The Central Board of Direct Taxes, or CBDT, has announced its extension of the date of filing returns of income tax (I-T) cases that demand to be audited by a month to 31 October 2019. The actual deadline for filing ITRs was 30 September 2019. This relieves the burden of all the entities who haven’t filed their ITRs yet.
For the past two days, there has been much debate and stressful discussion about extending the date of Income Tax Return filing, and finally, the income tax department has extended the date.
[su_note note_color=”#6aadd1″ text_color=”#ffffff”]The CBDT said in tweet “On consideration of representations recd (received) from across the country, has decided to extend the due date for filing of ITRs & Tax Audit Reports from 30th Sep, 2019 to 31st of Oct, 2019 in respect of persons whose accounts are required to be audited,” The formal notification on same will be issued soon.”[/su_note]
The Central Board of Direct Taxes is responsible for framing the policy for the income tax department. This particular category of ITR is to be registered by entities that are taxed under section 44AB of the I-T Act, such as companies, proprietorships, and partnership firms. Their accounts must be audited before ITR filing. Some other categories, like working partners in a firm, also come under this clause.
Before, the Institute of Chartered Accountants of India (ICAI) had written to the Central Board of Direct Taxes recommending extending the Income Tax Return deadline for audited entities to November 30.
In a note buttonholing all its members, ICAI wrote: “We would like to inform members that based on the feedback about the various technical and practical difficulties being faced by taxpayers in the filing of the new forms of returns of income for AY 2019-20, the difficulties being faced by the taxpayers in filing the ITR Forms as well as tax audit report under section 44AB by 30th September 2019 have been conveyed to the CBDT vide a representation dated 16th September 2019.”
