Centre extends Income Tax Return filing deadline by 2 months

May 20: The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing income-tax returns (ITR) by individuals for FY 2020-21 (AY 2021-22) to September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. The decision was taken in the wake of second wave of coronavirus pandemic in the country.

As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.

The deadline extensions have been granted under the Income-tax Act, 1961 in the following cases:

1) For regular taxpayers, the due date of of furnishing return of income for the Assessment Year 2021-22 has been extended to September 30 from July 31, 2021.

2) Audit Assessees will have time till November 30 to file the income tax return. Earlier the date was October 31.

3) Due date of furnishing Tax Audit Report extended to October 31 from  September 30, the CBDT said in a statement.

4) Due date of filing belated/revised return of income extended to January 31, 2022 from December 31, 2021.

5) Due date of Transfer Pricing Study Report extended to November 30

6) SFT Due date extended to June 30, 2021 from May 31, 2021

7) Statement of Reportable Account – extended to June 30 from May 31

8) TDS Statement for fourth quarter of FY 2020-21 extended to June 30. Earlier the last date of filing TDS was May 31.

9) The last date of issuing Form 16  has been extended by a month to July 15. It was June 15 earlier.

“Income Tax Dept will also launch its new e-filing portal http://incometax.gov.in on 7 June, 2021. Existing ITD portal http://incometaxindiaefiling.gov.in would not be available to taxpayers/other stakeholders for a brief period of 6 days, from 1 June, 2021 to 6 June, 2021,” according to a statement from the Income Tax Department.