Assessment Year 2021-22: Income Tax Audit Extended 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 Income Tax Audit Due Date.

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- Last Date For Filing Income Tax Return For AY 2021-22

Income Tax Audit Due Date For AY 2021-22

For every year, the due date of furnishing the tax audit report is 30th September of the subsequent year. For AY 2021-22, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic, the due date of the income tax audit report has been extended to 15th January 2022.

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

Second Extension-The CBDT vide Circular no. 17/2021: dated 09th Sep 2021, extended the due date of furnishing of Report of Statutory Audit under any provision of the Act for the assessment year 2021-22, from 31st October 2021 to 15th January 2022.

ParticularsYearOriginal Due dateExtended Due date
Tax and Statutory Audit ReportFY 2020-21
(AY 2021-22)
30.09.202115.01.2022

Income Tax Audit Due Date Extension Circular For AY 2021-22

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. 17/2021: Dated 9th September 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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