Income Tax Return Filing Due Date 2021- Last Date Extended

Income Tax Return Filing 2021 Last Date Extended

CBDT further extends the income tax return filing due date for FY 2020-21 from 30th September 2021 to 31st Dec 2021 for individuals whose accounts do not require an audit. This time due to the difficulties faced by the taxpayers in the electronic filing of income tax returns on the new portal.

Earlier, CBDT had extended the Income Tax Return filing date for individuals whose accounts do not require an audit to 30th September 2021 from the original due date, 31st July 2021 due to the COVID-19 pandemic.

As per the CBDT Notification on 9th September, the last date for filing income tax return for AY 2021-22 is extended for Salaried employees and Pensioners from the original 31st July 2021 to 31st December 2021.

Also, the income tax return due date for FY 2020-21 for companies which was extended from 31st October 2021 to 30the November 2021 is further extended to 15th February 2022.

Almost all the categories of taxpayers have been given extensions in the income tax return filing due date.

Let’s get into the details.

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Income Tax Slab for AY 2021-22 | All That You Need to Know

Income Tax Slab for Ay 2021-22

The income tax slab for AY 2021-22 below applies to individuals (resident or non-resident), HUF, Association of Person or Body of Individual, companies, partnership firms and companies. The income tax rate depends on the income slab that your income falls under and whether you opt for New or Old tax regime .

We have provided the tax slabs under the existing tax regime and the new tax regime to help you choose the suitable tax regime. Also, you may use the income tax calculator to find out your total tax liability.

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Section 80TTA | How to Claim Deduction on Interest

Claim 80TTA Deduction for AY 2020-21

Section 80TTA provides a deduction of Rs 10,000 on interest earned on the Savings account. However, only individuals and HUFs can claim deduction under this section.

So, Senior citizens can claim deduction under section 80TTB, with has a higher deduction limit of Rs 50,000. Furthermore, you cannot claim an 80TTA deduction for interest earned on time deposits such as fixed deposits or recurring deposits.

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Link PAN to Aadhar Easily

Link PAN to Aadhar

Link PAN to Aadhar by 30th September 2021 to continue your financial transactions. In other words, you will be able to buy or withdraw money only if you link PAN to Aadhar before the deadline.

Linking PAN with Aadhaar is a simple process. Yet, if you need help, check out How to link aadhaar with PAN card online step by step given below.

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PAN Card- Apply, Track, Download, Link with Aadhaar

PAN Card- Apply, Track, Download, Link with Aadhaar

PAN Card is a valid identity proof that is necessary for all financial transactions. Moreover, it is mandatory if you desire to file your income tax return. You can apply for PAN card either online or offline.  This article will see in detail the step by step procedure to apply for PAN Card online through NSDL and UTIITSL.

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Form 16| How to download and fill form 16?

What is form 16 | How to get & file Income tax return

Form 16 is a certificate of tax deduction at source. In simple words, it is proof of the tax deducted from your salary by your employer. As a taxpayer, you need form16 to file your income tax return for the financial year.

Also, it is mandatory for the employer to issue Form 16 under section 203 of the Income Tax Act, 1961. In this article, we will see what is Form 16, Eligibility salary, and how to get Form16 online.

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ITR V Verification | CBDT One Time Relaxation

itr-v-verification-cbdt-one-time-relaxation

CBDT provides one-time relaxation for electronically filed ITR V verification. It is applicable for the IT Returns filed for Assessment Yrs 2015-16 to 2019-20, which are pending due to non-filing of ITR-V form & processing of such returns. CBDT issues Circular No.13/2020 on 13th July 2020 in this regard.

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