Maximize tax savings
up to ₹46,800 easily
• Invest in direct ELSS funds
• 0% commission
Thank you for your response
Our representative will get in touch with you shortly.
Thank you for your response
The due date for filing income tax returns is the date by which the returns can be filed without any late fee or penalty. The taxpayers filing their return beyond such due date will have to pay interest under section 234A and penalty under section 234F.
CBDT has issued a circular on 9th Sep 21 extending the timelines for certain direct tax compliances for AY 2021-22.
1. ITR Filing due date extension:
i) ITR filing by taxpayers not covered under audit is extended from 30th Sep 21 to 31st Dec 21
ii) ITR filing for Tax audit cases is extended to 15th Feb 22
iii) ITR filing for transfer Pricing is extended to 28th feb 22
iv) ITR filing of Belated or Revised Return for FY 20-21 is extended from 31st Dec 21 to 31st March 22
2. Furnishing Audit Report:
i) Due date to furnish the audit report is extended to 15th Jan 22
ii) Due date to furnish the audit report for transfer pricing cases is extended to 31st Jan 22
It is important for all taxpayers to remember the due date of filing income tax returns. The due date varies on the basis of taxpayers. For instance, salaried individuals are usually required to file their income tax returns by the 31st of July whereas Corporates covered under audit can file their returns by 31st September of the assessment year.
|Category of Taxpayer||Due Date for Tax Filing – |
|Individual / HUF/ AOP/ BOI |
(books of accounts not required to be audited)
|31st December 2021|
(extended from 31st July)
|Businesses (Requiring Audit)||15th February 2022 |
(extended from 31st October 2021)
|Businesses (Requiring TP Report)||28th Feb 2022 |
(extended from 30th Nov 2021)
Not sure whether you should file an income tax return? Read our article. You can use ClearTax to e-File your IT Return right away.
Whenever we talk about income tax, there is various kind of compulsory tax formalities that need to be followed by a person and that too within the specified due dates prescribed, such as filing of income tax returns, paying advance tax on time.
Here is the TAX CALENDAR for the FY 2020-21 (AY 2021-22):
|Due Date||Tax Due|
|15th June 2021||Due date for the first instalment of advance tax for the FY 2021-22|
|15th September 2021||Due date for the second instalment of advance tax for the FY 2021-22|
|15th December 2020||Due date for the third instalment of advance tax for the FY 2021-22|
|31st December 2021||Income tax return filing for FY 2020-21 for individuals and entities not liable for tax audit and who have not entered into any international or specified domestic transaction|
|15th January 2022||Submission of audit report (Section 44AB) for AY 2021-22 for taxpayers liable for audit under the Income Tax Act.|
|15th February 2022||ITR filing for taxpayers requiring audit (not having international or specified domestic transactions).|
|28th February 2022||ITR filing for TP cases (for taxpayer having international and specified domestic transaction).|
|15th March 2021||i. The fourth instalment of advance tax due for the FY 2021-22 |
ii. Last date for filing a belated return or revised return for FY 2020-21.
ii. The due date for the whole amount of advance tax for FY 2020-21 for taxpayers covered under the presumptive scheme of Section 44AD and 44ADA
Read about how to calculate and pay Advance Tax.
If the due date for filing the original return of income is missed, one can file a return later after the due date, called a belated return. The due date of filing the belated return is also specified by the income tax department. This date is now reduced by 3 months to 31st December of the assessment year as against the previous due date of the end of the assessment year.
Hence the due date for filing the belated return for FY 2020-21 will be 31st December 2021. However, the CBDT has specifically extended the due date of revised or belated return for FY 2020-21 to 31st March 2022.
An income tax return can be filed only when you file ITR. Hence if you have skipped the due date for filing ITR, you can file a belated return. A belated return can be filed either before the completion of the assessment year or by the end of the relevant assessment year, whichever is earlier. For instance, for the assessment year 2021– 22, you can file a belated return before 31st December 2021 (FY 21 due date specifically extended to 31st March 2022). However, a penalty will be charged for a belated return of Rs 10,000.
If you have skipped the due date for filing ITR, you can file a belated return. A belated return can be filed either before the completion of the assessment year or before the assessment is made, whichever is earlier.
For instance, for the assessment year 2021– 22, you can file a belated return before 31st December 2021 (FY 21 due date specifically extended to 31st March 2022 ). However, a penalty will be charged for a belated return of Rs 10,000.
If you have missed filing your return within the due date and payment of taxes, you can do so by filing belated ITR and paying the taxes to the government. Please note that the belated return can be filed latest before the completion of the AY. However, a penalty will be charged for a belated return of Rs 10,000.
Section 139(4) allows for the filing of belated return i.e return after the due date. However, the taxpayer will be charged a penalty of Rs 10,000 for the delay in filing of return.
Usually the due date to file income tax return is 31st July for individuals and non audit cases and 31st October for audit cases of the relevant assessment year. However the income tax return due dates for FY 20-21 was specifically extended by CBDT to 31st December 2021 (extended from 31st July 2021) for individuals and non audit cases and audit cases is 15th February 2022 (extended from 31st October 2021).
In case the taxpayer wants to revise the original return due to some amendments , the same can be done using revised return u/s 139 (5). A revised return can be filed either before the completion of the assessment year or before the assessment is made , whichever is earlier.
In case the taxpayer wants to revise the original return due to some amendments , the same can be done using revised return u/s 139 (5). A revised return can be filed either before the completion of the assessment year or before the assessment is made , whichever is earlier. Taxpayers cannot file any return once this date is passed, however if the return was missed out due to an extreme situation , you can lodge a request to your AO seeking permission to file past returns u/s 119.
In case of failure of filing of income tax return within the due date, a belated return can be filed. However a penalty will be charged for the filing of belated returns. Hence it is advisable for timely filing of income tax returns unless in exceptional circumstances
The last date to file ITR for individuals is 31st July of the relevant assessment year and 31st October for taxpayers whose accounts are subject to audit.
This date has been extended for FY 2020-21 to 31st December 2021 and 15th February 2022 respectively due to pandemic. You can easily e-file your income tax return with Cleartax for free under just 7 minutes
The last day for filing Income tax returns for FY 2020-21 is 31st December 2021 for most of the individual taxpayers. Last date for income tax return filing for taxpayers whose accounts needs to be audited is 15th February 2022. These dates were extended due to the ongoing pandemic situation. Filing of return beyond the deadline can attract a penalty up to Rs 10, 000.
As the deadline is approaching very soon, it is never a good idea to wait for the return filing deadline. Filing your income tax return has been made easier with ClearTax free e-filing website