There is news of relief for all people who were late in ITR Filing and missed the deadline of December 31, 2021. The government has extended the date for filing Income Tax Return for corporate. If you are a corporate taxpayer you can file your income tax returns till March 15, 2022.
Central Board Of Direct Taxes has also extended the date for submission of audit reports and ‘Transfer Pricing Audit’ till February 15, 2022. Companies have got great leverage this time as it is the third time when deadline for filing income tax return has been extended for year 2020-21. Earlier the deadline of ITR filing for companies was October 31, 2022. The last date for submission of transfer pricing reports was November 30, 2022.
Income Tax Department in a tweet said, “On consideration of difficulties reported by taxpayers/stakeholders due to Covid & in e-filing of Audit reports for AY 2021-22 under the IT Act, 1961, CBDT further extends due dates for filing of Audit reports & ITRs for AY 21-22. Circular No. 01/2022 dated 11.01.2022 issued.”
However, people should note that ITR filing deadline has not been extended for ordinary tax payers and it’s only for corporate.