Know about the Original Due Date, Extended Due Date & Re-Extended Due dates of filing Income Tax Returns & Audit Reports

The income tax return filing and tax audit report filing date for the AY 2021-22 has been extended much in advance.

The date has been extended not only for original returns but also for revised returns. Extension is also given for filing of Tax Audit/ Transfer Pricing Audit for the A.Y.  2021-22.

Here is a chart compiling the original dates, Extension done by Ciruclar NO. 9/2021 Dated 20/05/2021 and recent re-extension again done on 09/09/2021 vide Circular NO. 17/2021

Nature of Filing	Original Filing Due Date	First Extension granted vide Circular No. 9/2021 dated 20.05.2021	Re- Extension granted vide Circular No. 17/2021 dated 09.09.2021
Filing of Return of Income for the A.Y.  2021-22 (Non-Auditable Assessee)	31st July, 2021	30th September, 2021	31st December, 2021
Filing of Return of Income for the A.Y.  2021-22 (Who are required to get hte books of accounts audited u/s 44AB)	31st October, 2021	30th November, 2021	15th February, 2022
Filing of Audit Report for the Financial Year 2020-21	30th September, 2021	31st October, 2021	15th January, 2022
Filing of Transfer Pricing Report U/s 92E for the Financial Year 2020-21	31st October, 2021	30th November, 2021	31st January, 2022
Filing of Return of Income in case of Transfer Pricing	30th November, 2021	31st December, 2021	28th February, 2022
Filing of belated/revised Return of Income for the A.Y.  2021-22	31st December, 2021	31st January, 2022	31st March, 2022

The following clarification has also been provided while extending the dates.

1. Circular No. 09/2021 and 17/2021 shall not apply to Explanation 1 to section 234A of Income Tax Act, 1961 for Filing of Return of Income U/s 139 (1) 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 Sec 139 (1) exceeds one lakh rupees.

2. Tax paid U/s 140A of the Act within the due date (without extension under Circular No. 9/2021 dated 20.05.2021 and 17/2021 dated 09.09.2021) provided in that Act, shall be deemed to be the advance tax.

 

It means that though the dates has been extended the same may not be construed as immunity from payment of tax if the tax liability exceeds Rs. 1 Lakh. Failure to pay interest in such case will result in levy of interest u/s 234A. The relevant part of Explanation 1 to section 234A reads as under:

Section 234A

Explanation 1: In this section, “due date” means the date specified in sub-section (1) of section 139 as applicable in the case of the assessee……

For ease of reference, section 234A as well as Section 139(1) is re-produced hereunder:

 

F.—Interest chargeable in certain cases

Interest for defaults in furnishing return of income.

234A. (1) Where the return of income for any assessment year under sub-section (1) or sub-section (4) of section 139, or in response to a notice under sub-section (1) of section 142, is furnished after the due date, or is not furnished, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month comprised in the period commencing on the date immediately following the due date, and,—

 (a) where the return is furnished after the due date, ending on the date of furnishing of the return; or

 (b) where no return has been furnished, ending on the date of completion of the assessment under section 144,

on the amount of the tax on the total income as determined under sub-section (1) of section 143, and where a regular assessment is made, on the amount of the tax on the total income determined under regular assessment, as reduced by the amount of,—

  (i) advance tax, if any, paid;

 (ii) any tax deducted or collected at source;

(iii) any relief of tax allowed under section 90 on account of tax paid in a country outside India;

(iv) any relief of tax allowed under section 90A on account of tax paid in a specified territory outside India referred to in that section;

 (v) any deduction, from the Indian income-tax payable, allowed under section 91, on account of tax paid in a country outside India; and

(vi) any tax credit allowed to be set off in accordance with the provisions of section 115JAA or section 115JD.

Explanation 1.—In this section, “due date” means the date specified in sub-section (1) of section 139 as applicable in the case of the assessee.

Explanation 2.—In this sub-section, “tax on the total income as determined under sub-section (1) of section 143” shall not include the additional income-tax, if any, payable under section 143.

Explanation 3.—Where, in relation to an assessment year, an assessment is made for the first time under section 147 or section 153A, the assessment so made shall be regarded as a regular assessment for the purposes of this section.

Explanation 4.—[* * *]

(2) The interest payable under sub-section (1) shall be reduced by the interest, if any, paid under section 140A towards the interest chargeable under this section.

(3) Where the return of income for any assessment year, required by a notice under section 148 or section 153A issued after the determination of income under sub-section (1) of section 143 or after the completion of an assessment under sub-section (3) of section 143 or section 144 or section 147, is furnished after the expiry of the time allowed under such notice, or is not furnished, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month comprised in the period commencing on the day immediately following the expiry of the time allowed as aforesaid, and,—

 (a) where the return is furnished after the expiry of the time aforesaid, ending on the date of furnishing the return; or

 (b) where no return has been furnished, ending on the date of completion of the reassessment or recomputation under section 147 or reassessment under section 153A,

on the amount by which the tax on the total income determined on the basis of such reassessment or recomputation exceeds the tax on the total income determined under sub-section (1) of section 143 or on the basis of the earlier assessment aforesaid.

Explanation.—[    ]

(4) Where as a result of an order under section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264 or an order of the Settlement Commission under sub-section (4) of section 245D, the amount of tax on which interest was payable under sub-section (1) or sub-section (3) of this section has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and—

  (i) in a case where the interest is increased, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly;

 (ii) in a case where the interest is reduced, the excess interest paid, if any, shall be refunded.

(5) The provisions of this section shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1989 and subsequent assessment years.

Extract to Sec 139 (1)

Return of income.

139. (1) Every person,—

(a)  being a company or a firm; or

(b)  being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,

shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed³⁸ form and verified in the prescribed manner and setting forth such other particulars as may be prescribed :

Provided that a person referred to in clause (b), who is not required to furnish a return under this sub-section and residing in such area as may be specified by the Board in this behalf by notification in the Official Gazette, and who during the previous year incurs an expenditure of fifty thousand rupees or more towards consumption of electricity or at any time during the previous year fulfils any one of the following conditions, namely :—

(i)  is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified by the Board in this behalf; or

(ii) is the owner or the lessee of a motor vehicle other than a two-wheeled motor vehicle, whether having any detachable side car having extra wheel attached to such two-wheeled motor vehicle or not; or

(iii) [   ]

(iv) has incurred expenditure for himself or any other person on travel to any foreign country; or

(v)  is the holder of a credit card, not being an “add-on” card, issued by any bank or institution; or

(vi) is a member of a club where entrance fee charged is twenty-five thousand rupees or more,……