THE DEADLINE FOR FILING TAX RETURNS HAS BEEN EXTENDED. 15TH OF MARCH

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According to a notification published by the finance ministry's department of revenue, the deadline for filing income tax returns has been extended to March 15.

Returns were to be submitted by December 31, 2021.

The extension of the return filing date was also announced on Twitter by the Internal Revenue Service.

The deadline has been extended due to difficulties faced by taxpayers as a result of the current Coronavirus situation, according to the announcement, as well as issues encountered while e-filing various audit reports under the requirements of the Income Tax Act 1961.

"The due date for furnishing Return of Income for the Assessment Year 2021-22, which was 30th November 2021 under sub-section (1) of section 139 of the Act, has been extended to 31st December 2021 and 28th February 2022... is further extended to 15th March 2022," the finance ministry said in a notification.

Apart from Income Tax Returns, the Central Board of Direct Taxes of the Ministry of Finance has extended the deadline for filing various audit reports. The deadline has been pushed back to February 15, 2022.

Surprisingly, the deadline extension comes after Revenue Secretary Tarun Bajaj stated on December 31, 2021 that no additional extensions to the income tax return filing date were planned.

The government had already extended the deadline for filing returns from July 31, 2021 to December 31, 2021.

Despite the fact that millions of returns have been filed, taxpayers have experienced technical difficulties as a result of the IRS's new e-filing platform, which prompted Finance Minister Nirmala Sitharaman to intervene and raise the issue with the site's vendor, Infosys.

Furthermore, the government has extended the deadline for submitting numerous audit reports. It is now possible to file these until February 15, 2022.

 

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