CBDT extends tax audit deadline to Oct 21, taxpayers can file returns till Nov 21
New Delhi, Sep 28 (IANS) The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Return of Income for assessment year (AY) 2026-27 from October 31 to November 21 for persons subject to audit under the Income-tax Act, 1961, according to an official statement issued on Monday.
Accordingly, the ‘specified date’ for furnishing the audit report also stands extended from September 30 to October 21, the statement said.
A formal notification to this effect is being issued separately, the statement added.
The demand for an extension had gathered momentum in recent weeks, with several chartered accountant associations and tax professionals seeking that the deadline be pushed to October 31. Tax professionals had also raised concerns over the time required to complete audit procedures, verify disclosures, and reconcile information available across various tax and financial records.
The extension will give taxpayers and their auditors more time to complete the audit process and furnish the required report on the income-tax e-filing portal and is expected to facilitate the ease of doing business.
Meanwhile, the government’s net direct tax collection has recorded a robust 13 per cent growth to surpass the Rs 12.12 lakh crore mark between April 1 and September 17 of the current financial year compared to the same period of the previous financial year, according to official data.
Gross direct tax collections rose over 15 per cent year-on-year basis to Rs 14.3 lakh crore during the same period, the figures showed.
Corporate tax mop-up grew 19.48 per cent to about Rs 5.56 lakh crore, while personal income tax and collection from Hindu undivided families increased 6 per cent to over Rs 6.16 lakh crore. Securities Transactions Tax (STT) collection jumped 53 per cent to Rs 40,214 crore between April 1 and September 17 compared to the same period of the previous year.
Refund issuance surged by over 29 per cent to cross Rs 2.2 lakh crore during this period, the data further showed.
–IANS
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