audit tax report

September 19, 2023

CBDT Extends Due Date For Filing Form 10B/10BB, ITR-7 Till Oct 31

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The Central Board of Direct Taxes (CBDT) has now extended the deadline for submitting audit reports in Form 10B/Form 10BB for the Financial Year (FY) 2022–23 from 30 September to 31 October 2023, CBDT informed in its circular.

The 30 November 2023 deadline for filing the Return of Income in Form ITR-7 for the Assessment Year 2023–24 has also been extended from 31 October 2023.

Form 10BB must be completed by educational institutions and healthcare organisations operating under Section 10(23C) of the law, whereas Form 10B applies to charitable organisations and religious trusts operating under Section 12AB of the Income Tax Act.

A large number of taxpayers, including the nation’s salaried class, had until July 31 to submit their ITRs. Up until the deadline, a record-breaking 6.77 crore returns were submitted, a 16 percent increase over the previous year.

October 27, 2022

CBDT Extends ITR With Audit Reports Filing Deadline To 7 Nov For AY22-23

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The previous due date of filing ITR for above mentioned assessees was 31 October 2022. In the last month CBDT had extended the deadline for filing audit reports. Therefore, it has now extended the due date for filing income tax returns. It is to be noted that the due date for filing of transfer pricing audit certificates still remains unchanged that is on October 31 and no extension has been made to it

The Central Board of Direct Taxes (CBDT) through a notification extended the deadline for filing income tax returns (ITRs) by corporate and individuals whose accounts need to be audited, to 7 November 2022.

Vide notification dated 26 October 2022, the apex body said, “In consequence of the extension of due date for various reports of audit in the case of assessees referred in clause (a) of Explanation 2 to subsection (I) of section 139 of the Act to 7th October 2022 by Circular No. 19/2022 dated 30.09.2022, Central Board of Direct Taxes (CBDT), in the exercise of its powers under Section 119 of the Income-tax Act,1961 (Act), extends the due date of furnishing of Return of Income under subsection (1) of section 139 of the Act for the Assessment Year 2022-23, which is 31st October 2022 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (I) of section 139 of the Act, to 07th November 2022.”

It is to be noted that the due date for filing of transfer pricing audit certificates still remains unchanged that is on October 31 and no extension has been made to it.

October 1, 2022

Government Extends Tax Audit Report Filing Deadline Till Oct 7

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The extension is given after considering certain difficulties faced by taxpayers and other stakeholders in filing various reports of audit for AY 2022-23.

The income tax department extended the due date for filing tax audit reports by seven days till October 30 for the financial year 2021-22, on 30 September.

“Central Board of Direct Taxes (CBDT) has decided to extend the due date for filing of various reports of audit for the Assessment Year 2022-23, which was 30th September 2022 to 07th October 2022,” said an official statement.

According to the circular issued on 30 September, the said extension is given after considering certain difficulties faced by taxpayers and other stakeholders in filing various reports of audit for the Assessment Year 2022-23.

The taxpayers who need to get their accounts audited by the chartered accountants are required to file the tax audit report with the Income Tax department by 30 September.