The deadline for TDS filing: In view of the current situation caused by the second wave of Coronavirus, the Income Tax Department has extended the last date of filing of tax deduction at source (TDS Filing Deadline) from 31 May 2021 to 30 June 2021. Earlier, the Central Board of Direct Taxes (CBDT) extended the last date for filing Income Tax Return (ITR) to 30 September 2021. According to the circular of the department, along with extending the last date for filing TDS till 30 June, CBDT has also extended the period of issue of Form-16 from 15 June to 15 July 2021. 

“In such a COVID-19 pandemic situation, it is a big relief for individual taxpayers and businesses. It was becoming difficult for taxpayers to comply with such deadlines due to multiple issues like non-availability of funds for small businesses, family health issues, movement from one place to another etc., making compliance difficult for businesses. Hence, It will give them more time to comply with the deadlines and avoid any penalties, late fees etc,” said Abhishek Soni, co-founder and chief executive officer, Tax2win.

Income Tax Department would give business houses extra time to meet tax deadlines. Now they will be able to avoid the penalty due to delay. At the same time, Sujit Bangar, founder of Taxbuddy.com, said that a lot of records and data have to be introduced in TDS. In such a situation, there will be relief from the increase in duration. read this also- Good news for government employees! Center doubles variable dearness allowance, PF-gratuity will also increaseThe central government has extended all these deadlines too.

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Mean-while, the central government had earlier extended the deadline for filing personal income tax returns for the assessment year 2020-2021 by two months to 30 September 2021, giving relief to taxpayers. Earlier this deadline was 31 July 2021. 

Now taxpayers have time till September 30 for furnishing return of income for the Assessment Year 2021-22. Audit Assessees can file income tax returns by November 30. Due date of furnishing Tax Audit Report extended to October 31. Individuals can file belated/revised return of income till January 31, 2022.