Due Date For Filing Income Tax Return, Audit Report??

Due Date For Filing Income Tax Return, Audit Reports Extended By 15 Days

The taxman last month announced the extension of the maturity date of September 30 by a similar 15 days.

For the same assessment year, the deadline for submitting an audit report has been pushed back to October 31 from September 30. The due date for filing returns for AY 2021-22 for corporate taxpayers and individual taxpayers subject to tax audit has been extended from October 31 to November 30.

 The Government on Monday extended the due date for submission of income tax returns (ITR) and audit reports. The Direct Tax Center Board, the top policy-making body of the Income Tax Department, said the due date for filing income tax returns and the audit report for Assessments 2018-19 (2017-18 financial year) is October 31, 2018 for certain. taxpayer category. Monday’s step marks the second extension given by the Direct Tax Center Council to assessors whose bookkeeping must be audited. The move comes after the tax officer considers representation from stakeholders, he said in a statement.

The taxman last month announced the extension of the maturity date on September 30 by the same 15 days, until October 15, 2018.

Submission of income tax returns by paid taxpayers and those choosing the Estimated Income Scheme jumped 71 percent to 5.42 crore until August 31, according to data released by the Income Tax Department. This taxpayer category must provide their ITR for the 2017-18 financial year in August.

A taxpayer must mandatorily undergo a tax audit of his/ her books of accounts if the sales, turnover, or gross receipts exceeds Rs 1 crore in a financial year. The threshold limit of Rs 1 crore is proposed to be increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20.

The taxman announced a new due date of October 31 filing of ITR and audit reports

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