must be extra cautious while filing ITR Online on the new website. The assistance of professionals can be beneficial to avoid mistakes.

Income Tax Return: Who should file ITR for FY 2020-21?

Moreover, If you want any other guidance relating to ITR  Filling, please feel free to talk to our business advisors at 8881-069-069.

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