CBDT extends deadline for filing audit report, last date extended from 30 September to 7 October

New Delhi| The Central Board of Direct Taxes (CBDT) has extended the deadline for filing various audit reports for the financial year 2023-24. A circular issued by CBDT on Sunday (No. As of 10/2024, reference 225/205/2024-ITA-II), the deadline for the filing of these reports has been extended from 30 September this year to 7 October.

“The Central Board of Direct Taxes (CBDT) has decided to extend the date of filing of various reports of audit for the last year 2023-24”, the CBDT said in an official statement. The last date for filing audit reports for taxpayers referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act was September 30, 2024, which has been extended to October 07, 2024

According to the circular, the decision comes after CBDT considered the challenges faced by taxpayers and other stakeholders in submitting required reports electronically. Many individuals and organizations were facing difficulties in meeting the original deadline for filing audit reports under the provisions of the Income Tax Act, 1961.

CBDT, in exercise of its authority under section 119 of the Income Tax Act, decided to grant this extension. This applies to taxpayers covered under clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act. This section refers to specific categories of taxpayers, who are required to submit audit reports for the assessment year.

The extension of the deadline for filing audits will give taxpayers additional time to complete their electronic filings. Now they can follow the rules without facing unnecessary pressure or punishment. CBDT has advised taxpayers to make the most of this extended deadline and ensure timely submission of their audit reports by the new due date of 7 October 2024.