Taxpayers who pay income tax received good news today. The Central Board of Direct Taxes (CBDT) has extended the deadline for submitting separate audit reports for the previous year, 2023-24.
Initially, the last date to file the income tax audit report was set for September 30th, but due to technical issues faced by some taxpayers, the Income Tax Department has decided to grant an extension.
Know how long the deadline has been extended
The deadline for filing the income tax audit report has been extended by 7 days, now due on October 7, 2024.
The extension was necessary due to the challenges taxpayers have encountered when filing audit reports, particularly with electronic submissions.
Today, before the deadline ends, CBDT made this decision to provide relief to taxpayers who file audit reports in large volumes.
✅Central Board of Direct Taxes (CBDT) has decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139… pic.twitter.com/jyuadaXm71
— Income Tax India (@IncomeTaxIndia) September 29, 2024
What is the last date for taxpayers who need to have their audit completed?
Many taxpayers who undergo an audit must first file their audit report and then pay their taxes along with it.
If they fail to submit their audit report, they could face a fine of up to ₹1.5 lakh.
Therefore, taxpayers now have an additional 7 days to complete this task, allowing them to file their audit reports on time.
The Income Tax Department has extended the deadline, a decision made under sub-section (1) of the Income Tax Act 139.
