New Delhi: The union government has announced its decision on on income tax returns filing deadline. The government has extended the deadline for filing the income tax returns for 2020-21 for individuals.
The deadline has been extended by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. The deadline for issuing Form 16 by employers to employees has been extended by a month till July 15.
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The due date for filing the tax audit report and transfer pricing certificate has been extended by a month till October 31 and November 30, respectively. For filing belated or revised return of income, the due date is now January 31, 2022. The deadline for financial institutions to furnish the Statement of Financial Transaction (SFT) report has been extended till June 30, from May 31, 2021.
As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
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