CBDT Extends Audit Report Filing Deadline for FY 2023-24

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing various audit reports for the financial year 2023-24 from September 30 to October 7, 2024, citing challenges faced by taxpayers and the need for additional time to comply with electronic submission requirements.

The Central Board of Direct Taxes (CBDT) has announced an extension for the filing of various audit reports for the financial year 2023-24. According to a circular (No. 10/2024, reference 225/205/2024-ITA-II) issued on Sunday, the deadline for these reports has been extended from September 30 to October 7.

In its official statement, CBDT said, "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 of the Act, to 07thOctober 2024." The board made this decision after considering the challenges faced by taxpayers and stakeholders in filing the required reports electronically.

Exercising its authority under Section 119 of the Income-tax Act, the CBDT's decision applies to assessees under clause (a) of Explanation 2 to sub-section (1) of Section 139 of the Act. This extension aims to provide additional time for these taxpayers to complete their electronic filings, ensuring adherence to rules without undue pressure or penalties.

Taxpayers are encouraged to utilize this extended deadline to ensure timely submission of their audit reports by the new due date, October 7, 2024. (ANI)

(With inputs from agencies.)