The due date for filing income tax returns is the date by which the returns can be filed without any late fee or penalty. Taxpayers filing their return beyond such due date will have to pay interest under Section 234A and penalty under Section 234F.
Latest Updates
Latest Update:
CBDT has issued a circular on 9th Sept extending the timelines for certain direct tax compliances for AY 2021-22.
1. ITR filing due date extension:
i) ITR filing by taxpayers not covered under audit is extended from 30th Sep 21 to 31st Dec 21
ii) ITR filing for tax audit cases is extended to 15th Feb 22
iii) ITR filing for transfer pricing is extended to 28th Feb 22
iv) ITR filing of belated or revised return for FY 20-21 is extended from 31st Dec 21 to 31st March 22
2. Furnishing audit report:
i) Due date to furnish the audit report is extended to 15th Jan 22
ii) Due date to furnish the audit report for transfer pricing cases is extended to 31st Jan 22 tax returns. The due date varies on the basis of taxpayers. For instance, salaried individuals are usually required to file their income tax returns by the 31st of July whereas corporates covered under audit can file their returns by 31st September of the assessment year (unless extended by the government).
| Category of Taxpayer | Due Date for Tax Filing – FY 2020-21 |
| Individual / HUF/ AOP/ BOI (books of accounts not required to be audited) | 31st December 2021 (extended from 31st July) |
| Businesses (Requiring Audit) | 15th February 2022 (extended from 31st October 2021) |
| Businesses (Requiring TP Report) | 28th Feb 2022 (extended from 30th Nov 2021) |
Whenever we talk about Income Tax, there are certain compulsory tax formalities that need to be followed within the specified due dates, such as filing of income tax returns, paying advance tax on time, etc.
Here is the TAX CALENDAR for the FY 2020-21 (AY 2021-22):
| Due Date | Tax Due |
| 15th June 2021 | Due date for the first instalment of advance tax for the FY 2021-22 |
| 15th September 2021 | Due date for the second instalment of advance tax for the FY 2021-22 |
| 15th December 2020 | Due date for the third instalment of advance tax for the FY 2021-22 |
| 31st December 2021 | Income tax return filing for FY 2020-21 for individuals and entities not liable for tax audit and who have not entered into any international or specified domestic transaction |
| 15th January 2022 | Submission of audit report (Section 44AB) for AY 2021-22 for taxpayers liable for audit under the Income Tax Act. |
| 31st January 2022 | Submission of audit report for AY 2021-22 for taxpayers having transfer pricing and specified domestic transactions |
| 15th February 2022 | ITR filing for taxpayers requiring audit (not having international or specified domestic transactions). |
| 28th February 2022 | ITR filing for TP cases (for taxpayers having international and specified domestic transactions). |
| 15th March 2022 | i.The fourth instalment of advance tax due for the FY 2021-22 ii. The due date for the whole amount of advance tax for FY 2020-21 for taxpayers covered under the presumptive scheme of Section 44AD and 44ADA |
| 31st March 2022 | Last date for filing a belated return or revised return for FY 2020-21. |
If the due date for filing the original return of income is missed, one can file a return later after the due date, called a belated return. The income tax department also specifies the due date of filing the belated return. This date is now reduced by three months to 31st December of the assessment year (unless extended by the government).
However, the CBDT has extended the due date for filing the revised or belated return for FY 2020-21 from 31st December 2021 to 31st March 2022.