In the light of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961 (‘Act’), CBDT has extended due dates as detailed hereunder:
|S. No||Nature of Compliance||Original Due Date||Extended Due Date||Newly Extended Due Date|
|1.||Tax audit report and other audit reports* under the Act for AY 2021-22 (Cases, other than in which TP report u/s 92E is required to be furnished)||30th Sep 2021||15th Jan 2022||15th Feb 2022|
|2.||Transfer Pricing report u/s 92E||31st Oct 2021||31st Jan 2022||15th Feb 2022|
|3.||Tax audit report and other audit reports* under the Act for AY 2021-22 (Cases in which TP report u/s 92E is required to be furnished)||31st Oct 2021||31st Jan 2022||15th Feb 2022|
|4.||Income Tax Return for AY 2021-22 (audit cases)||31st Oct 2021||15th Feb 2022||15th Mar 2022|
|5.||Income Tax Return for AY 2021-22 (Cases in which TP report u/s 92E is required to be furnished)||30th Nov 2021||28th Feb 2022||15th Mar 2022|
* Other audit reports includes audit reports u/s 115JB, 80JJAA, 80-IC, 80-IA, etc.
Clarification 1: Extension of due date for ITR will not affect the Explanation 1 section 234A (interest for default in furnishing ITR) if amount of tax exceeds 1 lakh
Clarification 2: For the purpose of clarification 1, in case of resident individual referred to in section 207(2) i.e., senior citizen not having income under PGBP, tax paid by him u/s 140A within the due date (without considering above extensions and extensions under Circular 9/2021 and Circular No. 17/2021) of Act shall be deemed to be the advance tax.
(For detailed understanding, please refer CBDT Press Release dated 11th January 2022 and CBDT Circular No. 01/2022 dated 11th January 2022)
The information contained herein is in summary form based on interpretation of Press Release and Circular No. 01/2022 dated 11th January 2022. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Recipient should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This document is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.
PDF version of the above is attached : Extension of due dates – 11 Jan 2022