The deadline to file a tax audit report has been increased till February 15 and similarly, the last day for filing income tax returns has also been extended to March 15, 2022. Picture this, taxpayers can file their income tax returns for FY 2020-21 by March 15.

The decision came in response to a request from numerous groups representing chartered accountants, who cited the COVID 19 impact and e-filing site difficulties in their request for a further extension of the deadline.

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According to a previous directive issued by the Central Board of Direct Taxes, the last day for filing ITRs for individual taxpayers was December 31,2021.(CBDT). The same has now been extended till March 15 according to a recent finance ministry circular.

The deadline for filing tax audit reports was previously set for January 15, 2022. A penalty of Rs 5,000 ways to be applied for submissions received after the deadline.

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