CBDT further extends due dates for filing of Income Tax Return (ITR)/ Tax Audit Report (TAR)/ Transfer Pricing Report (TPR), in respect of FY 2020-21/ AY 2021-22. This is the third occasion when such timelines have been extended by CBDT due to COVID/ Technical issues.
Recently, the ICAI has represented before the CBDT to waive the penalty and other consequences in respect of late filing of tax audit/ transfer pricing reports and certificates for AY 2021-22 upto 31/03/2022 due to COVID/ OMICRON and as a result CBDT has granted partial relief by way of third extension for AY 2021-22.
Earlier the ITR filing due dates have been extended, vide Circulars 9/2021 dt. 25/06/2021 and 17/2021 dt. 09/09/2021, to provide relief to taxpayers/ professionals in view of spread of COVID-19 pandemic and difficulties reported by the taxpayers and other stakeholders in e-filing thereof at the portal. Now again these timelines have been further extended vide Circular 1/2022 dt. 11/01/2022 for similar reasons. Summary of extended due dates is as under:
| Type of Compliance Requirement (AY 2021-22) | Original Due Date | Extension vide Circular 9/2021 | Extension vide Circular 17/2021 | Extension vide Circular 1/2022 |
| Income Tax Return (Assessees not subject to Audit): u/s 139(1) of the Income Tax Act, 1961 | 31/07/2021 | 30/09/2021 | 31/12/2021 | No Change |
| Income Tax Return (Assessees subject to Audit): u/s 139(1) of the Income Tax Act, 1961 | 31/10/2021 | 30/11/2021 | 15/02/2022 | 15/03/2022 |
| Income Tax Return (Assessees subject to Transfer Pricing Report): u/s 139(1) of the Income Tax Act, 1961 | 30/11/2021 | 31/12/2021 | 28/02/2022 | 15/03/2022 |
| Tax Audit Report: under any Provision/ Section of the Income Tax Act, 1961 | 30/09/2021 | 31/10/2021 | 15/01/2022 | 15/02/2022 |
| Transfer Pricing Report: u/s 92E of the Income Tax Act, 1961 | 31/10/2021 | 30/11/2021 | 31/01/2022 | 15/02/2022 |
| Belated/ Revised Income Tax Return: u/s 139(4)/ 139(5) of the Income Tax Act, 1961 | 31/12/2021 | 31/01/2022 | 31/03/2022 | No Change |
In the above Circulars, the CBDT has clarified that the extension of due dates for filing of Income Tax Return shall not affect the provisions under Explanation 1 to section 234A (Interest for default in furnishing ITR), if amount of tax payable exceeds Rs. 1 lakh.
Further, it has been clarified that in the case of a resident individual referred to in section 207(2), i.e. senior citizen not having any income from business or profession, the tax paid by him u/s 140A within the original due date (without extension), shall be deemed to be the advance tax.
Also, in this regard, CBDT has issued the Press Releases dt. 20/05/2021, 25/06/2021, 09/09/2021and 11/01/2022.
Govt. decision to further extend due dates for filing of income tax returns and tax audit/ transfer pricing report, etc. is definitely a commensurate move, keeping in view the current situation of the country which is facing restrictions and partial lockdown in different states due to wide spreading COVID-19/ OMICRON. Also it will provide relief to taxpayers/ professionals facing technical issues at the new e-filing portal of the Income Tax Department due to recent upgradation.
Last but not the least, delays in filing ITR beyond the extended due dates can cost more liability of Interest with each passing month. So hurry up… file your ITR Now.
Extension of deadline for filing of Income Tax Return for FY 2020-21 (AY 2021-22) by 2 months for individuals and by 1 month for companies, is a proactive step taken by the CBDT. Hope all goes well and no need arise for further extension of these due dates.
1. I am a senior citizen and not having any income from business or profession
2. My tax liability for AY 2021-22 is around Rs. 1.50 lakhs.
3. If I pay Rs. 1 lakh by 31/07/2021 and the balance Rs. 50,000 before filing the Income Tax Return, latest by 30/09/2021, will there be any incidence of interest?
4. I am given to understand that if I can pay Rs 1 lakh by 31/07/2021, this will be considered as my advance tax and the balance will not attract interest levy as it is less than Rs 1 lakh. I am anyway not subject to advance tax being a senior citizen and we were allowed to file the entire self assessment before filing Return. Can someone please clarify? Thanks
That’s right. Balance tax payable upto 1 lakh can be paid (without additional interest liability) upto 30/09/2021 (extended deadline) at the time of filing ITR in the given case.
Will extending the last date for filing of IT Returns by two months automatically extends last date for filing Form 67 to get Tax Relief under DTAA for AY 2021-22? Some glitches in e-filing existing in Form 67 e-filing. Please share.
Whether late fine U/s 234F will be payable if return filed within extended due dates?
Section 234F of the Income Tax Act, 1961 provides for levy of penalty on the late filing of return or say filing of return after the due date. In case the due date has been extended by the CBDT, the penalty u/s 234F can’t be levied provided the return is filed within the extended timeline.
Further, as per news reports, in several cases where the return is filed after 31/07/2021 the late filing fee of Rs. 5,000 has been erroneously charged by the new e-filing portal u/s 234F of the Income Tax Act, 1961, despite extension of deadline from 31/07/2021 to 30/09/2021. In such cases, the individuals concerned, who have paid such penalty of Rs. 5,000, can file an online rectification request, within the prescribed time limit of 4 years from the date of assessment order/ intimation. Others those who have not filed the return can wait for fixing of this technical glitch in the new e-filing portal of the Income Tax Deptt.
With regard to late filing interest/ penalty, the Income Tax Deptt has replied with 2 tweets in response to a CNBCTV18 tweet dt. 11/08/2021, as under:
1. The ITR software was rectified on 01/08/2021 itself to remove the error due to incorrect computation of interest u/s 234A and late fee u/s 234F. Taxpayers have been advised to use the latest version of the ITR preparation software or file online.
2. If, by any chance, someone has already submitted the ITR with such incorrect interest or late fee, the same will be correctly calculated while processing at CPC-ITR and the excess amount paid, if any, will be refunded in the normal course.
I am a senior citizen and not having any income from business or profession. My bank has deducted income tax from FD Interest. Can I mention that deducted amount in advance tax column?
That should form part of tds
In view of continuing technical glitches at the new e-filing portal, the above extended due dates for filing of Income Tax Returns in respect of AY 2021-22 are supposed to be suitably extended again. Let’s first hope that the new portal start functioning properly and then we can hope for the ‘fair play’ from the Income Tax Dept.
It seems CBDT has considered your request. ITR filing due dates have been suitably extended again.
Who is the actual beneficiary of the further extension of due dates for filing of Income Tax Return, Tax Audit Report, etc., like i) Professionals; ii) Tax Payers; iii) Assessing Officer and iv) Infosys?
I am a Senior Citizen having income from Pension, Bank Interest, Rent and mutual fund investments. The total tax on my income for the FY 2020-21 including TDS deducted is less than Rs. 1 lac. Will there be any penalty if I pay tax and file my return in October 2021?
No penalty will be levied if the return is filed within the extended deadline.
FOR LLP DUE DATE OF IT AUDIT REPORT WHICH DATE CONSIDER?
How can we justify the additional interest liability u/s 234A for taxpayers having balance tax liability of more than Rs. 1 lac, for income tax returns (ITRs) filed within the due dates/ timeline extended by the CBDT itself for own reasons of technical glitches at new portal?
New portal has not yet provisioned the Tax Audit forms for filing. No use of extension of ITR/ TAR filing due dates. Is there any update when these forms will be available tentatively?
Is transfer price audit forms are enabled by Income Tax department for FY 2020-21?
Today is 31/12/2021, the last day of extended timeline for ITR filing for AY 2021-22. Also it’s known to one and all that the due date anyways has to be extended for many reasons. Why the Government/ CBDT is not doing so well in time? Why the professionals and taxpayers are being stressed unnecessarily? I hope that the CBDT Order for extension of due date for ITR filing will be issued today in the early hours, instead of late in the evening or even tomorrow on 01/01/2022. Happy Filing and Happy New Year 2022 !!
It was very unfortunate that GOI/ CBDT didn’t extend the ITR filing due date beyond 31/12/2021. However, Govt./ CBDT should extend the Tax Audit Report due date appropriately beyond 15/01/2022, in view of extensive spread of COVID/ OMICRON and commensurate restrictions imposed by different State Governments on the movement of people, which may affect meeting the above said deadline, set by GOI long back unaware of the current scenario.
As per ET dt. 06/01/2022, the All Odisha Tax Advocates Association (AOTAA) has issued a legal notice to CBDT for not extending ITR filing due date for AY 2021-22 and for imposing late filing fee u/s 234F, despite many technical glitches in the new portal. Although they are fighting for ODISHA assessees, may be some relief for all come out.
@CA Shyam Lal: AOTAA has rightly pointed out that the old portal was functioning properly, Govt. hired Infosys to upgrade the portal after beginning of the process for e-filing for AY 2021-22, whereas CBDT is required to provide the Scheme for e-filing much in advance, as per past directions of different High Courts in this regard. CBDT can give excuse that we have already extended the ITR filing deadline twice for AY 2021-22, but the same has no taker as there were recurring technical issues during filing at new portal which has caused a lot of inconvenience to taxpayers and professionals.
Also the Chartered Accountants Association Surat (CAAS) has filed a writ with the Hon’ble Gujarat High Court requesting waiver of levy of penalty, interest, late fees, etc. on taxpayers until the new portal of the Income Tax Department is totally free from any technical issues/ glitches.
What is the last date for IT Return filing in the case of a Trust? along with Form 10BB duly certified by CA for AY 2021-2022.
I am facing difficulty in registering as chartered accountant in income tax portal. Even after entering all correct details as per member card, at last when i click the register tab.. nothing happens… the page not moving any further. Can someone help on this issue please.