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Government extends FY21 ITR filing deadline for individuals till September 30th

The government on Thursday has extended the due date of filing income tax returns for Assessment Year 2021-22 (financial year 2020-21) for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) also extended the ITR filing deadline for companies by a month till November 30.

The CBDT in a circular said the extension of time limits for certain tax compliances is being given to provide relief to taxpayers in view of the severe pandemic.

Individuals whose accounts are not required to be audited and who file ITR-1 or ITR-4 for their returns, the deadline to file ITR is July 31.

The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.

Last date for filing belated, revised returns for all categories of taxpayers has been extended by one month from December 31, 2021 to January 31, 2022

The due date for filing TDS returns and SFT statements, which is due by May 31, has been extended by one month to June 30, whereas corresponding due dates for issuance of TDS certificates is also extended by one month to July 15.

Last date for filing belated, revised returns for all categories of taxpayers has been extended by one month from December 31, 2021 to January 31, 2022.

“… for taxpayers, whose entire income tax liability is not discharged by TDS and advance tax and such shortfall is more than Rs 1 lakh, they should endeavour to file their ITR within respective original due date to avoid charge of interest u/S 234A, which is charged on filing ITR beyond the original due date at the rate of 1 per cent per month for every month/part thereof after original due date of filing ITR,” Shailesh Kumar, partner, Nangia & Co LLP, said.

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