In a major relief to thousands of taxpayers, the Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing Income Tax Return (ITR) for the financial year 2020-21 from 30 September to 31 December 2021. The extension came as several taxpayers had expressed dissatisfaction over the new income tax portal while filing ITR in the last few months. To make ITR filing easy and hassle-free, the Income Tax Department on June 7 introduced a new tax e-filing portal. From pre-filled income tax return forms to quick refunds – the new portal comes with a slew of new features to provide a “modern and seamless experience to the taxpayers”. However, the new income tax e-filing portal has faced glitches and other problems. start.
Finance Minister Nirmala Sitharaman also summoned Infosys Chief Executive Officer Salil Parekh to rectify the glitches on the new income tax portal. Sitharaman had asked them to fix all the problems by September 15. “On consideration of the difficulties reported by taxpayers and other stakeholders in filing income-tax returns and various reports of audit for the assessment year 2021-22 under the Income-tax Act, 1961 (“the Act”), the Central Board of Direct Taxes (CBDT) has decided to extend the due dates for filing of income tax returns and various audit reports for the assessment year 2021-22,” the CBDT said in a statement on Thursday.
This was the second time that the Finance Ministry had extended the due dates for filing income tax returns in this financial year. The normal due date for filing income tax returns for the year 2020-21 was July 31. Earlier, the deadline for filing income tax returns was extended till September 30 in view of the coronavirus pandemic in the country. “The due date for furnishing the return of income for the assessment year 2021-22, which was the 31st day of July, 2021 under sub-section (1) of section 139 of the Act, has been extended to the 30th September, 2021 vide circular no. /2021 dated 20.05.2021, is hereby extended to 31st December, 2021,” the CBDT said in a statement.
News18.com was first reported on August 23 that the deadline for filing income tax for the financial year FY21 may need to be extended beyond September 30 due to glitches in the new income tax portal.
Apart from filing income tax returns for the financial year 2020-21, the CBDT on Thursday also extended various tax compliance guidelines
1) The due date for submission of audit report under any provision of the Income Tax Act for the previous year 2020-21 has been extended to 15th January, 2022. The earlier due date was October 31, 2021.
2) The Income Tax Department also extended the due date for filing of report from an accountant by persons entering into international transactions or specified domestic transactions under section 92E for 2020-21. Now they have time till 31 January 2022.
3) The due date for furnishing the return of income for the assessment year 2021-22 has been further extended to 15th February, 2022. Earlier the due date was extended till November 30.
4) The Income Tax Department has extended the due date for 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, up to 31st December has been exceeded. 2021 vide Circular No. 9/2021 dated 20.05.2021 is hereby extended up to February 28, 2022;
The due date for furnishing of belated/revised return of income for the assessment year 2021-22, which is the 31st day of December, 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, as extended vide Circular No. 9/2021 dated 20.05.2021 dated 31st January, 2022 is hereby extended to 31st March, 2022;
It is also clarified that the extension of dates in terms of clauses (9), (12) and (13) and clauses (1), (4) and (5) of circular No. 9/2021 dated 20.05.2021 ) shall not apply to Explanation 1 to section 234A of the Act above, in cases where the amount of tax on the total income has been reduced by the amount referred to in clauses (i) to (vi) of sub-section (1). That clause exceeds one lakh rupees. Further, in the case of a person resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him within the due date under section 140A of the Act (without extension under circular No. 9/ ) 2021 as dated 20.05.2021 and above) provided in that Act, shall be deemed to be advance tax.
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