Income tax department (IT department) recently extended the dates of filing returns for the year 2020-2021 due to covid-19.
New dates for filing returns
Individual taxpayers (other than audit) now can file their tax returns by September 30, 2021 which is extended by two months from July 30, 2021 (old date).
Central Board of Direct Taxes (CBDT) has also extended ITR filing deadline for companies (Tax Audit assessee) from October 31, 2021 (old date) to November 30, 2021.
Due date of furnishing Tax Audit Report extended to October 31, 2021 from September 30, 2021 (Old date).
Due date of Transfer Pricing Study Report extended to November 30, 2021.
Due date to file a Belated or Revised return has also been extended by 1 month from December 31, 2021 (Old date) to January 31, 2022.
Deadline for issuing Form 16
Deadline for issuing Form 16 by employers to employees has been extended by a month to July 15, 2021 from June 15, 2021 (old date).
Deadline for furnishing Financial Statement Report
Deadline for furnishing Financial Statement for financial institutions has been extended to June 30, 2021 from May 31, 2021 (old date).
Extension of time limit is given "to provide relief to taxpayers" and "to reduce burden for businesses that have been struggling in current crisis".
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