CURRENT AFFAIRS

2021

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the new deadline set by the CBDT to file income tax returns for the assessment year 2021-22 by individuals?
A
August 31, 2021
B
September 30, 2021
C
July 31, 2021
D
October 30, 2021
Explanation: 

Detailed explanation-1: -The last day for filing income tax returns for FY 2021-22 is 31st July 2022 for most individual taxpayers. Filing returns beyond the deadline can attract a penalty of up to Rs. 5, 000.

Detailed explanation-2: -As per Section 139 (1) of Income Tax Act, the original deadline for ITR filing for FY 2021-22 (AY 2022-23) was July 31 2022. For those who missed the original due date, December 31 was the last date to file belated returns.

Detailed explanation-3: -The last date to file ITR for AY 2022-23 was 31 July 2022. But some people have missed it. Now they all can file belated ITRs till 31 December 2022.

Detailed explanation-4: -The Central Board of Direct Taxes (CBDT) has extended the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Income- tax Act, 1961 (the Act) for the Assessment Year 2022-23, for the category of assessees for whom the due date is 31st October, 2022, to 07th November, 2022.

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