Covid-19 Update for India: Extension of due dates for certain compliances due to the severe pandemic
The Ministry of Finance in India has issued Circular No.9 of 2021 for the extension of time limits of certain compliance matters to provide relief to taxpayers in view of the severe pandemic.
Nucleus recommends that pending taxes be paid before the original due dates to avoid any interest payments.
| Compliance | Original Due Date | Extended Due Date |
| Statement of Financial Transactions (SFT) (Form 61A) for the Financial Year (FY) 2020-21 | May 31, 2021 | June 30, 2021 |
| Statement of Reportable Account (Form 61B) for the calendar year 2020 | May 31, 2021 | June 30, 2021 |
| Statement of Deduction of Tax (Form 24Q/Form 26Q) for the last quarter of FY 2020-21 (i.e. Q4 – January – March 2021) | May 31, 2021 | June 30, 2021 |
| Certificate of Tax Deducted at Source to the employees (Form 16) for the Financial Year (FY) 2020-21 | June 15, 2021 | July 15, 2021 |
| Income Tax Return (in case where Tax Audit is not applicable) for the Assessment Year 2021-22, including individual returns * | July 31, 2021 | September 30, 2021 |
| Tax Audit Report (Form 3CA and Form 3CD) for the Assessment Year 2021-22 | September 30, 2021 | October 31, 2021 |
| Transfer pricing Report (Form 3CEB) for the Assessment Year 2021-22 | October 31, 2021 | November 30, 2021 |
| Income Tax Return (in case where Tax Audit report is applicable) for the Assessment Year 2021-22* | October 31, 2021 | November 30, 2021 |
| Income Tax Return (in case where Transfer Pricing report is applicable ) for the Assessment Year 2021-22* | November 30, 2021 | December 31, 2021 |
| Belated or Revised Income Tax Returns for Assessment Year 2021-22 | December 31, 2021 | January 31, 2022 |
*Note that, for taxpayers, whose entire income tax liability is not discharged by Tax Deducted at Source (TDS) and advance tax and such shortfall is more than INR 100,000, they should file their income tax return within the respective original due dates to avoid interest for defaults in furnishing return of income (i.e. Section 234A of Income Tax Act 1961).