{"id":2932,"date":"2020-08-19T19:38:03","date_gmt":"2020-08-19T14:08:03","guid":{"rendered":"http:\/\/cacube.in\/?p=2932"},"modified":"2023-01-24T22:25:08","modified_gmt":"2023-01-24T16:55:08","slug":"income-tax-due-dates-for-fy-2020-21-ay-2021-22","status":"publish","type":"post","link":"https:\/\/cacube.in\/?p=2932","title":{"rendered":"Income tax due dates for FY 2020-21 (AY 2021-22)"},"content":{"rendered":"\n
Category<\/th> | Sub-Category<\/th> | Original Due date<\/th> | Extended due date<\/strong><\/td><\/tr>Individual & HUF<\/td> | whose accounts are required to be audited u\/s 44AB (ITR-3)<\/td> | 31-10-2021 (Audit report is to be filed upto 30-09-2021)<\/strong><\/td> | 15-03-2022 (Audit report is to be filed upto 15-02-2022)<\/strong><\/td><\/tr> | <\/td> | A working partner where the firm in which he is a working partner has to get its accounts audited u\/s 44AB. (ITR-2)<\/td> | 31-10-2021<\/strong><\/strong><\/td> | 15-02-2022<\/strong><\/td><\/tr> | <\/td> | who is required to furnish report u\/s 92E<\/td> | 30-11-2021<\/strong> (report of 92E to be filed upto 31-10-2021)<\/strong><\/td> | 28-02-2022<\/strong> (report of 92E to be filed upto 31-01-2022)<\/strong><\/td><\/tr> | <\/td> | Other Individuals or HUF (ITR-1 or ITR-2 or ITR-4-Sugam)<\/td> | 31-07-2021<\/strong><\/td> | 31-12-2021<\/strong><\/td><\/tr> | Firms, LLP, AOP, BOI, AJP, HUF, Co-op. Society , Local authority<\/td> | If required to get its accounts audited under income tax law or any other law (ITR-5)<\/td> | 31-10-2021 (Audit report is to be filed upto 30-09-2021)<\/strong><\/strong><\/td> | 15-03-2022 (Audit report is to be filed upto 15-02-2022)<\/strong><\/strong><\/strong><\/td><\/tr> | <\/td> | If not required to get its accounts audited (ITR-5)<\/td> | 31-07-2021<\/strong><\/strong><\/td> | 31-12-2021<\/strong><\/td><\/tr> | Company<\/td> | Any Corporate Assessee (ITR-6)<\/td> | 31-10-2021 (Audit report is to be filed upto 30-09-2021)<\/strong><\/strong><\/strong><\/td> | 15-03-2022 (Audit report is to be filed upto 15-02-2022)<\/strong><\/strong><\/strong><\/td><\/tr> | Trust, Colleges, political parties<\/td> | Trust, Political parties and colleges etc who are required to file return u\/s 139(4A), 139(4B), 139(4C) or 139(4D) (ITR-7)<\/td> | 31-10-2021 (Audit report is to be filed upto 30-09-2021)<\/strong><\/strong><\/strong><\/td> | 15-03-2022 (Audit report is to be filed upto 15-02-2022)<\/strong><\/strong><\/strong><\/td><\/tr> | <\/td> | If not required to get its accounts audited<\/td> | 31-07-2021<\/strong><\/strong><\/strong><\/td> | 31-12-2021<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n | Note: (1) As per section 139(4) any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment,<\/strong> whichever is earlier. This is called belated return.<\/strong><\/p>\n\n\n\n (2) As per section 139(5) (as amended by Finance Act 2017) return filed as above can be revised up to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. After amendment by the Finance Act\u20192016, the belated return<\/strong> can also be revised.<\/p>\n\n\n\n (3) W.e.f Financial year 2017-18, penalty u\/s 234F<\/strong> is introduced for delay in filing the return. If assessee failed to furnish return of income within due date as prescribed in section 139(1) then he is required to pay penalty as follows:-<\/p>\n\n\n\n (However, if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000 and no penalty shall be levied if total income does not exceed minimum income not chargeable to tax.) <\/p>\n\n\n\n <\/p>\n\n\n\n Note-<\/p>\n\n\n\n (1) Only If your total tax liability is Rs 10,000 or more in a financial year then you have to pay advance tax.<\/p>\n\n\n\n (2) Taxpayers who opt for presumptive scheme are exempt from advance tax for FY2017-18.<\/p>\n\n\n\n (3) Upto FY 2015-16, there were separate percentage of advance tax payable for individual (nil, 30%, 60% & 100% due on same dates ) and separate percentage of advance tax for corporates (15%, 45%, 75% & 100% due on same dates) But by Budget 2016 (W.e.f FY 2016-17) common percentage of advance tax payable is made applicable for all assessees except the assesee who declares his income in accordance with section 44AD & 44ADA.<\/p>\n\n\n\n (4) Any payment of tax made on or before 31st march of same FY, shall also be treated as advance tax. <\/p>\n\n\n\n Note: Time limit for depositing TDS deducted on the purchase of immovable property u\/s 194IA is within 30th day from the end of the month in which payment of consideration is made.<\/p>\n\n\n\n To keep a watch on high value transactions undertaken by the taxpayer, the Income tax Law has framed the concept of “statement of financial transaction or reportable account”(previously called as \u2018Annual Information Return (AIR)\u2019). This statement is required to file by specified persons in form 61A & 61B upto 31st May of next Financial year<\/strong>. For FY 2020-21, this was required to filed upto 31st May 2021, but this is extended to 30th June 2021<\/strong>.<\/p>\n\n\n\n As per section 139(4):-<\/p>\n\n\n\n As per section 139(5):-<\/p>\n\n\n\n Upto Financial Year 2016-17<\/p>\n\n\n\n W.e.f Financial year 2017-18,<\/p>\n\n\n\n Penalty u\/s 234F<\/strong> is introduced for delay in filing the return. If assessee failed to furnish return of income within due date as prescribed in section 139(1) then he is required to pay penalty as follows:-<\/p>\n\n\n\n |
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