In view of the severe COVID-19 pandemic, the CBDT has extended due dates for the completion of certain income-tax compliances. The government extends timelines for ITR, TDS, Tax Audit, SFTs and Other Compliances to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic. CBDT has issued an Order u/s 119 of the Income-tax Act, 1961 vide Circular No. 9/2021 in F. No.225/49/2021-ITA-II dated 20.05.2021 to this effect.
The relief to taxpayers has been granted by the CBDT by extending due dates of 14 various compliances under the Income-tax Act which are as follows-
1) The Statement of Financial Transactions (SFT) for the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished on or before 30 June 2021;
2) The Statement of Reportable Account for the calendar year 2020, required to be furnished on or before 31st May 2021 under Rule 114G of the Rules, may be furnished on or before 30th June 2021;
3) The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 31A of the Rules, may be furnished on or before 30th June 2021;
4) The Certificate of Tax Deducted at Source in Form No 16, required to be furnished to the employee by 15th June 2021 under Rule 31 of the Rules, may be furnished on or before 15th July 2021;
5) The TDS/TCS Book Adjustment Statement in Form No 24G for the month of May 2021, required to be furnished on or before 15a June 2021 under Rule 30 and Rule 37CA of the Rules, may be furnished on or before 30th June 2021;
6) The Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund for the Financial Year 2020-21, required to be sent on or before 31st May 2021 under Rule 33 of the Rules, may be sent on or before 30th June 2021;
7) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, may be furnished on or before 30th June 2021;
8) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, may be furnished on or before 15th July 2021;
9) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021;
10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021;
11) The due date of furnishing 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 is 31st October 2021, is extended to 30th November 2021;
12) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, is extended to 30th November 2021;
13) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, is extended to 31st December 2021;
14) The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31st January 2022. Earlier, CBDT extended the due date of filing of belated and revised return for AY 2020-21 to May 31, 2021.
Earlier, CBDT vide Circular No. 8/2021 dated 30.04.2021, the following relaxations in certain compinaces were given-
1) Appeal before CIT (Appeals) may be filed by 31st May, 2021.
2) Income Tax Return required to be filed in response to notice u/s 148 may be filed by 31st May 2021.
3) Challan-cum-statement for tax deducted under section 194-IA (TDS on purchase of immovable property), Section 194-IB (TDS on payment of Rent by individuals) and section 194M (TDS on payment of commission, contractors, and professional by individuals) may be furnished till 31-05-2021 where the due date was 30-04-2021.
4) Similarly, Statement in Form No. 61 may be furnished till 31-05-2021 where the due date was 30-04-2021.
However, it should be noted that despite two times providing relaxation in certain compliances by extending the due dates, there is no relief given for the followings-
1) No extension of the due date for payment of TDS/TCS for the month of March 2021 which expires on 30th April 2021 despite the fact that many of the states were under full lockdown on that date and still continuing.
2) No extension of the due date for payment of TDS/TCS for the month of April 2021 which expires on 7th May 2021 despite the fact that many of the states were under full lockdown on that date and still continuing.
3) Even though there is an extension given for the TDS statement for the 4th Quarter of the FY 2020-21, there is no extension of the due date for the TCS statement for the 4th Quarter of the FY 2020-21.
4) There is no relief for applicability of extended date to lower TDS certificates and submission of Form 15G/Form 15H
5) Even though there is extension of due date for filing of return of income for AY 2021-22 from 31-7-2021 to 30-09-2021 and for companies and Audit Cases from 31-10-2021 to 30-11-2021, the assessee will have to pay interest under section 234A if the self assessment tax exceeds Rs. 1 Lakh.
In other words, there is relief from payment of interest u/s 234A if the self assessment tax payable does not exceed Rs. 1 Lakh. In case the self assessment tax liability exceeds Rs. 1 Lakh, there is no relief from payment of interest u/s 234A even after the extension.
6) Normally, any taxes paid by the 31st day of March of the previous year is considered as Advance Tax for the relevant assessment year. Thus, any taxes paid by 31st March 2021 is taken as advance tax for AY 2021-22.
The Circular has provided relief to resident Individuals covered u/s 207(2) that any taxes paid u/s 140A by 31st July 2021 shall be counted as advance tax for the AY 2021-22.
This will definitely help taxpayers in reducing his interest liability.
Section 207(2) applies to an individual who is a resident in India, and—
(a) does not have any income chargeable under the head "Profits and gains of business or profession"; and
(b) is of the age of 60 years or more at any time during the previous year.
Read Also: Tax Audit Due Date Prescribed and Return Filing Due Date Extended-Budget 2020
Finally, the extension of due dates of important compliances are as under-
Readers are aware that the Finance Act, 2021 has reduced the time limit to file belated/revised returns u/s 139(4)/(5) from 31st March of the Assessment Year to 31st December of the Assessment Year. Hence, for the AY 2021-22, the last date by which belated/revised return could have been filed was 31sty December, 2021. However, with this extension, the due date to file belated/revised returns u/s 139(4)/(5) for AY 2021-22 is 31st January 2022.
The government has issued a press release dated 20.5.2021 and an Order u/s 119 vide Circular No. 9/2021 dated 20.05.2021, in this regard.
The e-filing portal has also displayed a notice on its portal to inform that the taxpayers may file the responses to the defective notices till 31.05.2021. The message reads as under-
20/05/2021
Dear Taxpayers, Considering the COVID -19 situation and lockdown imposed in various parts of the country, the taxpayers may file the responses to the defective notices till 31.05.2021. The taxpayers can also file the belated and revised returns for AY 2020-21 till 31.05.2021.
Also Read:
Amendments and Changes in Time Limits by Finance Bill, 2021
Reduced Belated and Revised Return Filing Due Date
Read the full text of Circular No. 9/2021 dated 20.05.2021 on extension of Due Dates for ITR, TDS, Tax Audit, SFTs and Other Compliances under the Income Tax Act
Circular No. 7/2021
F. No.225/49/2021-ITA-II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, Dated 20th May, 2021
Subject: Extension of time limits of certain compliances to provide relief to taxpayers In view of the severe pandemic
The Central Board of Direct Taxes, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act") provides relaxation in respect of the following compliances:
1) The Statement of Financial Transactions (SFT) for the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished on or before 30 June 2021;
2) The Statement of Reportable Account for the calendar year 2020, required to be furnished on or before 31st May 2021 under Rule 114G of the Rules, may be furnished on or before 30th June 2021;
3) The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 31A of the Rules, may be furnished on or before 30th June 2021;
4) The Certificate of Tax Deducted at Source in Form No 16, required to be furnished to the employee by 15th June 2021 under Rule 31 of the Rules, may be furnished on or before 15th July 2021;
5) The TDS/TCS Book Adjustment Statement in Form No 24G for the month of May 2021, required to be furnished on or before 15a June 2021 under Rule 30 and Rule 37CA of the Rules, may be furnished on or before 30th June 2021;
6) The Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund for the Financial Year 2020-21, required to be sent on or before 31st May 2021 under Rule 33 of the Rules, may be sent on or before 30th June 2021;
7) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, may be furnished on or before 30th June 2021;
8) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, may be furnished on or before 15th July 2021;
9) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021;
10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021;
11) The due date of furnishing 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 is 31st October 2021, is extended to 30th November 2021;
12) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, is extended to 30th November 2021;
13) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, is extended to 31st December 2021;
14) The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31st January 2022. Earlier, CBDT extended the due date of filing of belated and revised return for AY 2020-21 to May 31, 2021.
Clarification 1: It is clarified that the extension of the dates as referred to in clauses (9), (12) and (13) above 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.
Clarification 2: For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under this Circular) provided in that Act, shall be deemed to be the advance tax.
(Prajna Paramita)
Director to the Government of India.
Download Copy of Circular No. 9/2021 Dated 20.05.2021 extending due dates for ITR, TDS, Tax Audit, SFTs and Other Compliances in pdf format
Read the full text of the Press Release dated 20.05.2021 on extension of Due Dates for ITR, TDS, Tax Audit, SFTs and Other Compliances under the Income Tax Act
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi, 20th May, 2021
PRESS RELEASE
Government extends certain timelines in light of severe pandemic
The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act, 1961 (hereinafter referred to as “the Act”) in the following cases, as under:
(i) The Statement of Financial Transactions (SFT) for the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished on or before 30 June 2021;
(ii) The Statement of Reportable Account for the calendar year 2020, required to be furnished on or before 31st May 2021 under Rule 114G of the Rules, may be furnished on or before 30th June 2021;
(iii) The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under Rule 31A of the Rules, may be furnished on or before 30th June 2021;
(iv) The Certificate of Tax Deducted at Source in Form No 16, required to be furnished to the employee by 15th June 2021 under Rule 31 of the Rules, may be furnished on or before 15th July 2021;
(v) The TDS/TCS Book Adjustment Statement in Form No 24G for the month of May 2021, required to be furnished on or before 15a June 2021 under Rule 30 and Rule 37CA of the Rules, may be furnished on or before 30th June 2021;
(vi) The Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund for the Financial Year 2020-21, required to be sent on or before 31st May 2021 under Rule 33 of the Rules, may be sent on or before 30th June 2021;
(vii) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, may be furnished on or before 30th June 2021;
(viii) The Statement of Income paid or credited by an investment fund to its unit holder in Form No 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, may be furnished on or before 15th July 2021;
(ix) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021;
(x) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, is extended to 31st October 2021;
(xi) The due date of furnishing 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 is 31st October 2021, is extended to 30th November 2021;
(xii) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, is extended to 30th November 2021;
(xiii) The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, is extended to 31st December 2021;
(xiv) The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31st January 2022. Earlier, CBDT extended the due date of filing of belated and revised return for AY 2020-21 to May 31, 2021.
It is clarified that the extension of the dates as referred to in clauses (ix), (xii) and (xiii) above 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 rupees one lakh. Further, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension ) provided in that Act, shall be deemed to be the advance tax.
CBDT Circular No.9/2021 in F.No.225/49/2021/ITA-II dated 20.05.2021 issued. The said Circular is available on www.incometaxindia.gov.in.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
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