CBDT extends due date for filing of various audit reports for the financial year 2023-24. According to a circular issued by the Central Board of Direct Taxes, or CBDT (No. 10/2024, reference 225/205/2024-ITA-II) on Sunday, the due date has been extended from September 30 to October 7 of this year.

The CBDT said in a statement, "The Central Board of Direct Taxes has decided to extend the date for filing of various reports of audit for the Assessment Year 2023-24. The due date for filing of audit reports for the assessees mentioned in clause (a) of Explanation 2 of sub-section (1) of section 139 of the Act which was 30th September 2024 is extended to 07th October 2024." According to the circular, this move comes after the considered hardships of the taxpayers and other stakeholders to submit the reports electronically. Many individuals and organizations were finding it difficult to meet the original deadline for filing audit reports as per the provisions under the Income Tax Act, 1961. The CBDT decided to grant this extension by invoking its powers under section 119 of the Income Tax Act. Such an order would be applicable in respect of taxpayers covered under clause (a) of Explanation 2 of sub-section (1) of section 139 of the Act. This clause covers those categories of taxpayers who have to file audit reports for the assessment year.

The extension of the last date for filing audit will give extra time to taxpayers in completing their electronic filing. Now, they can comply with the rules without facing unnecessary pressure or penalty. The CBDT has advised taxpayers to take maximum advantage of the extended deadline and ensure timely submission of their audit reports by the new due date of October 7, 2024.