ITR or Income Tax Last Date Extended for FY 2021!!

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ITR or Income Tax Filing Last Date Extended for FY 2021
ITR or Income Tax Filing Last Date Extended for FY 2021

ITR or Income Tax Filing Last Date Extended for Financial Years 2021 – Assessment Year (2021-2022)Central Board of Direct Taxes (CBDT) announced that the last date for filing the Income tax return for the financial year 2020-2021 was extended up to September 30. Due to wake of Second of wave of Corona virus across the India this decision was taken CBDT said. Many Tax payers welcomed this date extension. Check out the entire post for brief details about this CBDT ITR date extension.

Central Board of Direct Taxes informed that “The Central Board of Direct Taxes, in exercise of its power under section 119 of the Income-tax Act, 1961, provides relaxation”. Archit Gupta, founder and chief executive officer of Clear tax said that “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-19 is raging through several states in India,”

Income Tax Filing Date Extension Details

  • For regular taxpayers, the due date of filing income tax for FY 2020-21 has been extended to September 30 from July 31, 2021.
  • Audit Assessestime has extended form October 31 to November 30 file the income tax return.
  • Due date of furnishing Tax Audit Report extended from September 30 to October 31.
  • Last Date for filing belated or revised return of income extended from December 31, 2021to January 31, 2022.
  • Due date of Transfer Pricing Study Report extended to November 30
  • Statement of Reportable Account – extended from May 31to June 30
  • TDS Statement for fourth quarter of FY 2020-21 extended from May 31 to June 30.
  • The last date of issuing Form 16 has been extended by a month to July 15. It was June 15 earlier.

Income Tax Department is going to introduced a new e-filing portal (http://incometax.gov.in) on 7.06.2021. Income tax India said that “The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers. It is another step by CBDT to provide ease of compliance to its taxpayers & other stakeholders”. The existing portal will be unavailable to taxpayers for six days, starting from 01.06.2021 to 06.06.2021 because of the introduction of new portal.

The income tax department tweeted that “CBDT issues refunds of over Rs 24,792 crore to more than 15 lakh taxpayers between 1st April 2021 to 17th May 2021,”The Tax department earlier said it has refunded over Rs 24,792 crore to more than 15 lakh taxpayers this fiscal. Of this personal income tax refunds worth is Rs 7,458 crore and it has been refunded in over 14.98 lakh cases. The corporate tax refunds of Rs 17,334 crore have been issued to 43,661 taxpayers.

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