CBDT Latest News: Due Date Extended for Audit Report Filing 

Introduction

CBDT latest news confirms an important update for taxpayers and professionals. The Board has extended the due date for furnishing audit reports under the Income-tax Act, 1961. Originally due on 30th September, the deadline is now pushed to 31st October. This extension comes after numerous representations from professional associations, Chartered Accountant bodies, and taxpayers who highlighted the difficulties in meeting the earlier timeline. Some of these issues were even raised before various High Courts, bringing more attention to the matter. The challenges cited included floods and natural calamities in certain regions, disruption of professional activities, and high filing pressure during peak season.

Why CBDT Extended the Due Date  ?

The CBDT received multiple representations from professional associations and Chartered Accountant bodies. These highlighted challenges faced by taxpayers and practitioners in timely filing of audit reports. The difficulties were due to:

• Disruptions caused by floods and natural calamities.

• Delay in professional activities due to regional disturbances.

• High workload near statutory filing deadlines.

Some of these matters were also presented before High Courts, prompting the Board to take action.

Functioning of the E-Filing Portal  

Despite the difficulties reported, CBDT clarified that the Income-tax e-filing portal is stable and fully functional. Key highlights shared:

• No major technical glitches were observed.

• As of 24th September, over 4.02 lakh Tax Audit Reports had been uploaded.

• More than 60,000 TARs were filed on 24th September alone.

• By 23rd September, over 7.57 crore Income Tax Returns (ITRs) were already submitted successfully.

What Taxpayers Need to Know ? 

• The extended due date now stands at 31st October.

• The relief applies to all assessees covered under clause (a) of Explanation 2 to section 139(1) of the Act.

• Taxpayers should complete filings within the new timeline to avoid penalties.

• Waiting until the last date is not advisable due to heavy portal traffic.

• This CBDT latest news on income tax is a reminder to stay prepared with documentation in advance.

Conclusion  

CBDT latest news has brought relief to taxpayers by extending the audit report filing deadline. While the e-filing portal is functioning well, disruptions faced by professionals and taxpayers led to this extension. Businesses should use the extended time wisely to complete filings accurately and avoid last-minute challenges. Ebizfiling can help businesses file their audit reports smoothly and stay fully compliant within the new due date.

Suggested Read :

Due Date for filing ITR 2024-2025
How to download ITR V Form ?  
What is Form ITR 3?

FAQs on CBDT Latest News