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January 11, 2022

Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22

by Mahesh Mara in Income Tax

Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22

On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:

  1. The due date of furnishing of Report of Audit under any provision of the Actfor the Previous Year 2020-21, which was 30th September 2021, in the case ofassessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 ofthe Act, as extended to 31st October 2021 and 15th January 2022 by CircularNo.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively,is hereby further extended to 15th February, 2022

2. The due date of furnishing of Report of Audit under any provision of the Actfor the Previous Year 2020-21, which was 31st October, 2021, in the case ofassessees referred in clause (aa) of Explanation 2 to sub-section (1) of section 139of the Act, is hereby extended to 15th February, 2022;

3. The due date of furnishing of Report from an Accountant by personsentering into international transaction or specified domestic transaction undersection 92E of the Act for the Previous Year 2020-21, which was 31st October 2021,as extended to 30th November 2021 and 31st January 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is herebyfurther extended to 15th February, 2022;

4. The due date of furnishing of Return of Income for the Assessment Year2021-22, which was 31st October 2021 under sub-section (1) of section 139 of the Act,as extended to 30th November 2021 and 15th February 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is herebyfurther extended to 15th March, 2022;

5. The due date of furnishing of Return of Income for the Assessment Year2021-22, which was 30th November 2021 under sub-section (1) of section 139 of theAct, as extended to 31st December 2021 and 28th February 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is herebyfurther extended to 15th March, 2022.

Clarification 1: It is clarified that this extension 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 Circular No.9/2021, Circular No.17/2021 and this Circular) provided in that Act, shall be deemed to be the advance tax.

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