Global Economy

ITR filing due dates extended again, to December 31, 2021

The government Thursday extended the last date for filing income tax returns till December 31, from present end date of September 30, following difficulties faced by taxpayers and other stakeholders on the new income tax portal.

“On consideration of difficulties reported by the taxpayers and other stakeholders in filing of income tax returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961, Central Board of Direct Taxes (CBDT) 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,” the Board said in a statement.

This is the third such extension provided by the government this year. The government had extended the deadlines last year as well when the first wave of the Covid 19 pandemic had created unprecedented situation for individual taxpayers and industry. However, this time, while Covid related extensions and relief has been given earlier as well, glitches and technical issues arising in the income tax portal have forced government to give further extensions.

While ITRs can be filed till the year end, revised returns can be filed till March end, 2022, instead of the earlier last date of January 31, 2022.

Filing of audit report can now be done by January 15, 2022 instead of the present deadline of October 31.

For corporate taxpayers and individual taxpayers liable to tax audit, the due to date of filing return for AY 2021-22 has been extended to February 15, 2022 instead of November 30. In the same case, the returns of income for AY 2021-22 can be filed by February 28, 2022 instead of December 31, 2021.

The due date for transfer pricing certificate has been pushed to January 31, 2022 from the earlier deadline of November 30.

For taxpayers, whose entire income tax liability is not discharged by tax deducted at source or TDS and advance tax and such shortfall is more than Rs 1 lakh, will have to file their returns within respective original due date to avoid charge of interest at the rate of 1% per month for every month after original due date of filing ITR, the Board clarified.

The Board also clarified that tax paid by an individual resident in India referred to in sub-section (2) of section 207 of the Act – that do not have income from profits and gains of business or profession and are above 60 years in previous year – under section 140A of the Act within the due date will be deemed as advance tax.

The Board said on Wednesday that it was regularly monitoring the resolution of issues with Infosys, the managed services provider for the new IT portal.

A number of technical issues are being progressively addressed and there has been a positive trend reflected in the statistics of the various filings on the portal, the Board said.

ITR filing increased to 3.2 lakh daily in September, 2021 and 1.19 crore ITRs for AY 2021-22 were filed. Of these, over 76.2 lakh taxpayers have used the online utility of the portal to file the returns, the Board said.


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