For the AY 2021-22, the CBDT has extended the deadlines for filing ITRs and other audit reports.

The CBDT has extended the deadlines for filing Income Tax Returns and various other audit reports for Assessment Year 2021-22, as announced in a press release and Circular No. 17/2021 dated September 9, 2021. 

The Central Board of Direct Taxes (CBDT), in the execution of its powers under Section 119 of the Income-tax Act, 1961 (Act), allows relief in respect of the following compliances:

• The deadline for filing the Return of Income for the Assessment Year 2021-22, which was previously extended to 30th September 2021 by Circular No. 9/2021 dated 20.05.2021, is now extended to 31st December 2021.

• The deadline for providing a Report of Audit under any provision of the Act for the previous year 2020-21, which was previously extended to the 31st of October 2021 by Circular No. 9/2021 dated 20.05.2021, is now extended to the 15th of January 2022.

• The deadline for furnishing of the report via an accountant for the individuals entering into international transactions or specified domestic transactions under section 92E of the Act for the previous year 2020-21, which was previously extended to the 30th November 2021 by Circular No.9/2021 dated 20.05.2021, is now extended to the 31st January 2022.

• The deadline for filing the Return of Income for the Assessment Year 2021-22, which was previously extended to 30th November 2021 by Circular No. 9/2021 dated 20.05.2021, is now extended to 15th February 2022.

• The deadline for filing the Return of Income for the Assessment Year 2021-22 under sub-section (1) of section 139 of the Act, which was previously extended to the 31st December 2021 via Circular No. 9/2021 dated 20.05.2021, is now extended to the 28th February 2022.

• The deadline for filing belated/revised Returns 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 by Circular 9/2021 dated 20.05 2021, is thus extended to 31st March 2022.

Clarification 1:

It is clarified that the dates extended in clauses (9), (12), and (13) of Circular No. 9/2021 dated 20.05.2021, as well as clauses (1), (4), and (5) of this Circular, do not apply to Explanation 1 to section 234A of the Act in cases where the amount of tax on the total income is reduced by the amount as specified in clauses I to (vi) of sub-section (1) exceeding 1 lakh rupees.

Clarification 2:

For the purposes of Clarification 1, the advance tax in the case of an individual resident in India referred to in sub-section (2) of section 207 of the Act shall be deemed to be the tax paid under section 140A of the Act within the due date (without extension under Circular No. 9/2021 dated 20.05.2021 and this Circular) provided in that Act.

Therefore, the CBDT has extended the deadlines in order to provide easy procedure and a sufficient time period of filing the required audit report of AY 2021-22. 

Author:

Tejaswini Lala
Hyderabad
BBA-LLB student of Symbiosis Law School Hyderabad.