CBDT extends the ITR filing deadline for tax audit cases to October 31
Image Source – Blue Diamond Gallery

The Central Board of Taxes (CBDT) extended the deadline to file income tax returns for assessees requiring tax audit to the 31st of October 2019 from the 30th of September 2019. 

“As per the representations received from across the country, CBDT has decided to extend the due date for filing of ITRs and tax audit reports from the 30th of September 2019 to the 31st of October 2019 in respect to individuals whose accounts are required to be audited,” CBDT said in a late-night statement.

The formal notification for the same is yet to be published on the official website. 

Also Read: All About Tax Audit Under Section 44AB of Income Tax Act

The Institute of Chartered Accountants of India (ICAI) had requested the CBDT to extend the due date of filing income tax returns for businesses requiring audit under Section 44AB to the 30th of November 2019. Along with the ICAI, the businesses and tax professionals had requested the income tax department to extend the deadline for filing tax audit reports. 

The extension brings much-needed relief to all the taxpayers falling under the category. This category includes companies, partnership firms, proprietorship whose accounts are required to be audited under Section 44AB of the act before filing income tax returns. Certain individuals like a working partner in a partnership firm also fall under this clause. 

For any clarifications/feedback on the topic, please contact the writer at komal.chawla@cleartax.in

You May Also Like

Taxation of dividend income received on or after 1 April 2020 (FY 2020-21)

You may receive a dividend from your equity or mutual fund investments.…

Know the taxation rules for income F&O trading

Futures and options are stock derivatives that are traded in the stock…

Important Cash Transaction Limits and Penalties Under Income Tax That You Need to Know About

In India, there are a lot of transactions that go unaccounted for,…

What is the TDS provision for rent paid by individuals above Rs 50,000?

Many people are unaware of TDS provisions while paying rent on the…