Circular No. 09/2021: Dated 20th May 2021

In view of the severe pandemic, the Central Board of Direct Taxes, in the exercise of its powers under Section 119 of the Income-tax Act, 1961, provides the following relaxation circular no. 09/2021 in respect of Income-tax compliances by the taxpayer.

Circular No. 09/2021:- Various Due Dates Extended For Income Tax Return, Tax Audit, TDS Statement

Govt extends timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic. For this purpose, CBDT issued “Circular No. 09/2021: Dated 20th May 2021”, it can be viewed and downloaded at the last of this article.

Also Read- Circular No. 10/2021 Dated 25th May 2021- Income Tax Department

All Extended Income Tax Due Dates Chart

ParticularsOld Due DateExtended Due Date
Due date for filing return of income for AY 2021-2231st July, 202130th September 2021
Due date of Filing Return of Income for Tax Audit Assessee for AY 2021-2231st October, 202130th November, 2021
Due date of furnishing Tax Audit Report for AY 2021-2230th September, 202131st October, 2021
Due date of Filing Belated/Revised Return of income for AY 2021-2231st December, 202131st January, 2022
Due date of Transfer Pricing Study Report—-30th November, 2021
SFT Due date extended for AY 2021-2231st May, 202130th June, 2021
Statement of Reportable Account for the calendar year 202031st May, 202130th June, 2021
TDS Statement for Q4 of FY 2020-2131st May, 202130th June, 2021
Form 16 Issue Date15th June, 202115th July, 2021
Circular No. 09/2021: Dated 20th May 2021

Clarification by CBDT

It is clarified that where net tax liability exceeds Rs. 1 Lakh, interest at the rate of 1% will be charged on delay deposit of income tax as per explanation 1 to section 234A of the Income Tax Act, 1961. (Interest under Section 234A, 234B, and 234C of Income Tax Act, 1961)

Also, In the case of an individual resident in India referred, the tax paid by him under section 140A of the Act within due date (without extension under the circular) provided in the Act, shall be deemed to be advance tax.

Details as per Circular No. 09/2021: Dated 20th May 2021– Extended Income Tax Due Dates

Firstly, the Statement of Financial Transactions (SFT) for the Financial Year 2020 21, required to be furnished on or before 31st May 2021 under Rule 114E of the Income-tax Rules, 1962, and various notifications issued thereunder, may be furnished on or before 30th June 2021.

Secondly, the Statement of Reportable Account for the calendar year 2020, required to be furnished on or before 31st May 2021 under Rule 114G of the Rules, may be furnished on or before 30th June 2021.

Thirdly, the Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 31A of the Rules, may be furnished on or before 30th June 2021.

Fourthly, the Certificate of Tax Deducted at Source in Form No 16, required to be furnished to the employee by 15th June 2021 under Rule 31 of the Rules, may be furnished on or before 15th July 2021.

Fifthly, the TDS/TCS Book Adjustment Statement in Form No 24G for the month of May 2021, required to be furnished on or before 15th June 2021 under Rule 30 and Rule 37CA of the Rules, may be furnished on or before 30th June 2021.

Sixthly, the Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund for the Financial Year 2020-21, required to be sent on or before 31st May 2021 under Rule 33 of the Rules, may be sent on or before 30th June 2021;

Seventhly, the Statement of Income paid or credited by an investment fund to its unit holder in Form No 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, may be furnished on or before 30th June 2021.

Eightly, the Statement of Income paid or credited by an investment fund to its unit holder in Form No 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, may be furnished on or before 15th July 2021.

Ninthly, the due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31 July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021.

Tenth, the due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021.

Eleventh, the due date of furnishing Report from an Accountant by persons entering into an international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31 October 2021, is extended to 30th November 2021.

Twelfth, the due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31 October 2021 under sub-section (1) of section 139 of the Act, is extended to 30th November 2021.

Thirteenth, the due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, is extended to 31st December 2021.

Lastly, the due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31 December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31st January 2022.

The CBDT clarified that the extension of the dates as referred to in clauses (9) (12) and (13) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds Rs. 1 lakh. The Board further clarified that in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under this Circular) provided in that Act, shall be deemed to be the advance tax.

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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