The Central Board of Direct Taxes (CBDT) announced an extension for the deadline to file tax audit reports, originally set for September 30, 2024. The new deadline of October 7, 2024, comes in response to the challenges faced by taxpayers with electronic submissions under the Income Tax Act. The extension benefits a wide range of taxpayers and is seen as a significant relief for those struggling with the complexities of the filing process. The CBDT's decision was prompted by reports of technical difficulties and invokes its authority to extend the submission date for all affected taxpayers.
The CBDT has extended the deadline for filing tax audit reports to October 7, 2024, giving individual and corporate taxpayers an additional week to comply with the Income Tax Act. The move comes after technical difficulties with the e-filing portal resulted in challenges for taxpayers. Tax experts believe that the extension applies to all taxpayers whose deadline for filing income tax returns is also October 31, 2024. Failure to submit the report by the revised deadline could result in penalties under Section 271B of the Income Tax Act.