ITR Filing 2021: The Indian government on Tuesday extended the deadline for submitting Income Tax Returns for the years 2021-2022 to March 15, 2022. Citizens and Chartered Accountants from across India had complained about the ITR portal’s poor performance in late December last year, prompting the Tax Department to extend the deadline for filing ITRs.
While the deadline for filing income tax returns has been pushed out to March 15, 2022, the deadline for filing different audit reports has been pushed back to February 15, 2022. The deadline for producing a Report from an Accountant by people engaging in international or defined domestic transactions has also been extended to February 15, 2022, according to an official release.
“The Central Board of Direct Taxes (CBDT) has decided to extend the deadlines for filing Income Tax Returns and various reports of audit for the Assessment Year 2021-22,” the Central Board of Direct Taxes said in an official statement, citing difficulties reported by taxpayers and other stakeholders due to COVID and electronic filing of various reports of audit under the provisions of the Income-tax Act, 1961. (the Act).
The government chose to extend these deadlines “in light of issues identified by taxpayers and other stakeholders as a result of COVID and electronic filing of different audit reports,” according to the government.
Documents required for ITR filing 2021
1. Interest income certificates/papers: An interest income certificate details the amount of interest received over the course of a financial year. This might be for a straightforward savings account or a series of fixed deposits (FDs). Interest income certificates can be downloaded via the bank’s net banking interface at the conclusion of the financial year.
2. Evidence of tax-saving investments: Such as receipts for paid insurance premiums, medical insurance, PPF (Public Provident Fund), mutual fund investments (ELSS), and so on. After submitting the form, the tax deductions can be claimed.
3. Form 16: The most crucial document for ITR filers in the service sector, form 16 is given by an employer to acknowledge that tax has been deducted from the salary. If the individual’s wage does not fall into the tax bracket, he or she can file a tax return.
4. Form 26AS: This form may be obtained directly from the new IRS website. It’s an annual consolidated statement that includes tax-related information like TDS and advances tax.
5. PAN Card, Aadhaar Card, and Salary Slips: When submitting income tax returns, PAN Card and Aadhaar Card are necessary to prove one’s identification on the Income Tax Portal.
How to file ITR 2021-22?
To make things easier for taxpayers, the government created an e-filing facility where they may submit their ITRs online. If you haven’t filed your ITR yet, here’s a step-by-step tutorial to help you do so.
Step 1: Go to the e-Portal for Income Taxes.
Step 2: On the website’s homepage, look for the ‘login here’ option and click it.
Step 3: In the ‘input your user ID’ box, enter your permanent account number (PAN) — then click proceed.
Step 4: The taxpayers must now certify that they have received a secure access notice’ — After that, select “Continue” from the drop-down menu.
Step 5: The taxpayer must now choose between receiving the six-digit one-time password (OTP) through text message or phone call — After you’ve made your choice, press enter.
Individuals can also use their registered Aadhaar number or net banking to log in to the income tax e-filing platform.
Step 7: If the taxpayer chooses the Aadhaar option, they must submit their Aadhaar number as well as the OTP they got.
Step 8: To access their account via net banking, the taxpayer must provide their user ID and password.
Step 9: After you’ve finished the login procedure, you’ll need to process the IT returns for the fiscal year 2021-22 according to the instructions on the screen.
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