NEW DELHI:
The government on Tuesday extended till March 15 the deadline for corporates to file Income Tax returns for the fiscal ended March 2021.
The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15.
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).
On consideration of difficulties reported by taxpayers/stakeholders due to Covid & in e-filing of Audit reports for AY 2021-22 under the IT Act, 1961, CBDT further extends due dates for filing of Audit reports & ITRs for AY 21-22. Circular No. 01/2022 dated 11.01.2022 issued. pic.twitter.com/2Ggata8Bq3
— Income Tax India (@IncomeTaxIndia) January 11, 2022
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.
ಇದನ್ನೂ ಓದಿ: 2020–21ರ ಐಟಿಆರ್ ಸಲ್ಲಿಕೆ ಗಡುವು ಮಾರ್ಚ್ 15ರ ವರೆಗೆ ವಿಸ್ತರಣೆ
“This will come as a substantial relief for all the corporate taxpayers. However, no relief has been extended to salaried class individuals and MSME non-auditable non-corporate businesses,” Mohan added. PTI
