New Delhi, Jan 28 (KNN) The last day for submitting tax audit reports under form 10B  has been pushed to February 15, 2022, whereas, the deadline to file income tax returns (ITR) in audit cases, for the assessment year 2021-22, has been extended till March 15, 2022, the Central Board of Direct Taxes (CBDT) announced.

The decision comes in the backdrop of several chartered accountant associations demanding the government to extend the deadline, as they cited the covid impact and the glitches in the e-filing portal as the reasons behind the delay in submissions.

The deadline for filing tax audit reports was earlier fixed as January 15, 2022. For submissions to be made following the specified date, a penalty of 0.5 percent of the turnover, or a maximum of Rs 1.5 lakh was to be imposed.

The CBDT circular, however, has pushed the deadline to February 15. "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 hereby extended to 15th February 2022," it states.

The deadline for the audit report for transfer pricing has also been extended till February 15.

For ITRs to be filed post-audit reports, the last date has been extended from February 15 to March 15, the circular further noted.