Last Date For Filing ITR Of Units With Audit Requirements Is 15 Feb

Last date for filing returns of units with audit requirements will not extend beyond February 15: Finance Ministry.

The Finance Ministry has refused to extend the deadline for filing returns of units with audit requirements beyond February 15.

Explain that the government had last month extended the last date for filing a personal income tax return to 10 January.

The last date for the convenience of companies was fixed as 15 February. In this regard, information was given through tweet.

31 December 2020 was the last date for filing personal income tax returns, but the Income Tax Department had increased it from 31 December 2020 to 10 January 2021.

At the same time, the date of return of audit cases, which was earlier 31 January, was increased to 15 February. This is the third time the Income Tax Department has extended the date.

“All representations have been rejected for further extension of the due date,” the Central Board of Direct Taxes (CBDT) said in an order late Monday.

The order came in the wake of a decision of the Gujarat High Court on 8 January on a petition by the All India Gujarat Federation of Tax Consultants.

In which the Court directed the Finance Ministry to look into the issue of extension of due dates for filing audit report under Section 44AB of the Income Tax Act.

The CBDT argued in its order that the date has been extended thrice for all categories of taxpayers, with the last date declared on 30 December.

It states that most audit reports and income tax returns are filed only within the last days of the dates.

It said that for 2019-20 it has been observed that 24 percent of the total audit report was recorded in the last three days before the due date.

The order cited the US and UK and stated that the due dates for filing returns by individuals and corporates in the US were 15 April, which was extended to 15 October.

While Britain did not provide any extension at the same time, India has extended the dates thrice for taxpayers of all categories.