Income Tax News Update: Relief for taxpayers is reported, the Central Board of Direct Taxes (CBDT) has increased the deadline for filing Tax Deducted at Source (TDS) to 30 June. Earlier, its last date was May 31, 2021. Earlier, in view of the second wave of Corona epidemic, the Income Tax Department had extended the deadline for filing Income Tax Return (ITR) on 30 September.
Deadline also increased for the release of Form-16
According to the circular issued by the Income Tax department, besides extending the last date for filing TDS, CBDT has also increased the date of issue of Form-16 from 15 June 2021 to 15 July 2021. This is a big relief news for both individual taxpayers and this businessman. Because in the difficult conditions of Corona, it was becoming challenging for companies to settle the work of Compliance on time.
ITR filing date was extended earlier
The government had earlier given a big relief to taxpayers by extending the last date for filing Income Tax Returns. The government had extended the deadline for filing personal income tax returns for the assessment year 2020-21 by two months to 30 September 2021, earlier this deadline was 31 July 2021. Apart from this, the last date for Income Tax Audit Assessments has also been increased from 31 October 2021 to 30 November 2021.
ITR’s usually deadline
Let us tell you that for taxpayers whose accounts do not need to be audited and who file their income tax returns through ITR-1 or ITR-4, the last date for filing ITR is 31 July, but such companies or For firms whose accounts are audited, the deadline for filing ITR is 31 October.
