The Central Board of Direct Taxes (CBDT) today extended the due date of filing income tax returns for 2020-21 for individuals till 30 September. CBDT has also extended the ITR filing deadline for companies by a month till November 30.Further, submission of TDS statement for Q4 of FY 2020-21 is extended to 30th June 2021 and issuance of Form 16 date is also extended till July 15

CBDT said an extension of time limits is being given for certain tax compliances “to provide relief to taxpayers in view of the severe pandemic”. However, people in the know said that the taxpayers, whose entire income tax liability is not discharged by TDS and advance tax and such shortfall is more than Rs.1 lakhs, should endeavor to file their ITR within respective original due date to avoid the charge of interest u/s.234A, which is charged on filing ITR beyond original due date at the rate of 1% per month for every month/part thereof after the original due date of filing ITR. As per the existing 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.

Details of extended due dates are as under:

1Due date for filing return of income by the regular assesse for the AY 2021-2230th September 2021
2Due date for filing Return of income tax for tax audit assessees30th November 2021  
3Due date for furnishing tax audit report31st October 2021
4Due date of filing belated/revised return of income tax31st January 2022  
5Due date for Transfer Pricing Study Report30 th November 2021  
6SFT due date30th June 2021  

In preparation for the transition to the new system, the existing e-filing portal is not available to both taxpayers as well as Departmental Officers for a period of six days from June 1 to June 6, 2021. The new portal goes live on 7th June 2021”, the circular said.