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.
All Extended Income Tax Due Dates Chart
| Particulars | Old Due Date | Extended Due Date |
|---|---|---|
| The due date for filing return of income for AY 2021-22 | 31st July 2021 | 30th September 2021 |
| Due date of Filing Return of Income for Tax Audit Assessee for AY 2021-22 | 31st October 2021 | 30th November 2021 |
| Due date of furnishing Tax Audit Report for AY 2021-22 | 30th September 2021 | 31st October 2021 |
| Due date of Filing Belated/Revised Return of income for AY 2021-22 | 31st December 2021 | 31st January 2022 |
| Due date of Transfer Pricing Study Report | —- | 30th November 2021 |
| SFT Due date extended for AY 2021-22 | 31st May 2021 | 30th June 2021 |
| Statement of Reportable Account for the calendar year 2020 | 31st May 2021 | 30th June 2021 |
| TDS Statement for Q4 of FY 2020-21 | 31st May 2021 | 30th June 2021 |
| Form 16 Issue Date | 15th June 2021 | 15th July 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.
Other Circulars of 2021
| Circular No. | Date | Details |
|---|---|---|
| Circular No. 17/2021 | 09 September 2021 | Article |
| Circular No. 16/2021 | 29 August 2021 | Article |
| Circular No. 15/2021 | 03 August 2021 | Article |
| Circular No. 14/2021 | 02 July 2021 | Article |
| Circular No. 13/2021 | 30 June 2021 | Article |
| Circular No. 12/2021 | 25 June 2021 | Article |
| Circular No. 11/2021 | 21 June 2021 | Article |
| Circular No. 10/2021 | 25 May 2021 | Article |
| Circular No. 09/2021 | 20 May 2021 | Article |
| Circular No. 08/2021 | 30 April 2021 | Article |
| Circular No. 07/2021 | 26 March 2021 | Download Here |
| Circular No. 06/2021 | 26 March 2021 | Download Here |
| Circular No. 05/2021 | 25 March 2021 | Download Here |
| Circular No. 04/2021 | 23 March 2021 | Download Here |
| Circular No. 03/2021 | 04 March 2021 | Download Here |
| Circular No. 02/2021 | 03 March 2021 | Download Here |
| Circular No. 01/2021 | 15 January 2021 | Download Here |
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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)