ITR Alert! Income tax return last date.

As per the Income Tax Act, income tax is paid by those individuals or businesses covered under the specified income criteria. It is thus mandatory for those to file income tax returns within the specified time limit to avoid the penalties imposed under the Act. Filing returns after the due date attracts late filing fees, and it can also create problems while getting a loan.

This year the government has extended the due dates of filing income tax returns for the second time due to technical issues with the e-filing portal. This article covers the latest extension provided to file income tax returns.

As per the press release by the Ministry of Finance, the Department of Revenue Central Board of Direct Taxes dated September 09, 2021, has provided the extended due dates for Income Tax filing and other various audit reports for the A/Y 2021-22.

Press Release Highlights:

The highlights of the press release are as follows: 

• Earlier Extension: As per section 139 (1) of the Act, the last date for filing Return of Income for the A/Y 2021-22 was July 31, 2021, which was extended to September 30, 2021, by Circular No.9/2021 dated 20.05.2021.>

Current Extension: Due date for such Return of Income for the A/Y 2021-22 has been extended to December 31, 2021.

• Earlier Extension: The due date of the Audit report as per the Act for the P/Y 2020-21 was September 30, 2021. This was extended to October 31, 2021, by Circular No.9/2021, dated 20.05.2021.

Current Extension: Due date for the Report of Audit for P/Y 2020-21 has been extended to January 15, 2022.

• Earlier Extension: As per Section 92E of the Act, the Report from an Accountant by those entering into an international transaction/specified domestic transaction for the P/Y 2020-21 was October 31, 2021. This was extended to November 30, 2021, by Circular No.9/2021, dated 20.05.2021.

Current Extension: Due date for providing Report from Accountant by those entering into an international transaction/specified domestic transaction for P/Y 2020-21 has been extended to January 31, 2022.

• Earlier Extension: As per Section 139(1) of the Act, the due date for filing Return of Income for the A/Y 2021-22 was October 31, 2021. This was extended to November 30, 2021, by Circular No.9/2021, dated 20.05.2021.

Current Extension: Due date for such Return of Income for the A/Y 2021-22 has been extended to February 15, 2022.

• Earlier Extension: Return of Income for the A/Y 2021-22 under Section 139(1) of the Act, which was to be furnished by November 30, 2021, was extended to December 31, 2021, vide Circular No.9/2021 dated 20.05.2021.

Current Extension: Due date for such return has been extended to February 28, 2022.

• Earlier Extension: Belated/revised Return of Income for the A/Y 2021-22 under sections 139(4) and 139(5) will be furnished by December 31, 2021. This date was extended to January 31, 2022, vide Circular No.9/2021, dated 20.05.2021.

Current Extension: Belated/revised Return of Income for the A/Y 2021-22 has been extended to March 31, 2022.