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Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 11th January, 2022
PRESS RELEASE
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act, 1961 (the Act), the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22. The further details are as under:
1. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 30th September, 2021, in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, as extended to 31st October, 2021 and 15th January, 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is further extended to 15th February, 2022;
2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 31st October, 2021, in the case of assessees referred in clause (aa) of Explanation 2 to sub-section (1) of section 139 of the Act, is extended to 15th February, 2022;
3. The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which was 31st October 2021, as extended to 30th November, 2021 and 31st January, 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated
09.09.2021 respectively, is further extended to 15th February, 2022;
4. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st October, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November, 2021 and 15th February, 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is further extended to 15th March, 2022;
5. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 30th November, 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December, 2021 and 28th February, 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is further extended to 15th March, 2022.
It is also clarified that the extension of the dates as referred to in clauses (12) and (13) of Circular No.9/2021 dated 20.05.2021, clauses (4) and (5) of Circular No.17/2021 dated 09.09.2021 and in clauses (4) and (5) above shall not apply to
Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub- section (1) of that section exceeds rupees one lakh. Further, in case of an individual
resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension under Circular No.9/2021 dated 20.05.202, Circular No.17/2021 dated 09.09.2021 and as above) provided in that Act, shall be deemed to be the advance tax.
CBDT Circular No.01/2022 in F.No.225/49/2021/ITA-II dated 11.01.2022 issued. The said Circular is available on www.incometaxindia.gov.in.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 10th January, 2022
PRESS RELEASE
Income Tax Department conducts searches in Kerala
The Income Tax Department carried out search and seizure operation on 05.01.2022 on two groups, engaged in the business of quarry operation. More than 35 premises spread across districts of Kottayam, Eranakulam, Thrissur, Palakkad and Kannur have been covered in the search operation.
During the course of the search operation, various incriminating documents and digital evidences have been found and seized, including a parallel set of books of account recording the entries of actual sales and receipt of cash. These evidences
have clearly revealed the modus operandi being followed by the quarry operators as they are indulging in large scale suppression of sales made in cash including the fact that these transactions are not recorded in the regular books of account of the group.
The correlation of these evidences also indicates that unaccounted cash so generated is systematically invested in acquisition of immovable properties, used for the business of cash loans, and unrecorded capital investments in other businesses. The search team has also gathered evidences of on-money payment for purchase of properties and substantial cash deposits in undisclosed bank accounts. The assessees of the group have been found to have sold immovable properties without duly accounting for the capital gains arising from such transactions.
The search action has resulted in seizure of unaccounted cash of more than Rs 2.30 crore.
So far, the search has led to the detection of estimated unaccounted income to the tune of Rs. 200 crore.
Further investigations are in progress.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
Income Tax Department conducts pan-India searches in case of mobile manufacturing companies
The Income Tax Department carried out search and seizure operationspan-India on 21.12.2021in the case of certain foreign controlled Mobile Communication & Mobile Hand-set Manufacturing Companies and their associated persons. Various premises in the states of Karnataka, Tamil Nadu, Assam, West Bengal, Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Bihar, Rajasthan, Delhi & NCR have been covered in the action.
The search action has revealed that two major companies have made remittance in the nature of royalty, to and on behalf of its group companies located abroad, which aggregates to more than Rs.5500 crore. The claim of such expenses does not seem to be appropriate in light of the facts and evidence gathered during the search action.
The search operation has also brought out the modus operandi of purchase of the components for manufacturing of mobile handsets. It is gathered that both these companies had not complied with the regulatory mandate prescribed under the Income-tax Act, 1961 for disclosure of transactions with associated enterprises. Such lapse makes them liable for penal action under the Income-tax Act, 1961, the quantum of which could be in the range of more than Rs.1000crore.
The search has brought to fore another modus operandi whereby foreign funds have been introduced in the books of the Indian company but it transpires that the source from which such funds have been received are of doubtful nature, purportedly with no credit worthiness of the lender. The quantum of such borrowings is about Rs.5000 crore, on which interest expenses have also been claimed.
Evidence with regard to the inflation of expenses, payments on behalf of the associated enterprises, etc. have also been noticed which led to the reduction of taxable profits of the Indian mobile handset manufacturing company. Such amount could be in excess of Rs.1400 crore.
It is further found that one of the companies utilized the services of another entity located in India but did not comply with the provisions of tax deduction at source introduced w.e.f. 01.04.2020. The quantum of liability of TDS on this account could be around Rs.300 crore.
In case of another company covered in the search action, it has been detected that the control of the affairs of the company was substantively managed from a neighbouring country. The Indian directors of the said company admitted that they had no role in the management of the company and lent their names for directorship for namesake purposes. Evidences have been gathered on attempt to transfer the entire reserves of the company to the tune of Rs.42 crore out of India, without payment of due taxes.
Survey action in the case of certain fintech and software services companies have revealed that a number of such companies have been created for the purposes of inflating expenses and siphoning out of funds. For this purpose, such companies have made payments for unrelated business purposes as also utilized the bills issued by a Tamil Nadu based non-existent business concern. The quantum of such out-flow is found to be around Rs.50 crore.
Further investigations are in progress.
(SurabhiAhluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
5.89 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021
The Income Tax Department extends New Year greetings to everyone. We also express our gratitude to taxpayers for filing their Income Tax Returns in time.
Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date. More than 46.11 lakh ITRs were filed on 31.12.2021. In order to assist taxpayers with a smooth experience on the portal, 16,850 taxpayer calls and 1,467 chats were responded to by the helpdesk. In addition, the Department has been proactively engaging with and reaching out to taxpayers and professionals for assistance on its official Twitter handle. On 31st December, 2021 alone, more than 230 Tweets from taxpayers and professionals were responded to.
Out of 5.89 crore ITRs filed for AY 2021-22 as on 31st December, 49.6% of these are ITR1 (2.92 crore), 9.3% are ITR2 (54.8 lakh), 12.1% are ITR3 (71.05 lakh), 27.2% are ITR4 (1.60 crore), 1.3% are ITR5 (7.66 lakh), ITR6 (2.58 lakh) and ITR7 (0.67 lakh). Over 45.7% of these ITRs have been filed using the online ITR form on the portal and the balance have been uploaded using the ITR created from the offline software utilities.
In comparison, as on 10th January, 2021 (the extended due date for ITRs for AY 2020-21), the total number of ITRs filed was 5.95 crore with 31.05 lakh ITRs filed on the last day ie on 10th January, 2021 as against over 46.11 lakh ITRs filed on the last day this year.
The Department gratefully acknowledges the contribution of the taxpayers, Tax Practitioners, Tax Professionals and others who have made this possible. We reiterate our resolve to work tirelessly to ensure a smooth & stable taxpayer service experience to all.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT