Financial Year 2020-21: Extended Income Tax Audit Due Date

Section 44AB of the Income Tax Act, 1961 deals with the audit of the accounts of a certain category of the person carrying on a business or engaged in a profession. The class of taxpayers listed under this section compulsorily have to get their accounts audited by a Chartered Accountants before the last date of the Income-tax Audit. Here in this post, we will show you the Extended Income Tax Audit Due Date for FY 2020-21.

A Tax Audit determines whether financial records and transactions are correctly recorded and accounted for. This ensures that the records reflect the taxpayer’s actual income and that the claims for deductions made are accurate.

Also Read- Tax Audit Limit For FY 2020-21: Know about Tax Audit u/s 44AB of The Income Tax Act

Income Tax Audit Due Date For FY 2020-21

For every year, the due date of furnishing the tax audit report is 30th September of the subsequent year. For Financial Year 2020-21, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic, the Income Tax Audit Due Date For FY 2020-21 has been extended to 31st October 2021.

The CBDT vide Circular no. 09/2021: dated 20th May 2021, extended the due date of furnishing of Report of Audit under any provision of the Act for the assessment year 2021-22, from 30th September 2021 to 31st October 2021.

ParticularsYearOriginal Due dateExtended Due date
Tax and Statutory Audit ReportFY 2020-21
(AY 2021-22)
30.09.202131st October 2021

Income Tax Audit Due Date Extension Circular For FY 2020-21

The Income Tax Department 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 from here-

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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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