DEADLINE FOR FILING I-T RETURNS EXTENDED TILL SEPTEMBER 30

The government on Thursday extended the due date of filing income tax returns (ITR) for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, the deadline to file ITR is July 31.

In view of hardships faced by taxpayers because of the pandemic, the government on Thursday extended several income tax (I-T) compliance timelines, including 2020-21 income tax returns (ITR), for individuals by two months to September 30.

“The Centre, in continuation of its commitment to address the hardships being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act,1961,” said CBDT in a statement on Thursday.

The I-T department also extended the ITR filing deadline for companies by a month till November 30. The due date for filing Tax Deduction at Source (TDS) returns and the Statement of Financial Transaction statements, has been extended by one month to June 30, whereas corresponding due dates for issuance of TDS certificates has also been extended by 1 month to July 15. Besides, for corporate taxpayers and individual taxpayers liable to tax audit, the due date has been extended by a month, from October 31 to November 30.

The due dates for filing of Tax Audit Report and Transfer Pricing Certificate have also been extended by a month from their respective due dates. The last date for filing belated or revised returns for all categories of taxpayers has been extended by a month, from existing December 31, 2021 to January 31, 2022.