Monday, November 28, 2022

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File tax audit reports by tomorrow or pay fine

New Delhi: The Income Tax Department has extended the due date for filing tax audit reports till october 7 (Friday) for fiscal 2021-22.
The last for filing tax audit reports has been extended to October 7 from the earlier September 30.

Taxpayers faced a lot of difficulty in uploading the audit reports on the government portal. On consideration of difficulties faced by the taxpayers in the filing of reports of audit for the

Assessment Year 2022-23, Central Board of Direct Taxes (CBDT) decided to extend the due date for filing of various reports of audit for the Assessment Year 2022-23, which was September 30, 2022 to October 7, 2022,(Circular No. 19/2022 F.No.225/49/2022/ITA-II). ” an official notification said.

Previously, the deadline was September 30. If anyone fails to have their accounts audited after the revised deadline, a fine will be levied.

“According to section 271B, if any person who is required to comply with section 44AB fails to get his accounts audited in respect of any year or years as required under section 44AB or furnish such report as required under section 44AB​, the Assessing Officer may impose a penalty,” it said.

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