ITR for Assessment Year 2021-22.
The government should consider doubling the limits under Section 80D.
The government should consider doubling the limits under Section 80D.
Income Tax Return Due Dates Extended for AY 2021-22: The Government has extended the due date of filing ITR for Assessment Year 2021-22 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) also extended the ITR filing deadline for companies by a month till November 30.
According to the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31. These due dates have now been extended.
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In a circular today, the CBDT said the extension of time limits is being given for certain tax compliances “to provide relief to taxpayers in view of the severe pandemic”.
Commenting on the extension of due dates, Archit Gupta, Founder, and CEO, ClearTax, said: “Various due date relaxations will reduce compliance burden for businesses that have been struggling in the current crisis. This also emphasises how critical it is for businesses to move their tax compliance fully online. The extension of due dates for various compliances for employers as well extension of tax filing due date for taxpayers is important in the current situation as the second wave of covid is raging through several states in India.
Form 16 deadline
The deadline for issuing Form 16 by employers to employees has been extended by a month till July 15, 2021, the CBDT circular said.