The deadline for filing tax returns extended to December 31.

The deadline for filing tax returns extended to December 31.

The government said on Thursday that the deadline for filing income tax returns has been extended to December 31, citing the coronavirus outbreak and ongoing technical issues with its website.

Normally due by the end of July, the deadline was extended in May owing to the coronavirus epidemic until September 30.

“In light of the difficulties reported by taxpayers and other stakeholders in filing Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”), the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing Income Tax Returns and various reports of audit for the Assessment Year 2021-22,” according to the statement.

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Due to difficulties experienced by taxpayers in completing Income Tax Returns (ITRs) and Audit reports for the fiscal year 2021-22 under the ITAct, 1961, the CBDT has extended the deadlines for filing ITRs and Audit reports for the fiscal year 2021-22. Circular No.17/2021, dated September 9, 2021, was issued. 

9 September 2021 — Income Tax India

“The due period for filing Returns of Income for the Assessment Year 2021-22, which was 31st July 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September 2021 by Circular No.9/2021 dated 20.05.2021, is thus further extended to 31st December 2021,”.

From November 30, 2021, the CBDT has extended the deadline for filing ITRs for businesses until February 15, 2022.

ITR filing increased to 3.2 lakh daily in September, 2021

The deadlines for filing the tax audit report and the transfer price certificate have been extended from October 31 to January 15, 2022, and January 31, 2022, respectively, from the previous deadlines of October 31 and November 30.

The deadline for filing a late or revised income tax return has been extended by two months, to March 31, 2022.

Concerning the tax portal’s difficulties, the finance ministry stated on Wednesday that it is working with Infosys to provide a smooth filing experience for taxpayers.

The CBDT released the paperwork for filing I-T returns for the 2020-21 fiscal year on April 1.

Under section 115BAC of the Internal Revenue Code, the government had given taxpayers the option of choosing a new tax regime for the fiscal year 2020-21.

ITR filing increased to 3.2 lakh daily in September, 2021

ITR filing increased to 3.2 lakh daily in September, 2021

Updates to the Income Tax Department’s e-Filing portal

The Income Tax Department’s e-Filing site (www.incometax.gov.in) was introduced on June 7, 2021. Since then, taxpayers and professionals have experienced flaws and problems with the service. The Ministry of Finance has been keeping a close eye on how concerns with Infosys Ltd, the project’s Managed Services Provider, are being resolved.

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A number of technical issues are being addressed one by one, and the statistics for the various filings on the portal are showing a favourable trend. Since September 7, 2021, over 8.83 crore unique taxpayers have signed in, with a daily average of over 15.55 lakh in September 2021. In September 2021, the number of ITRs filed grew to 3.2 lakh per day, with 1.19 crore ITRs filed for the fiscal year 2021-22. Over 76.2 lakh taxpayers have used the portal’s online service to file their forms.

It’s good to see that over 94.88 lakh ITRs have been e-verified, which is required for the Centralized Processing Center to process them. 7.07 lakh ITRs have been processed so far.

Over 8.74 lakh Notices issued by the Department under the Faceless Assessment/Appeal/Penalty proceedings have been viewed by taxpayers, with over 2.61 lakh answers filed. On a daily basis in September 2021, an average of 8,285 Notices for e-proceedings were issued and 5,889 answers were filed.

Over 10.60 lakh statutory forms have been filed, including 7.86 lakh TDS statements, 1.03 lakh Form 10A for trusts/institutions registration, 0.87 lakh Form 10E for salary arrears, and 0.10 lakh Form 35 for appeals.

Applicability of Tax Audit under section 44AB or 44AD or 44ADA

66.44 lakh taxpayers have linked their Aadhaar numbers to their PAN numbers, and over 14.59 lakh e-PANs have been issued. In September 2021, around 0.50 lakh taxpayers were using these two services on a daily basis.

The Department is continuing to work with Infosys to ensure that taxpayers have a positive filing experience.

15CA/CB – Manual Filing Extended till July 15th

15CA/CB – Manual Filing Extended till July 15th

CBDT extends the date for manual filing of tax forms for foreign remittance

File Pic The Central Board of Direct Taxes, CBDT has granted further relaxation in the electronic filing of Income Tax Forms 15CA and 15CB and extended the date of filing from 30th June to 15th July 2021.

The taxpayers can now submit these forms in manual format to the authorized dealers by the 15th of this month. The CBDT in a statement said that authorized dealers are advised to accept such forms for the purpose of foreign remittances.

Higher TDS rates for Non-filers of Income-tax 

A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number. As per the Income-tax Act, 1961, there is a requirement to furnish forms 15CA and 15CB electronically.

Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance.

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