Breaking: Tax Audit Report and ITR due dates extended by CBDT for FY 2020-21

On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:

1. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 30th September 2021, in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 ofthe Act, as extended to 31st October 2021 and 15th January 2022 by CircularNo.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively,is hereby further extended to 15th February, 2022;

2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 31st October, 2021, in the case of assessees referred in clause (aa) of Explanation 2 to sub-section (1) of section 139of the Act, is hereby extended to 15th February, 2022;

3. The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which was 31st October 2021,as extended to 30th November 2021 and 31st January 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th February, 2022;

4. The due date of furnishing of Return of Income for the Assessment Year2021-22, which was 31st October 2021 under sub-section (1) of section 139 of the Act,as extended to 30th November 2021 and 15th February 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th March, 2022;

5. The due date of furnishing of Return of Income for the Assessment Year2021-22, which was 30th November 2021 under sub-section (1) of section 139 of the act, as extended to 31st December 2021 and 28th February 2022 by Circular No.9/2021dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th March, 2022.

Clarification 1: It is clarified that this extension 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 one lakh rupees.

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