Report Wire - CBDT extends earnings tax return submitting deadline until March 15

Report Wire

News at Another Perspective

CBDT extends earnings tax return submitting deadline until March 15

2 min read
CBDT extends income tax return filing deadline till March 15

The Central Board of Direct Taxes (CBDT) on Tuesday prolonged the deadline of earnings tax return (ITR) submitting for Assessment Year 2021-22 until March 15, 2022, an announcement by the Ministry of Finance knowledgeable.
This is the third time that the deadline for submitting of the ITRs has been prolonged for the 2020-21 monetary 12 months. The earlier deadline was until December 31, 2021.
β€œOn 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 (the Act), the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22,” the federal government assertion stated.

On consideration of difficulties reported by taxpayers/stakeholders on account of Covid & in e-filing of Audit studies for AY 2021-22 beneath the IT Act, 1961, CBDT additional extends due dates for submitting of Audit studies & ITRs for AY 21-22. Circular No. 01/2022 dated 11.01.2022 issued.
β€” Income Tax India (@IncomeTaxIndia) January 11, 2022
Apart from the extension of the deadline for ITR submitting, CBDT has additionally prolonged the due date of furnishing of Report of Audit to February 15, 2022.
The extension comes following appeals by a number of charted accountant associations, taxpayers, tax professionals, and many others. to the federal government urging them to increase the due date of submission of tax audit studies and submitting of earnings tax returns. Various tax professionals and charted accountants had even posted about their considerations on social media platforms just a few days in the past and had trended hashtags urging for an extension of the due dates.