The central government has extended the deadline for filing audit reports for the assessment years 2024 to 2025 from 30 September 2024 to 7 October 2024, given the problems taxpayers face in electronic submission as per CBDT rules.
The government’s main objective is to relieve customers of their troubles. The government issued this information through a letter on its official Twitter handle, Income Tax India.
Know how much tax will have to be paid
The government’s audit extension will affect all taxpayers, including individuals, companies, and other taxes.
It includes all those who must file income tax returns before 30 October 2024 and whose audit report was to be filed by 30 September. According to the tax expert, everyone has to submit their audit report by 7 October.
✅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 assesses referred in clause (a) of Explanation 2 to sub-section (1) of section 139… pic.twitter.com/jyuadaXm71
— Income Tax India (@IncomeTaxIndia) September 29, 2024
Taxpayers were facing many problems with the official website of CBDT because the site was working very slowly for E-filling, which many people reported. People who had to file their ITR by 31 October looked very upset because they had to submit the audit report by 30 September but faced problems in do E-FILLING.
Deepak Chopra of the Chartered Accountants Association of Karnataka confirmed this information and informed everyone about it.
The central government saw these problems and decided to extend the date for submitting the audit report to 7 October. The government has posted this information on its Twitter handle.
Due to the problems on the tax portal, people are facing difficulty in submitting Form 10B / 10BB and other necessary information reports.
The ITR deadline is expected to be extended to the first week of November because the Diwali festival is in November, and the government can make a big announcement about this. The government can give people a chance to fill the ITR until 7 November.
Those who have benefited from the extension of this deadline were supposed to pay a penalty of 0.5% on missing the deadline, but the extension has given them a lot of relief.
If you do not submit your tax audit report within the extended deadline, you may have to pay the fine imposed by the government.