Extension of time limits for compliances of Income Tax
May 22, 2021
The Central Board of Direct Taxes (“CBDT”) vide Income Tax Circular No. 9 of 2021, dated 20th May, 2021, has extended several due dates in respect of furnishing of Returns of Income, Audit Reports and other statutory compliances under the Income-tax Act, 1961 (“the Act”) read with the Income Tax Rules, 1962 (“the Rules”) for the period(s) pertaining to the Financial Year (“FY”) 2020-21 relevant to the Assessment Year (“AY”) 2021-22, considering the challenges faced by the taxpayers in resurgence of COVID-19 pandemic.
Income Tax Returns (ITRs) under section 139(1), (4) & (5) for the FY 2020-21
| S. No. | Particulars | Types of Assessees | Original Due Date | Revised Due Date |
| 1 | Audit not applicable | Individual and others | 31st July 2021 | 30th September 2021 |
| 2 | Audit applicable (Transfer Pricing provisions not applicable) | Corporate, Non-Corporate and Partner of a firm | 31st October 2021 | 30th November 2021 |
| 3 | Audit applicable (Transfer Pricing provisions applicable) | Assessees to which section 92E applies | 30th November 2021 | 31st December 2021 |
| 4 | Belated / Revised ITRs u/s 139(4) / (5) of the Act | All Assessees | 31st December 2021 | 31st January 2022 |
Tax Audit Report (“TAR”) and Transfer Pricing (“TP”) Certification Report for the FY 2020-21
| S. No. | Particulars | Types of Assessees | Original Due Date | Revised Due Date |
| 1 | TAR under any provision of the Act | Corporate, Non-Corporate and Partner of a firm | 30th September 2021 | 31st October 2021 |
| 2 | TP Report from an Accountant u/s 92E of the Act (Taxpayers having international or specified domestic transaction) | Corporate and Non-Corporate | 31st October 2021 | 30th November 2021 |
Other Statutory Compliances for the FY 2020-21
| S. No. | Particulars | Applicable Rule/ Section | Original Due Date | Revised Due Date |
| 1 | Statement of Financial Transactions (SFT) | Rule 114E | 31st May 2021 | 30th June 2021 |
| 2 | Statement of reportable account for the Calendar year 2020 | Rule 114G | 31st May 2021 | 30th June 2021 |
| 3 | Statement of Deduction of Tax (TDS Return) for the last quarter | Rule 31A | 31st May 2021 | 30th June 2021 |
| 4 | Certificate of Tax Deducted at Source (TDS Certificate) w.r.t. Salary in Form 16 | Rule 31 | 15th June 2021 | 15th July 2021 |
| 5 | TDS/TCS Book Adjustment Statement in Form 24G for the month of May 2021 | Rule 30 and 37CA | 15th June 2021 | 30th June 2021 |
| 6 | Statement of Deduction of Tax from contributions paid by the trustees of approved superannuation fund | Rule 33 | 31st May 2021 | 30th June 2021 |
| 7 | Statement of Income paid or credited by an investment fund to its unit holder in Form 64D | Rule 12CB | 15th June 2021 | 30th June 2021 |
| 8 | Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C | Rule 12CB | 30th June 2021 | 15th July 2021 |
Further to the above relaxations, it has also been clarified:
- The interest as per the provisions of Section 234A of the Act shall remain applicable in cases where the self-assessment tax payable exceeds INR 0.1 Million.
- For the purpose of above clarification, any amount of self-assessment tax paid u/s 140A of the Act within the due date specified u/s 139(1) of the Act (without considering above extensions), by a resident individual specified u/s 207(2) of the Act, shall be deemed to be the advance tax.
Last updated: 22/05/2021
Article contributed by:
Direct Tax Team
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