The due date of filing ITR varies depending on the type of taxpayers viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI and the applicability of audit.

2. The last date for filing the income tax return is generally on 31 July of the assessment year (AY). The ITR must be filed for income earned from 1 April 2020 to 31 March 2021, latest by 31 July 2021 unless extended by the government.

3. In my view, the right time to file an Income Tax Return for the financial year 2020-21 is not before 15th June 2021.

4. In this article, an attempt has been made to explain the followings: –

(a) what are the/documents details required for filing Income Tax Return.

(b) The source from where details are picked up in pre-filled ITR Form / Form 26AS/ Form 16 / Form 16A.

(c) Why the return for the financial year should not be filed before 15th June 2021.

5. The prescribed ITR Forms and procedure of filing an Income Tax Return varies as per the income earned per year and income source like salary, business profit, investment profit, and so on. Certain documents are a must before preparing and submitting an Income Tax return.

6. FORM 26AS: Form 26AS is the most important document required before filing ITR. This Form is also known as the annual consolidated statement, which contains all tax-related information of the taxpayer i.e. details of tax deducted at source , advance tax etc.

6.1. Form 26AS also reflects details of Annual Information Return (AIR), which is filed by different entities based on what an individual has invested or spent, mostly high-value transactions

6.2 All these are required to be reported by 31 May 2021. This implies that till mid-June, pre-filled returns & Form 26AS would not be updated on the tax department’s website, and the taxpayer may not be able to file a tax return with correct information.

7. Form 26AS picks up the TDS details on the taxpayer’s income based on what is uploaded by the deductor.

7.1 A deductor is the person/entity who deducts the tax at the source on a specified payment made. The tax deducted by the deductor using such a TDS mechanism has to be deposited with the Income Tax Department within a prescribed time limit.

7.2 The TDS deductor is also required to report the details of tax deducted in a statement. Form 24Q, 26Q, 27Q, and 27EQ are the TDS return forms required to be presented by the deductor to Income Tax Department.

8. FORM 16: Form 16 is the basis for filing the income tax returns for a salaried employee. This is also known as the TDS (Tax Deducted at Source) certificate, provided by the employer after furnishing the information related to the taxes paid on behalf of the employee.

8.1 Form 16A is issued if tax is deducted under any provision except section 192.

9 TDS FORM 24Q: The employer deducts tax under Section 192 of the Income Tax Act, 1961, at the time of paying salary to the employee. Details of the salary paid and the TDS deducted from it are reported in Form 24Q. This form is submitted to the Income Tax Department on a quarterly basis.

9.1 Form 24Q is made up of two annexures – Annexure I and Annexure II. Annexure I of Form 24Q consists of details about the deductor, challans, and deductees. Details of deductee(s) to be mentioned include employee reference number (if available), name of the employee, PAN of the employee, date of payment/ credit, TDS Section code, TDS amount, the amount paid or credited, and education cess.

9.2 Annexure-II consists of salary details like the total breakup of the salary and deductions to be claimed by the employee. Annexure I is required to be filed on all four quarters of a financial year whereas Annexure II has to be submitted only on the fourth quarter of every financial year.

10. TDS Form 26Q: Form 26Q is used for the TDS on all the payments made other than the salary. It has to be submitted by the deductor every quarter and is applicable for TDS u/s 193 and 194 of the Income Tax Act of 1961. Form 26Q is used for TDS on income such as dividend securities, interest on securities, directors’ remuneration, professional fees, etc.

11. TDS Form 27Q: TDS Form 27Q is relevant for payments made except the salary to non-resident Indians and foreigners. It is used for the declaration of TDS for the NRIs and Foreigners. Form 27Q is submitted by the deductor every quarter and is relevant for TDS u/s 200(3) of the Income Tax Act of 1961. Form 26Q is used for TDS on additional income such as interest, bonus, or any other sum owed to NRI or foreigners.

12. TCS Form 27EQ Form 27EQ refers to the quarterly statement of TCS that reflects the details of the TDS u/s 206C of the Income Tax Act of 1961. It can also be called the statement that furnishes the Tax Collected at Source (TCS). The form 27EQ is submitted by the corporate deductors & collectors every quarter and it is mandatory to furnish TAN in this form.

13. Form 16/16A will be issued by the deductor after filing the TDS returns.

14. PRE-FILLED ITR FORM: Presently, the ITR Forms come pre-filled with details of salary income, tax deducted at source, tax payments, etc to ease the compliance burden of taxpayers.

The Finance Minister, in her Budget speech for Finance Bill, 2021, announced that from FY 2021-22, the details of capital gains from listed securities, dividend income, and interest from banks, post office, etc, will be pre-filled in ITR Forms.

The information is pre filled Form is also reflected in Form 26AS available in taxpayer’s account at www.incometaxindiaefiling.gov.in.

15. The last date of filing TDS returns for the 4th quarter of the financial year 2020-21 is 31st May 2021 and for TCS return, it is 15th May 2021.

16. Thus, it is advisable that tax payers should file their Income Tax Return only after 15th June 2021 as by then, the Pre-filled IT Return /Form 26AS / Form 16 will reflect updated details of taxable income and tax deducted thereon.

****

Disclaimer: The article is for education purposes only.

The author can be approached at [email protected]

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65 Comments

  1. sunil yadav says:

    hi mam happy to see your explanation regarding the issues of fellow tax payers…. could you please tell me the correct process and time line to fill the 10 e form on new portal( regarding reception of pay as the arrears).. right now on new portal i am unable to find the 10 e form in –efile –> incometax return forms

  2. Sunil Hajra says:

    All questions and answer I have gone through.It is nicely explained.Thank you madam Anita. I have got my necessary answer regarding Itr. It will be also useful to everybody who wants to have knowledge on itr. Thank you lot.

  3. Rajesh Mishra says:

    Very useful information. I too not get any option to file ITR for assessment year 2021-22. Better to wait till publish. If any one need Digital Signature please visit Apicountry.com

  4. Michelle says:

    I can’t see the ITR 1 for AY 2021- 22 on the e-filing website? Is it uploaded by the government or am I missing something? Plz help.

  5. AA says:

    TRACES portal login for NRI has always been having problem. I have never been able to download Form 26AS since I became NRI 5 years back and having to manually calculate from Form16A. why can’t they fix such simple functionality for years?

  6. Ripa Choudhury says:

    As per my SB A/C Bank(s) statement the TDS deducted but not reflected in 26AS statement as downloaded from IT website. Please suggest

  7. Ramdas Divgi says:

    Thank you Anitaji. I was wondering why the efiling
    website doesn’t allow me to select AY 2021-22. I read your article. I hope the efiling website will allow me to file tax returns on 15th June or after that with prefilled data . Thanks again and with best regards. Ramdas Divgi.

  8. Dr.James says:

    I have not filed TDS Returns for the last Fiscal Year 2019-2020.. Now I have retired I want to file TDS return for the Year 2020-2021, Please guide me what are the documentary proofs required for filing the same on line

    1. Anita Bhadra says:

      Sir
      Download your Form 26 AS from the e-filing portal and Form 16 ( TDS certificate from the employer ).

      The last chance to file a belated return for FY 2019-20, is extended. It’s 31st May 2021.

  9. Ranjeet Kumar says:

    I am a psu banker. I have found arears from November 2017 to Oct 2020. My tds cutt Rs. 33000 . How can filled itr for return ?

    1. Anita Bhadra says:

      Sir, Kindly read the article.
      Refer to Para 3 of the article above. I have mentioned that the right time to file return is not before 15th June as Form 26AS is not yet updated

  10. Dharmendra says:

    Very good information on IT

    Can i file ITR for year 2017-18 and before as i did not filled due to unawareness at that time. although i am filling my ITR since three years regularly.

    1. Anita Bhadra says:

      Thank you sir for your humble comment.
      You cannot file ITR for the year 2017-18 now.

      However, for the claim of Refund or Carry Forward of Loss or Set Off of Loss, a condonation request can be submitted for the last 6 AY returns

      CBDT vides circular no. 9/2015 Dated 9-6-2015 provides guidelines

  11. Deepak Kumar Kundu says:

    This is regarding form 16. While downloading 26AS it takes confirmation that an employee has filled the details from Form16 received from the employer. The question is whether an employee can force his employer to give form 16? This is particularly in case of retired employees. Why the employer should not be held responsible for not providing Form16 compulsorily to every employee?

  12. Sachi Srinivasan says:

    At least sr citizens irrespective of age should be allowed to file returns offline.
    They are not familiar with online systems.
    CA’s are charging huge fees.

  13. Venkatesha Gupta says:

    If the Government can furnish the prefilled ITR with all details of income and TDS/TCS, why not finalise tax payable/refund and advise the taxpayers at least in case of salaried having other income and leave it to them to file a revised ITR where necessary.

  14. Lalit Kumar singla says:

    Why the government giving date of first April when no one can file without 26As In my view it should start from mid of June till 31 st of December.Also sr citizens shoud be exempted from filing on line return.As most of them have to depend on Ca who charges hepty amounts.in my view india is very behind of this technology in camparison to other developed countries like USA ,UK etc & there are possibly of frauds.

    1. Anita Bhadra says:

      Jaldi hi suru hoingein .

      I Tax department has updated the e-filing portal dated 03/04/2021 indicating that:-

      (a) ITR submission for AY 2021-22 will be made available shortly.

      (b) Users can now download and fill the offline utility for ITR 1 & 4 (AY 2021-22). The utility for other ITRs will be enabled shortly

      1. Taxpayer says:

        When I go online to file return for FY 2020-21 which is AY 2021-22 the option of AY 2021-22 is not available in the drop down.
        How come they have not yet updated it online.
        In this day and age especially with covid raging, is the government asking us to fill offline paper return now ?

  15. Adv Moosa Sheliya says:

    In this situation Govt. Should
    1. Income Tax Due date should be 31st Dec 2021
    2. GST Due Date should be the last day of each month that is for the month of May 2021 GST return due date should be 30th June 2021

  16. Raghuraman says:

    There is option to file revised return before the due date. When we have definite and ascertained income and we did cross the thresholds of cash transactions and we have proper statements from Employers on TDS ( salaried persons ) we can file return even before 15/6

    1. Anita Bhadra says:

      The option is available. It is just a suggestion to file return after 15th June to avoid mismatch in 26AS / Form 16/ Pre-filled return and the actual details

  17. R..venkatasubramanian says:

    I think the last date to file TDS returns have been extended to 30th June,2021.It is customary for deductions to wait till last date to file the returns.Besides it takes a fortnight for IT website to get updated.Hencr filing time for assesses is very short every year leave alone pandemic affected years.The million dollar question is when everything is computerized why TDS deductions are given time for 2 months to file returns.The date 31st May was fixed when everything is manual.This has to be fixed as 30th April.

    1. Anita Bhadra says:

      To the best of my knowledge, no such notification has been issued by the CBDT extending the TDS filing due date as 30th June 2021

  18. Tiru Narayan says:

    Anita Bhadra: Do ALL the ITR forms are prefilled? A few years ago, I saw only ITR-1 was prefilled. If all are prefilled now, excellent.

    I am a NRI with simple Returns. I completed ITR-1, but IT Dept. asked me to fill ITR-2. It cannot explain why NRI’s cannot use ITR-1, except to say that is the rule. Just curious, why?

    1. Anita Bhadra says:

      Now, details in other ITRs will also be pre-filled. Capital gains from listed securities, dividend income, and interest from banks, post offices, etc. will also be pre-filled from the current financial year.

      I think it is only a rule that restricts NRI to file ITR 1

  19. VIJAY PUROHIT says:

    can you confirm SFT FORM 61A FOR DIVIDEND IS APPLICABLE FOR FY 2020-21 DIVIDEND PAYMENT OR FOR FY 2021-22 DIVIDEND PAYMENT

    1. Anita Bhadra says:

      FY 2020-21
      Refer CBDT Notification No. 3/ 2021 dated 30th April 2021: –
      Para 2:- Dividend income etc to be reported
      Para 6 – The statement of financial transactions relating to Financial Year 2020-21 shall be furnished on or before the 31st May 2021

  20. S. KRISHNAN says:

    I Have Been requesting the Finance Ministry / Incoe
    Tad Depatments That All The Banks , NBFC , Private Companies ,Should Furnish /Enter All The Payments / Interests Paid / Credited To An Individual / Assessee , In The FORM 26 – AS
    Statement , Every Quarter , If Not Monthly ,
    Irrespective Of The Fact Whether Ant Tax Is Deducted At Source Or Not ; In Some Cases
    No T D S Will Be There As The Individual /
    Assessee , As He / She Might Have Submitted
    Form 15 G OR 15 H ; I Find All Are Not Filling
    The Details In FORM 26 – AS STATEMENT ;
    some banks / companies are filling this Form 26 – As even if there is no TDS ; Why The Govt.
    Can ‘ t Instruct All To Fill Up The Form 26 – AS ;This Piece-meal system is ridiclous ; either
    nobody ahould enter the detais or all should
    enter all the details which will facilitate all ,
    assess , govt. , iI T dept .;; otherwise the
    present present pre-filled in I T R Form Is Of
    No use any anybody ;

  21. R SUBRAMANIAN says:

    The so called revised Form 26AS is yet to appear in the TRACES portal.Moreover,till date most of the Tax deductors have not issued Form 16A even for Q1 of FY2020-21.

  22. SESHACHARY KOMANDURI says:

    The last date of filing TDS returns for the 4th quarter of the financial year 2020-21 is 31st May 2021 and for TCS return, it is 15th May 2021 — Whether these dates of 15 May and 31 May still hold good or were they extended?

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