Centre Extends Deadline for Filing Income Tax Returns Till March 15 | Details Here

The Central government on Monday extended the deadline for Income Tax Return deadline to March 15

Updated: January 11, 2022 10:52 PM IST

By India.com News Desk | Edited by Victor Dasgupta

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The taxpayer can check their I-T refund status easily on the official site.

New Delhi: The Central government on Monday extended the deadline for Income Tax Return deadline to March 15. The deadline has been extended due to difficulties being faced by the taxpayers due to the prevailing Coronavirus situation, the notification issued by the department of revenue of the finance ministry said.

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

This is the third extension given to corporates for filing the income tax return for 2020-21 fiscal. The original deadline for filing ITR for corporates was October 31, and those with transfer pricing transactions was November 30.

The Central Board of Direct Taxes (CBDT) in a statement said that on consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit, it has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 (2020-21 fiscal).

The extended deadline for filing ITR for corporates is now March 15, and the tax audit report is February 15, 2022.

The last date for filing 2020-21 ITRs without penalty for individual taxpayers ended on December 31, 2021, and nearly 5.89 crore ITR was filed by the due date.

Nangia & Co LLP Partner Shailesh Kumar said considering the difficulty of taxpayers in light of the fresh surge of COVID cases in the country and also technical glitches being faced in filing Tax Audit Report and other compliances related to filing ITR, the extension of around one month granted by the government to taxpayers for filing their Tax Audit Report and extension of 15 days for cases covered by Transfer Pricing compliances is a welcome move and will grant relief to taxpayers.

AMRG & Associates Senior Partner Rajat Mohan said the finance ministry has finally accepted the request to allow additional time for taxpayers and audit professionals to complete the tax filings and it considers difficulties reported by the tax professionals due to COVID.

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Published Date: January 11, 2022 6:02 PM IST

Updated Date: January 11, 2022 10:52 PM IST