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Income Tax Return Filing Due Dates for FY 2020-21 (Last Date)

  • What is the Income Tax?
There are two types of tax levy one is a direct tax and the second one is an indirect tax. Income tax is a direct tax that is directly attributable to the income of the assessee. Income which is generated from the various head of income viz.Salary, House Property, Business, Capital Gain and Income from other sources. The assessee has to pay Income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit.
  • Filing Income Tax Return Due Dates for FY 2020-21 (AY 2021-22)
There is a different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit case of such categories as defined in section 139(1)
    1. Last Date of Income Tax Return Filing for AY 2021-22 (Non-Audit Cases)
      2. The common due date of filing the Income Tax Return by Assesse whose Books of Account are not required to be audited is 31st July 2021. The revised due date is 30th September 2021, read circular.
    2. Filing Income Tax Return Due Date for AY 2021-22 (Audit Cases)
      3. The general due date for filing the Income Tax Return for the audit cases is 31st October 2021. The CBDT has extended the due date till 30th November 2021.
    3. Last Date of Income Tax Return Filing for AY 2021-22 (Assessee who are required to furnish report under sec 92E)
      4. The due date of filing the Income Tax Return by Assesse who are required to furnish a report under sec 92E is 30th November 2021. The govt has extended the last date till 31st December 2021.
  • Due Dates for Tax Audit Report (3CA-3CD/3CB-3CD)
The due date for filing of Tax Audit Report for all categories of assessees whose account are required to be audited extended up to 30th September 2021. The revised last date is 31st October 2021.
  • Revised & Belated ITR Due Dates for AY 2021-22
The due date for filing a revised and belated income tax return for AY 2021-22 has revised by CBDT till 31st January 2022
  • File Tax Returns for A.Y. 2021-22 before 31st March with INR 10,000 Penalty
The income tax department notified the taxpayers for late filing of tax returns for A.Y. 2021-22, along with a penalty of INR 5000 (on filing the return after the due date but on or before 31st December) and INR 10000 (on the filing of return after 31st December to 31st March). The taxpayer has to file the late filing of tax returns for A.Y. 2021-22 before 31st March anyhow. Also to note that the penalty is applicable even if the taxpayer files the returns before 31st March while there is no option to file the returns after 31st March 2022. However, if the taxpayer’s total income does not exceed Rs 5 lakh, then the maximum penalty levied for delay will not exceed Rs 1000. Note: From AY 2021-22, the last date of filing belated and revised return has been amended to 31st December instead of 31st March but there is still no amendment under section 234F.
  • Advance Income Taxes Filing Due Dates FY 2020-21
If the tax liability is more than Rs 10,000 in a financial year then advance tax needs to be paid by the assessee. 15th June (15%) | 15th Sept. (45%) | 15th Dec. (75%) | 15th March (100%) The assessee who are covered under section 44AD and 44ADA (i.e. Presumptive Income), are also required to pay the advance tax on or before the 15th march of the previous year. However, any tax paid till 31st March will be treated as Advance Tax.
GST Return
Tax Audit Under Section 44AB of Income Tax Act, 1961

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