ITR: The government extended the date for filing income tax returns for companies by one month to November 30.
ITR: The government has extended the deadline for companies to file Income Tax Returns by one month to 30 November. Apart from this, the last date for submitting the audit report for companies that need to get their accounts audited has also been extended by one month to October 31.
The Finance Ministry said in a statement on Monday, the deadline for filing income tax return in Form ITR-7 (ITR-&) for the assessment year 2023-24 has been extended from October 31, 2023 to November 30, 2023.
In the current financial year, till mid-September, net direct tax collection has increased by 23.51% to Rs 8.65 lakh crore. The Finance Ministry said that there has been a huge increase in direct tax collection due to more advance tax payment by the companies. During this period, advance tax payment has increased by 21%.
CBDT extends due date for filing of Form 10B/10BB for FY 2022-23 to 31.10.2023.
Due date for furnishing of ITR in Form ITR-7 for the AY 2023-24 also extended to 30.11.2023.
CBDT Circular No. 16/2023 dated 18.09.2023 issued and is available at: https://t.co/tTSzaqqPSR pic.twitter.com/fsCNEJk4oX
— Income Tax India (@IncomeTaxIndia) September 18, 2023
According to the data, net tax collection has been 47.45% of the budget estimate of Rs 18.23 lakh crore for the current financial year. In the last financial year 2022-23, direct tax collection was Rs 16.61 lakh crore.
The last date for payment of the second installment of advance tax was 15 September. The ministry said in a statement that the net direct tax collection of Rs 8,65,117 crore till September 16 includes corporate income tax (CIT) and securities transaction tax (STT) of Rs 4,16,217 crore and personal income tax (PIT) of Rs 4,47,291 crore. ) is included.
