Income Tax Audit Report: The Income Tax Department has extended the date for filing the audit report for 2023-24 by 7 days to 7 October.
Income Tax Audit Report: The Income Tax Department has extended the date for filing audit report for 2023-24 by 7 days to 7 October. The Income Tax Department said in a notification, taxpayers were facing difficulties in electronic filing of various audit reports under the Income Tax Act. In view of this, the deadline for audit report is being extended from 30 September to 7 October.
Rajat Mohan, Executive Director of Accounting & Consulting Company Moore Singhi, told the news agency Bhasha the reason for this extension. He said that due to technical problems in filing the tax audit report electronically, the government had to take the decision to extend the deadline by seven more days.
✅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 assessees 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
Otherwise you will have to pay a heavy penalty
Extension of the last date for filing the audit report is also important because its penalty is very heavy. If you submit the audit report after the last date, you have to pay a penalty of Rs 1.5 lakh or 0.5 percent of the total sales, whichever is less.
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