The government extended the deadline to file income tax return (ITR) for FY21 for individuals by two months to September 30, 2021 from the current deadline of July 31, 2021. The Central Board of Direct Taxes (CBDT), via a circular issued on May 20, 2021, stated, “The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31 st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021.”
Along with the extension of the ITR filing deadline, belated ITR filing deadline has been extended as well. “The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31 s1 December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31 st January 2022,” the CBDT stated.
The circular also clarified the following:
“Clarification 1: It is clarified that the extension of the dates as referred to in clauses (9), (12) and (13) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.
Clarification 2: For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under this Circular) provided in that Act, shall be deemed to be the advance tax.”
Last year as well various tax-related deadlines were extended by the government due to the novel coronavirus pandemic. For instance, the tax-saving deadline was extended to July 31, 2020, and the ITR filing deadline for FY 2019-20 was extended to January 10, 2021.
“Various due date relaxations will reduce compliance burden for businesses that have been struggling in the current crisis. This also emphasises how critical it is for businesses to move their tax compliance fully online. The extension of due dates for various compliances for employers as well extension of tax filing due date for taxpayers is important in the current situation as the second wave of covid is raging through several states in India,” said Archit Gupta, Founder and CEO, ClearTax.