Income Tax
Representative image.

If you are a taxpayer, you can pay your second installment of advance tax by September 15, 2021 (Wednesday).

For advance payment of tax, the Income Tax Department has an important update for the taxpayers.

“Education is the bedrock of growth of our nation. Your taxes make education accessible for all! Do remember to pay your second installment of Advance Tax by 15th September, 2021,” the Income Tax India wrote on its Twitter handle on Monday.

Recently, the Central Board of Direct Taxes(CBDT) issued tax refunds of more than Rs 70,120 crore to over 26.09 lakh taxpayers, says media report.

Also read: Time limits for filing Income Tax Returns extended further, see details here

“CBDT issues refunds of over Rs. 70,120 crore to more than 26.09 lakh taxpayers between 1st April, 2021 to 6th September, 2021. Income tax refunds of Rs. 16,753 crore have been issued in 24,70,612 cases &corporate tax refunds of Rs. 53,367 crore have been issued in 1,38,801 cases,” the Income Tax India tweeted.

The CBDT further extended the due dates for filing of Income Tax Returns (ITRs) and the Audit Reports for the Assessment Year 2021-22 in view of the difficulties faced by the taxpayers in filing of ITRs.

The CBDT further extended the due date of filing the Income Tax Return for the financial year 2021-22 (individuals and non-audit cases) till December 31, 2021.

The last date of furnishing of return of income for the financial year 2021-22 (Companies and Audit cases, excluding TP cases) is February 15, 2022.

The due date of filing of the Return of Income for the Assessment Year 2021-22 (TP Cases) is till February 28, 2022.

January 15, 2022 is the last date of furnishing of Report of Audit for the previous year 2020-21.

The due date of furnishing report from an accountant by persons entering into international transaction or specified domestic transaction for the previous Year 2020-21 has been extended till January 31, 2022.

March 31, 2022 is the due date of furnishing of belated/revised Return of Income for the assessment year 2021-22.

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