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Tax Alert - Government Extends Tax Return and Audit Report Filing Deadline to 7 November 2017

01 November 2017

The due date for furnishing of tax return for taxpayers namely a company and non-corporate taxpayers, working partner of a firm whose accounts are required to be audited under the Income-tax Act (IT Act) or any other law is 30th September following the fiscal year (April to March). The deadline also applies to filing of various audit reports prescribed under the IT Act such as Tax Audit Report in Form 3CA/3CB, Form 3CD and Report for computing book profits of the company in Form 29B,etc.

The Central Board of Direct Taxes (CBDT) on 31 August 2017 had extended the due date for filing return of income as well as various reports of audit prescribed under the Act from 30 September 2017 to 31 October 2017 for the above taxpayers. Various stakeholders had made representations to CBDT for further extension. Considering the same, CBDT has further extended the above mentioned due date from 31 October 2017 to 7 November 2017 for fiscal year 2016-17.                                                                                                                                                            

This is the second extension given to the taxpayers after the original due date of 30th September was extended till 31st October. The order of CBDT is a welcome relief for a large number of taxpayers and professionals who are busy in making various compliances under the GST regime.