Arjuna (Fictional Character): Krishna, the CBDT has issued a circular on 09.09.2021 for extension of due dates for various returns and compliances under the Income Tax Act.

Krishna, (Fictional Character): Arjuna, due to technical glitches on the new Income Tax portal, the due dates for various returns has been extended to help taxpayers.



Arjuna: Krishna, which due dates have been extended in the above circular?

Krishna: Arjuna, Some of the important due dates that have been extended are as follows:

Particulars Original Due Date Extended Due Date as per Circular dated 20.05.2021 Further Extended Due Date As per Circular dated 09.09.2021
Return of Income where audit is not applicable 31-07-2021 30-09-2021 31-12-2021
Tax Audit Report 30-09-2021 31-10-2021 15-01-2022
Audit report under sec 31-10-2021 30-11-2021 31-01-2022
92E(Transfer Pricing)
Return of Income where audit is applicable 31-10-2021 30-11-2021 15-02-2022
Return of Income under sec 92E 30-11-2021 31-12-2021 28-02-2022
Belated/revised return of income for A.Y.2021-2022 31-12-2021 31-01-2022 31-03-2022

Arjuna: Krishna, what care should be taken while availing the benefit of relaxation?

Krishna: Arjuna, it should be kept in mind with respect to the filing of income tax return, that the due date has been extended only for filing of return. Hence interest u/s 234A shall continue to be leviable where the self-assessment tax payable exceeds Rs. 1 lakh and return is filed after the original due date.

Arjuna: Krishna, the above circular will provide relief to what extent?

Krishna: Arjuna, due to technical glitches on the new Income Tax portal, the Central Government has extended the due dates of various returns to help taxpayers. The relaxations have been provided only to a limited extent.

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1. Vice-Chairmen of WIRC of ICAI for the year 2015-2021. 2. Youngest Chairman of Aurangabad Branch of WIRC of ICAI in 2002. 3. Author of Popular Tax articles series based on Krishna and Arjuna conversation i.e “KARNITI” published in Lokmat on every Monday. Till date 335+ weekly articles ha View Full Profile

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September 2021