CBDT further Extension ITR & TAR Due Dates for FY 2021-22

CBDT Extension of Due date for filing of ITR & Different reports of audit for the AY 2021-22 to 15 March; check details here

• The due date for furnishing a Tax Audit Report under any provision of the Act for the previous year 2020-21, which was 30th September 2021 in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, has been extended to 15th February 2022 (by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively).
• On consideration of difficulties 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 (Act)

The Central Board of Direct Taxes (CBDT), in the exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:

• The due date of furnishing of Tax Audit Report under any provision of the Act for the Previous 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 Act, as extended to 31st October 2021 and 15th January 2022 ( by CircularNo.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively,) is hereby further extended to 15th February 2022
• In the case of assessees referred to in clause (aa) of Explanation 2 to sub-section (1) of section 139of the Act, the due date for filing a Report of Audit under any provision of the Act for the previous year 2020-21, which was 31st October 2021, is thus extended to 15th February 2022;
• The deadline for persons entering into international transactions or specified domestic transactions under Section 92E of the Act for the previous year 2020-21, which was 31st October 2021, has been extended to 30th November 2021 and 31st January 2022, respectively.
• The due date for filing the Return of Income for the Assessment Year2021-22, which was 31st October 2021 under sub-section (1) of section 139 of the Act, has been 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).
• The due date for filing the Return of Income for the Assessment Year2021-22, which was 30 November 2021 under sub-section (1) of section 139 of the Act, has been extended to 31 December 2021 and 28 February 2022 (by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021, respectively).

Clarification 1:

It is clarified that this extension does not apply to Explanation 1 of section 234A of the Act in circumstances where the amount of tax on total income is less than the amount indicated in clauses I to (vi) of sub-section (1) of that section exceeds one lakh rupees.

Clarification 2:

For the purposes of Clarification 1, the tax paid under section 140A of the Act within the due date (without extension under Circular No.9/2021, Circular No.17/2021, and this Circular) provided in that Act shall be deemed to be the advance tax in the case of an individual resident in India referred to in sub-section (2) of section 207 of the Act.

Conclusion:

• In the illumination of the difficulties experienced by taxpayers and other stakeholders as a result of COVID and electronic filing of various audit reports under the provisions of the Income-tax Act, 1961 (Act),
• the Central Board of Direct Taxes (CBDT), in exercising its powers under Section 119 of the Act, relaxes the following requirements:
• Central Board of Direct Taxes has extended the due dates for filing Audit reports and ITRs for AY 21-22 due to issues experienced by taxpayers/stakeholders due to Covid and in e-filing of Audit reports for AY 2021-22 under the IT Act, 1961. (Circular No. 01/2022 was issued on January 11, 2022)

CBDT Due date of ITR for FY 2021-22

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