The Central Board of Direct Taxes (CBDT) has extended the deadline for filing audit reports for the financial year 2023-24. It was due on September 30, 2024, but it will now be on October 7, 2024.
The board issued a circular announcing the extension on Sunday, No. 10/2024, reference 225/205/2024-ITA-II. This comes after consideration of the difficulties taxpayers faced in submitting their reports electronically. Quite a few people and organizations were struggling to meet the deadline.
This extension would apply to the class of assessees in Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act. This extension would apply to the class of assessees in Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act. In fact, the extended time allows the taxpayers to make more e-filings. This would help the taxpayers follow the rules of the land without attracting any penalties. The board urges all affected taxpayers to avail this extended time.
In fact, the extended time allows the taxpayers to make more e-filings. This would help the taxpayers follow the rules of the land without attracting any penalties. The board urges all affected taxpayers to avail this extended time.
The taxpayers shall, therefore, prioritize their submissions. And make all efforts to meet the extended due date of October 7, 2024. In that way, late problems could be avoided by making proper planning in advance.
CBDT realizes that compliance matters sometimes become difficult on systems with electronic interfaces. This extension would further alleviate the load on them. And help the taxpayers in filing their returns and completing all compliances without much stress.
This decision of the CBDT would, therefore, be a welcome relief for many. Taxpayers must stay informed about their obligations and due dates. They should also use this extension wisely to ensure all audit reports are filed accurately and on time.
ANI