What is the Due Date for Income Tax Return Filing? ITR Last Date for – FY 2020-21 or AY 2021-22

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Contents:

1. Introduction
2. Due Dates for Income Tax Return filing
3. Belated Income Tax Return filing - Missed filing Income Tax Return within the Due Date
4. Other Important Questions

Introduction

It is very important for all the taxpayers to file their Income tax return within the Due Date specified in the Income Tax Laws. 

The due date varies on the basis of taxpayers.  

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, 234B, 234C and penalty under section 234F.

Income Tax Return filing Due Dates for the FY 2020-21 (AY 2021-22)

1. Individual / HUF/ AOP/ BOI (books of accounts not required to be audited)
      Due Date - 30th Sep 2021 (extended from 31st July)
      Applicable to - All salaried persons, persons opted for presumptive taxation etc.

2. Businesses (Requiring Audit)
      Due Date - 30th Nov 2021 (extended from 31st October 2021)
      Applicable to - All companies etc.

3. Businesses (Requiring Transfer Pricing Report)
      Due Date - 31st December (extended from 30th Nov 2021)
   Applicable to - persons who have entered into international or specified Domestic transaction.

What if you missed filing the Income Tax Return within the due date?

You can also file your Income Tax Return later after the due date called a Belated Income Tax Return for the FY 2020-21 on or before 31st December 2021 (after payment of Interest and Penalty). Hence it is advisable for timely filing of Income Tax Return unless in exceptional circumstances.

Other Important Questions

How to claim my Income Tax Refund after the due date?

An income tax refund can be filed only when you file your Income Tax Return. Hence if you have missed the due date for filing ITR, you can file a belated return. However, a penalty will be charged for filing Belated Income Tax Return.

Under which section Income Tax Return is filed after the due date?

Section 139(4) allows for the filing of Belated Return i.e. Return after the due date. 

How to Revise Income Tax Returns?

In case the taxpayer wants to revise the original return due to some changes, the same can be done by filing revised return u/s 139(5). A revised return for the FY 2020-21 can be filed till 31st March 2022.

Comments

Unknown said…
Great information! Keep going.. :)
6 September 2021 at 23:44
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