The Central Board of Direct Taxes (CBDT) has issued Circular No. 01/2022 dated 11th January, 2022 for the extension of the timeline for filing ITR and Various reports of audit for the AY 2021-22. By this Circular the Tax Audit date has been extended to 15th February, 2022 and due date of filing Tax Returns extended to 15th March, 2022. For ready reference of our readers the text of the Circular with analysis is given below:
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect of various compliances..
1. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 30th September 2021, in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, as extended to 31st October 2021 and 15th January 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th February, 2022.
The said extension will be applicable for a company; or a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; or a partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force or the spouse of such partner if the provisions of section 5A applies to such spouse, provided these are not required to furnish a report referred to in section 92E (International / specified domestic transactions).
2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 31st October, 2021, in the case of assessees referred in clause (aa) of Explanation 2 to sub-section (1) of section 139 of the Act, is hereby extended to 15th February, 2022.
This extension will be applicable to persons required furnish a report referred to in section 92E (International / specified domestic transactions).
3. The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which was 31st October 2021, as extended to 30th November 2021 and 31st January 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th February, 2022.
4. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st October 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November 2021 and 15th February 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th March, 2022.
This extension will be applicable for persons as stated at Sl. No 1 above and thus is not applicable for individuals whose accounts are not required to be audited under any law.
5. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 30th November 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December 2021 and 28th February 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th March, 2022.
This extension will apply to assessees, including the partners of the firm or the spouse of such partner (if the provisions of section 5A applies to such spouse), being such assessee,who is required to furnish a report referred to in section 92E.
The Board has clarified that this extension shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds Rs.1 Lakh. This means that where self-assessment tax payable exceeds Rs 1 lakhs no relief in interest u/s 234A will be granted due to the above extension.
Further, it has been clarified that in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under Circular No.9/2021, Circular No.17/2021 and this Circular) provided in that Act, shall be deemed to be the advance tax. In other words in case of an senior citizen (not having income from business/profession) , the self-assessment tax paid by him within the original due date (without any extension) shall be deemed to be the advance tax.
The above Circular has been summarised as under:
| Persons covered u/s | Type of Assessee | Extended date of filing Tax Audit Report (incl. report u/s Sec 92E) | Extended date of filing IT Return |
| Clause (a) of Expl. 2 of Section 139(1) of the IT Act, 1961 | Following Persons who are not required to furnish audit report referred to in section 92E (Transfer Pricing) i) a company; or ii) a person (other than a company) whose accounts are required to be audited under IT Act / any other law; or iii) a partner of a firm whose accounts are required to be audited under IT Act / any other law | 15th February, 2022 | 15th March, 2022 |
| Clause (aa) of Expl. 2 of Section 139(1) | Persons required to furnish audit report referred to in section 92E | 15th February, 2022 | 15th March, 2022 |
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