Daily Tip: File your Income Tax Returns before 31 December 2021

Income tax returns

Have you filed your Income Tax Returns yet? 

The due date to file your Return of Income for the Assessment Year 2021-22 is 31 December 2021. The date was extended in September 2021 by the Central Board of Direct Taxes (CBDT) due to pandemic-related difficulties taxpayers were facing in filing their Returns and the fixes being made to the new Income Tax e-Filing portal.

These are the types of taxpayers who need to file by this deadline:

  1. Corporate assesses
  2. Non-corporate assessees (whose books need to be audited)
  3. Partner of a firm whose accounts must be audited or the spouse of such partner if Section 5A applies
  4. Assessees who are required to furnish a report under Section 92E

Remember to file your ITRs on time to maintain your creditworthiness with lenders.

Learn more about the due date here.

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