In this corona epidemic everyone is troubled and is facing the dictos. There is still a lockdown in many cases in large cases. Due to this the Central Board of Direct Taxes (CBDT), which formulates policies for the Income Tax Department, has made an announcement for the taxpayers. At the same time, the date of income tax return has been increased.
File Income Tax till 30 September
CBDT has said that for the assessment year 2021-22, taxpayers can now file their income tax returns by September 30. The CBDT has now extended the last date of 31 July 2021 by two months under sub-section-1 of section -139 of the Income Tax Act.
Apart from this, CBDT has also pushed the last date of completion of many more Compliance to taxpayers.
Financial transaction figures as of June 30
The CBDT has also announced that financial transaction information (SFT) for the financial year 2020-21 to be deposited by 31 May 2021 can now be submitted by 30 June. Along with this, the last date of reportable accounts for calendar year 2020 has also been increased from 31 May to 30 June.
‘July 15 is the last date for completing Form-16’
The date of giving information about TDS is also given in Form 16. Earlier, it had a deadline till 15 June but now it has been extended to 16 July.
The date has also been extended to the last date of accounting of the tax deduction made in the last quarter of the financial year 2020-21. It has now been extended from 31 May to 30 June.
For the financial year 2021-2022 , they also extended the Audit date. It had a deadline till 30th september but now it has been extended to 31st october.