Taxpayers alert! CBDT grants relaxation in electronic filing of Income Tax forms 15CA, 15CB

The Central Board of Direct Taxes (CBDT) has again extended the timeline for the electronic filing of Income Tax Forms 15CA/15CB by taxpayers.

In view of difficulties reported by taxpayers in filing of the forms online, the date for submission of forms in manual format to the authorised dealers has been extended to July 15, 2021.

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA and 15CB electronically. Currently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorised dealer for any foreign remittance.

Taxpayers can now submit the said Forms in manual format to the authorised dealers till 15 July, 2021. Authorised dealers are advised to accept such Forms till 15 July, 2021 for the purpose of foreign remittances.

A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number.

Deadline for filing IT Returns

Recently, the Income Tax Department extended the deadline for filing IT returns for the financial year 2020-21 due to the second wave of the COVID-19 pandemic, providing a sigh of relief to individual taxpayers.

According to the Income Tax Rules, the last date for individual taxpayers who file ITR-1 or ITR 4 for the previous financial year (2020-21) ended March 31 is usually July 31 every year.

However, individuals can now file tax returns for income earned in the financial year 2020-21 till September 30 instead of July 31.

Similarly, for companies and firms whose accounts are required to be audited, the deadline is usually October 31. But the Central Board of Direct Taxes (CBDT) has extended the deadline for filing returns for companies to November 30, 2021.

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