{"id":1093,"date":"2021-05-20T12:46:58","date_gmt":"2021-05-20T12:46:58","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=1093"},"modified":"2021-05-25T05:13:24","modified_gmt":"2021-05-25T05:13:24","slug":"extension-of-various-due-dates-under-the-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/extension-of-various-due-dates-under-the-income-tax-act-1961\/","title":{"rendered":"Extension of various Due dates under the Income Tax Act 1961"},"content":{"rendered":"\n

Circular No. 9 of 2021 \u2013 dt 20th<\/sup> May 2021 <\/strong><\/p>\n\n\n\n

Due dates of following compliances have been extended by the Central Board of Direct Taxes (CBDT) to provide relief to taxpayers in view of the severe pandemic.<\/p>\n\n\n\n

CBDT in exercise of powers U\/s 119 of the Income Tax Act 1961 provides relaxation in respect of following compliances.<\/p>\n\n\n\n

Sl<\/strong><\/td>Nature of Compliance<\/strong><\/td>Original Due Date<\/strong><\/td>Extended Due Date<\/strong><\/td><\/tr>
1<\/td>The Statement of Financial Transactions (SFT)<\/strong> \u2013 Rule 114E<\/td>31st<\/sup> May 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
2<\/td>The statement of Reportable Account for the financial year 2020 \u2013 Rule 114G<\/td>31st<\/sup> May 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
3<\/td>The Statement of Deduction of Tax \u2013 for Quarter 4 of FY 2020-21 \u2013 e-TDS returns – Rule 31A<\/strong><\/td>31st<\/sup> May 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
4<\/td>Issue of Form 16 – to employees in case of Salary income \u2013 Rule 31<\/td>15th<\/sup> June 2021<\/td>On or before 15th<\/sup> July 2021<\/td><\/tr>
5<\/td>TDS\/TCS Book adjustment statement in Form No.24G<\/strong> for the month of May 2021 \u2013 Rule 30 & 37CA<\/td>15th<\/sup> June 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
6<\/td>The statement of deductions of Tax from contributions paid by trustees of an approved superannuation fund for the FY 2020-21 \u2013 Rule 33<\/td>31st<\/sup> May 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
7<\/td>The statement of Income Paid or Credited by an Investment fund to its Unit holder in Form No.64D for FY 2020-21 \u2013 Rule 12CB<\/td>15th<\/sup> June 2021<\/td>On or before 30th<\/sup> June 2021<\/td><\/tr>
8<\/td>The statement of Income Paid or Credited by an Investment fund to its Unit holder in Form No.64C for FY 2020-21 \u2013 Rule 12CB<\/td>30th<\/sup> June 2021<\/td>On or before 15th<\/sup> July 2021<\/td><\/tr>
9*<\/td>Due date of furnishing return of Income for the AY 2021-22 \u2013 (Non-Audit Cases)<\/strong><\/td>31st<\/sup> July 2021<\/td>30th<\/sup> September 2021<\/td><\/tr>
10<\/td>Due date of furnishing of Report of Audit for the AY 2021-22 –Tax Audit<\/strong><\/td>30th<\/sup> September 2021<\/td>31st<\/sup> October 2021<\/td><\/tr>
11<\/td>Due date of furnishing of Report of an Accountant \u2013 U\/s 92E \u2013 Transfer Pricing Report<\/strong><\/td>31st<\/sup> October 2021<\/td>30th<\/sup> November 2021<\/td><\/tr>
12*<\/td>Due date of furnishing return of Income for the AY 2021-22 \u2013 Audit Cases<\/strong><\/td>31st<\/sup> October 2021<\/td>30th<\/sup> November 2021<\/td><\/tr>
13*<\/td>Due date of furnishing return of Income for the AY 2021-22 \u2013 Transfer Pricing Cases<\/strong><\/td>30th<\/sup> November 2021<\/td>31st<\/sup> December 2021<\/td><\/tr>
14<\/td>Due date of furnishing of Belated \/ revised return<\/strong> of Income for the AY 2021-22 \u2013 U\/s 139(4) \/ (5) – cases<\/td>31st<\/sup> December 2021<\/td>31st<\/sup> January 2022<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Clarification 1 – *if the Tax payment is exceeding Rs.1 lakh then Interest U\/s 234A will be applicable. Hence, the extension of due date is not applicable as far as payment of taxes if the tax liability is more than Rs.1 lakh.<\/p>\n\n\n\n

Clarification 2 \u2013 in case of Resident Individual \u2013 if the tax payable u\/s 140A is paid on or before original due date (i.e., 31st<\/sup> July 2021) then the taxes paid will be deemed as Advance tax for the AY 2021-22.<\/p>\n\n\n\n

For full detail click the link below :<\/strong><\/p>\n\n\n\n

https:\/\/www.dropbox.com\/s\/37tiejgelnhyqrz\/1.%20Extention%20due%20dates%20for%20certain%20compliances.pdf?dl=0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Circular No. 9 of 2021 \u2013 dt 20th May 2021 Due dates of following compliances have been extended by the Central Board of Direct Taxes (CBDT) to provide relief to taxpayers in view of the severe pandemic. CBDT in exercise of powers U\/s 119 of the Income Tax Act 1961 provides relaxation in respect of […]<\/p>\n","protected":false},"author":1,"featured_media":347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,59],"tags":[75,79],"class_list":["post-1093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","category-income-tax-circulars","tag-75","tag-incometax-circular"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=1093"}],"version-history":[{"count":3,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1093\/revisions"}],"predecessor-version":[{"id":1105,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1093\/revisions\/1105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/347"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=1093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=1093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=1093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}