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If Iam not mistaken filing ITR-3 with tax audit is 15th FEB 2022 due date?
Following is the text of Circular No. 17/2021
----------------------------------------------------------

Circular No. 17/2021

F. No. 225/49/2021/ITA-II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes


New Delhi. Dated 09th September, 2021

Subject: Extension of time lines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg.

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of Income-tax returns and various reports of audit under the provisions of Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT). in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:

1. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st December, 2021;

2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, as extended to 31st October 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 15th January, 2022;

3. The due date of furnishing Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31st October 2021, as extended to 30thNovember 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st January, 2022;

4, The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November 2021 vide Circular No. 9/2021 dated 20.05.2021, is hereby further extended to 15th February, 2022;

5. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 28th February, 2022;

6. The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/subsection (5) of section 139 of the Act, as extended to 31st January, 2022, vide Circular 9/2021 dated 20.05 2021, is hereby further extended to 31st March, 2022;

Clarification 1: It is clarified that the extension of the dates as referred to in clauses (9), (12) and (13) of Circular No.9/2021 dated 20.05.2021 and as referred to in clauses (1), (4) and (5) of this Circular shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.

Clarification 2: For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under Circular No.9/2021 dated 20.05.2021 and this Circular) provided in that Act, shall be deemed to be the advance tax.

(Ravinder Maini)

Director to the Government of India.
 

brokenbull

Well-Known Member
Following is the text of Circular No. 17/2021
----------------------------------------------------------

Circular No. 17/2021

F. No. 225/49/2021/ITA-II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes


New Delhi. Dated 09th September, 2021

Subject: Extension of time lines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg.

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of Income-tax returns and various reports of audit under the provisions of Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT). in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:

1. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st December, 2021;

2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September 2021, as extended to 31st October 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 15th January, 2022;

3. The due date of furnishing Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31st October 2021, as extended to 30thNovember 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st January, 2022;

4, The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November 2021 vide Circular No. 9/2021 dated 20.05.2021, is hereby further extended to 15th February, 2022;

5. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 28th February, 2022;

6. The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December 2021 under sub-section (4)/subsection (5) of section 139 of the Act, as extended to 31st January, 2022, vide Circular 9/2021 dated 20.05 2021, is hereby further extended to 31st March, 2022;

Clarification 1: It is clarified that the extension of the dates as referred to in clauses (9), (12) and (13) of Circular No.9/2021 dated 20.05.2021 and as referred to in clauses (1), (4) and (5) of this Circular shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.

Clarification 2: For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under Circular No.9/2021 dated 20.05.2021 and this Circular) provided in that Act, shall be deemed to be the advance tax.

(Ravinder Maini)

Director to the Government of India.
Thanks .So filing ITR-3 with tax audit is 15-1-2022 ??
ITR3 filing by charted acountant & uploading Tax audit report have to be together right? .I have filed only ITR-1 till now..
 
Thanks .So filing ITR-3 with tax audit is 15-1-2022 ??
ITR3 filing by charted acountant & uploading Tax audit report have to be together right? .I have filed only ITR-1 till now..
Sorry bro
I am no tax expert.
So cant pinpoint dates.

What I posted in previous posts, is for general information only. For exact dates, one has to consult a tax expert or better to file ITR by 31.12.21
 

TracerBullet

Well-Known Member
Hello,
What is advance tax requirement for speculative income ?
Last year most of my income was from intraday equity along with smaller LTCG/STCG from equity/debt.

From what i understood, interest is not charged for advance tax shortfall as long as i pay in full before the FY ends.
Ex from https://www.indiafilings.com/learn/section-234c-of-income-tax-act/
"Interest under Section 234C is not applicable in the event of underestimation or failure in valuing the amount of capital gains or speculative income such as lottery income, gambling income, and the likes of it."

Its not possible to predict future in trading, there is no holy grail. Last year bulk of my tax liability happened in last 3 months of the year. I paid in few installments in Feb and march and paid about 5k more than my liability by March 31.

Now, ITR3 form is showing that i have to pay about 4.6% as interest in "c. Interest for deferment of advance tax(section 234C)"
Seems like another cess.
 

Raj232

Well-Known Member
Hello,
What is advance tax requirement for speculative income ?
Last year most of my income was from intraday equity along with smaller LTCG/STCG from equity/debt.

From what i understood, interest is not charged for advance tax shortfall as long as i pay in full before the FY ends.
Ex from https://www.indiafilings.com/learn/section-234c-of-income-tax-act/
"Interest under Section 234C is not applicable in the event of underestimation or failure in valuing the amount of capital gains or speculative income such as lottery income, gambling income, and the likes of it."

Its not possible to predict future in trading, there is no holy grail. Last year bulk of my tax liability happened in last 3 months of the year. I paid in few installments in Feb and march and paid about 5k more than my liability by March 31.

Now, ITR3 form is showing that i have to pay about 4.6% as interest in "c. Interest for deferment of advance tax(section 234C)"
Seems like another cess.
Lots of goof-ups in the IT website... Even on 1st Aug , those who were filing ITR1 were prompted to pay Rs 1000/- late fee (even after the announcement of last date being extended to 30-Sep)
Not sure whats going to happen when the public start filing on 31-Dec
 

TracerBullet

Well-Known Member
Lots of goof-ups in the IT website... Even on 1st Aug , those who were filing ITR1 were prompted to pay Rs 1000/- late fee (even after the announcement of last date being extended to 30-Sep)
Not sure whats going to happen when the public start filing on 31-Dec
So do you think this is a bug ?

Should 1) speculative income ( equity intraday ) + 2) STCG + 3) LTCG all paid for by march 31st still attract advance tax penalty ?
 

Raj232

Well-Known Member
So do you think this is a bug ?

Should 1) speculative income ( equity intraday ) + 2) STCG + 3) LTCG all paid for by march 31st still attract advance tax penalty ?
If the tax payable is less than 1 Lakh that need to be further paid at the time of filing, then it can be paid at the time of filing the return without any penalty .. provided it is not late filing (as per me, but I'm not a tax expert) !!
 

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