Due date for filing income tax returns extended to March 15, 2022 for individuals whose accounts are to be audited
- The income tax department has extended the deadline for both filing
income tax returnsas well as tax audit reports.
- This was followed by several requests to delay the deadline because of difficulties faced by the taxpayers due to the prevailing Coronavirus situation.
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Under the Income Tax Act, taxpayers are required to get their books of accounts audited if the sales, turnover or gross receipts of business exceed ₹10 crore, while in the case of professionals, the limit is over ₹50 lakh.
The deadline to file tax audit reports has been extended to February 15, 2022 from January 15, 2022.
This came after industry bodies, including the Institute of Chartered Accountants of India, and individuals made a request to extend the deadline.
The income tax department tweeted about the extension.
The notification by the income tax department said that the deadline was extended considering difficulties faced by taxpayers due to COVID-19 in filing tax returns and electronic filing of various audit reports.
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. pic.twitter.com/2Ggata8Bq3— Income Tax India (@IncomeTaxIndia) January 11, 2022
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