The Central Board of Direct Taxes (CBDT) through a circular dated 11 January 2022 has further extended the timelines for various compliances under the Income-Tax Act, 1961 (IT Act).
| Particulars | Due date | Revised timeline |
|---|---|---|
| Report of audit under any provision of the IT Act for the Previous Year (PY) 2020-21 | 30 September 2021/ 31 October 2021 | 15 February 2022 |
| Report from an accountant by persons entering into international transaction or specified domestic transaction under Section 92E of the IT Act for PY2020-21 | 31 October 2021 | 15 February 2022 |
| Return of income under Section 139(1) of the IT Act for Assessment Year (AY) 2021-22 | 31 October 2021/ 30 November 2021 | 15 February 2022 |
To access the text of CBDT circular, please click here
Action points for auditors
Chartered Accountants that are in the process of filing income tax returns, or performing audits under the Income Tax Act, 1961 and under transfer pricing regulations should take note of the revised timelines.