Income Tax (CBDT) Due Date Extended beyond May, 2021

Latest News

The Board of Direct Taxes (Income Tax Department) vide circular No. 09/2021, (F. NO.225/49/2021-ITA-1I dated 20.05.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued circular w.r.t. Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic and spike in Covid-19 cases:

Extension due date Table

Sr No Nature of Extension Original due date New Due Dates
1 Statement of Financial Transact ions u/s 285BA (SFT) 31.05.2021 30.06.2021
2 Statement of Reportable Account under Rule 114G 31.05.2021 30.06.2021
3 Statement of Tax deduction at source for the quarter ending 3151 March 2021 31.05.2021 30.06.2021
4 Issue of TDS certificates in Form 16 for the Financial Year 2020-

 

21

15.06.2021 15.07.2021
5 TDS/TCS Book adjustment statement in Form 24G for the

 

month of May 2021

15.06.2021 30.06.2021
6 Statement of Deduction of Tax in the case of superannuation fund for FY 2021 31.05.2021 30.06.2021
7 Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64D for FY 2021 15.06.2021 30.06.2021
8 Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64C for FY 2021 30.06.2021 15.07.2021
9 Income Tax Returns – Normal assessee without audits – FY 2021 31.07.2021 30.09.2021
10 Filing of Audit Reports viz. Tax Audit Reports, Form 67 etc. – FY 2021 30.09.2021 31.10.2021
11 Due date of Furnishing Report from Accountant in respect of International Transactions covered  u/s 92E 31.10.2021 30.11.2021
12 Corporate assessee or Firm covered whose accounts required to be audited or Partner of Firm whose accounts are required to be audited or any assessee other than Corporate and Firm whose accounts are required to be audited 31.10.2021 30.11.2021
13 Assessee required to furnish return u/s 92E in respect of international Transactions 30.11.2021 31.12.2021
14 Belated Returns and Revised Returns 31.12.2021 31.01.2022

Kindly Note that: Note: all above extensions is planned in view of New ITD portal to be launched from June 7,,2021.

  • Clarifications by CBDT:
  1. Non – Applicability: the extension of the dates as referred to in clauses (9), (12) and (13) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.
  2. For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under this Circular) provided in that Act, shall be deemed to be the advance tax.

Disclaimer:

Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Author: Lalit Rajput (Company Secretary)