CBDT Extends Due Date for Tax Audit Report and Income Tax Returns

The Central Board of Direct Taxes (CBDT) has issued a notification announcing the extension of the deadline for filing Income tax return (ITR) and Various reports of audit for the financial year (FY) 2020-21, on consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit.
The details are as follows:
⦁ The due date of furnishing of Report of Audit under any provision of the Act for the FY 2020-21, as extended earlier to 15th January 2022 is further extended to 15th February, 2022.
⦁ The due date of furnishing of Report of Audit under any provision of the Act for the FY 2020-21, which was 31st October, 2021, is extended to 15th February, 2022.
⦁ The due date of furnishing of Return of Income for the FY 2020-21, which was extended earlier to 15th February 2022, is hereby further extended to 15th March, 2022.
⦁ The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the FY 2020-21, which was extended to 31st January 2022, is further extended to 15th February, 2022.
⦁ The due date of furnishing of Return of Income for the AY 2021-22, which was extended to 28th February, 2022, is further extended to 15th March, 2022.

Manthan

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Knowledge Source :

Standard Deduction in Income Tax Likely to Increase by 30-35% in Budget 2022

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