No further extension in audit filing, ITR: CBDT


The Union finance ministry will no longer be announcing any further extension in the deadline for filing audit reports by companies and income tax returns (ITRs). Central Board of Direct Taxes (CBDT) statement denying any further extension is followed by the Gujarat High Court direction to the Ministry of Finance pertaining to the issue of extension of due dates for filing of the report.

CBDT in an order stated that “All representations for further extension of the due date are hereby rejected.”

The order stated that the deadline for filing audit reports will no longer be extended as it has already been done thrice till January 15 this year. As of now, the last date of filing ITRs in audit cases is February 15 and ended on January 10 in non-audit cases.

“Thus, it is apparent that the government has not only considered representations of various stakeholders but also has been proactive in providing relaxation to the taxpayers by extending due dates regularly.

CBDT said that tax returns and audit reports are a significant part of the formalities of the assessee and therefore, cannot be delayed for an indefinite timeline.

“Many functions of the income tax department start only after filing of the returns by the assessee,” it said.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.