Regulatory updates

Regulatory updates

Updates from CBDT

Back

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.

Our Insights

Tools and Enablers
Resources
Events and Webinars
Sectoral Insights

Reach out to us

;