Has CBDT Extended the Deadline for Filing Audit Reports for AY 2024-25?
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Synopsis
In a significant move, the CBDT has extended the deadline for filing audit reports for the assessment year 2024-25 to October 31, responding to challenges faced by taxpayers due to natural disasters. This article delves into the implications of this decision and its impact on taxpayers and professionals alike.
Key Takeaways
- CBDT extends deadline for audit reports to October 31.
- Extension is a response to natural calamities affecting taxpayers.
- Over 402,000 Tax Audit Reports have been successfully uploaded.
- The Income-tax e-filing portal is functioning smoothly.
- Section 139(1) requires timely filing of income tax returns.
New Delhi, Sep 25 (NationPress) The Central Board of Direct Taxes (CBDT) has declared on Thursday that the deadline for submitting various audit reports related to the financial year 2024–25 (Assessment Year 2025–26) has been postponed from September 30 to October 31. This extension applies to assessees mentioned in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Income Tax Act, 1961.
The Board received requests from several professional groups, including Chartered Accountant associations, pointing out challenges faced by taxpayers and professionals in meeting the audit report deadlines. The issues raised include disruptions caused by floods and other natural disasters in certain regions, affecting normal business operations and professional work. This situation has also been brought to the attention of the High Courts, as indicated in the press release.
The statement further noted that the Income-tax e-filing portal has been functioning effectively without any technical issues, with Tax Audit Reports being successfully uploaded. The system is operational and fully equipped to handle the submission of various statutory documents and reports. As of September 24, a total of 402,000 Tax Audit Reports (TARs) have been uploaded, with over 60,000 TARs uploaded on that very day. Additionally, more than 75.7 million ITRs have been filed by September 23.
However, in light of the representations from tax practitioners and their court submissions, the 'specified date' for the submission of audit reports under any provisions of the Income Tax Act, 1961, for the financial year 2024-25 (Assessment Year 2025-26), concerning assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, has been extended from September 30 to October 31, the statement elaborated.
Section 139(1) relates to the filing of both voluntary and mandatory income tax returns, mandating individuals and entities with income exceeding the exemption limit to submit their returns by the designated deadline.
Point of View
We recognize the importance of this extension by the CBDT. It reflects not only responsiveness to the difficulties faced by taxpayers but also a commitment to ensuring compliance with the Income Tax Act. The CBDT’s decision demonstrates a balance between regulatory requirements and the real-world challenges that taxpayers encounter.
NationPress
25/09/2025
Frequently Asked Questions
What is the new deadline for filing audit reports?
The new deadline for filing audit reports for the assessment year 2024-25 is now October 31.
Why was the deadline extended?
The deadline was extended due to representations from professional associations citing difficulties faced by taxpayers, particularly due to natural disasters.
Who does this extension apply to?
This extension applies to assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Income Tax Act, 1961.
How many Tax Audit Reports have been uploaded so far?
As of September 24, a total of 402,000 Tax Audit Reports have been uploaded.
What is Section 139(1) about?
Section 139(1) pertains to the submission of both voluntary and obligatory income tax returns, requiring individuals and entities with income exceeding the exemption limit to file their returns by the specified deadline.
