Due Date for Tax Audit Reports Extended

The due date for IT returns for companies and Audit reports for the assessment year 2019-20 is 30th September 2019. Due to various reasons put forth by assessees, the due date has been extended till 31st October 2019. The relevant notification released on 27th September is provided below:

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The due date for filing income tax returns for companies and tax audit reports has been extended until 7th November 2017. The extension announcement was made through the Income Tax India twitter account this evening. https://twitter.com/IncomeTaxIndia/status/925404875084636160

Who is this extension applicable for?

Companies registered in India and entities requiring 1 are required to file their income tax return on or before the 30th of September. The deadline on 30th September was originally extended until 31st October 2017. Now, the deadline has been extended until 7th October 2017 to facilitate Tax Professionals and Businesses.

Government Notification for Tax Audit Extension

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Frequently Asked Questions

Common questions about Extended Deadline for Company Tax Audit Reports 2019.

The extension aims to provide relief to companies and tax professionals by giving them additional time to complete and file their income tax returns and tax audit reports for the assessment year 2019-20. This extension acknowledges the challenges faced by assessees and tax professionals in meeting the original deadline of September 30, 2019.

The extension is applicable to all companies registered in India and entities required to get their accounts audited (tax audit) under the Income Tax Act, 1961. These entities can now file their income tax returns and tax audit reports for the assessment year 2019-20 by October 31, 2019, instead of the original due date of September 30, 2019.

The original due date for companies and entities requiring tax audit to file their income tax returns and tax audit reports for the assessment year 2019-20 was September 30, 2019.

The extension of the due date was announced through a notification issued by the Income Tax Department on September 27, 2019. The notification provided the details of the extended due date and the applicable categories of assessees.

No, the extension is specifically applicable to companies registered in India and entities required to undergo tax audit under the Income Tax Act, 1961. Other categories of assessees may have different due dates for filing their income tax returns.

It is possible that the due date may be further extended if the government receives additional requests or identifies the need for more time based on the circumstances. However, as of now, the extended due date for filing income tax returns and tax audit reports for the assessment year 2019-20 is October 31, 2019.

The extension of the due date is likely to provide relief to companies and tax professionals who may have faced challenges in completing the compliance requirements within the original deadline. This extension acknowledges the complexities involved in preparing and filing income tax returns and tax audit reports.

Yes, if the income tax returns and tax audit reports are not filed by the extended due date of October 31, 2019, the assessees may be subject to penalties and interest charges as per the provisions of the Income Tax Act, 1961.

The article specifically mentions the extension for companies and entities requiring tax audit for the assessment year 2019-20. It does not provide information about any extensions for other types of income tax filings or assessees.

For detailed information and official updates regarding the extended due date, you can refer to the notification issued by the Income Tax Department or visit the official website of the Income Tax Department (www.incometaxindia.gov.in). Additionally, you can consult with a qualified tax professional for guidance specific to your situation.