Table of Contents
The Central Board of Direct Taxes (CBDT) issued Tax audit due date extension notification. The Board notified the extension of timelines for filing of various reports of audit for the Assessment Year 2024-25.
The Board has considered the difficulties faced by the taxpayers and other stakeholders in electronic filing of various reports of audit under the provisions of the Income-tax Act, 1961.
The Board in exercise of its powers under Section 119 of the Income Tax Act, extended the specified date of furnishing of report of audit under any provision of the Income Tax Act for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in Explanation 2 of section 139(1)(a) of the Income Tax Act, to 7th October, 2024.
Applicability Of Extension For Filing Audit Reports
Section 139(1) of the Income Tax Act deals with the mandatory return policies while filing the Income Tax Return.
The extension is applicable on various entities namely:
- a company; or
- a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; or
- a partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force [or the spouse of such partner if the provisions of section 5A applies to such spouse].
FAQs
Is there any Tax audit due date extension notification?
The Central Board of Direct Taxes (CBDT) issued Tax audit due date extension notification. The Board notified the extension of timelines for filing of various reports of audit for the Assessment Year 2024-25.
Circular Details
Circular No. 10/2024
Date: 29/09/2024
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