Tax audit report due date extended to 30th nov 2014
CBDT has extended the due date of filing the tax audit report (TAR) from 30th sep to 30th Nov 2014. However the CBDT order is silent on the issue of date of filing the return of income (ROI) in these cases. We should wait for further clarifications from CBDT for due date of filing the ROI.
Order Under Section 119 of the Income-tax Act, 1961
In exercise of power conferred by section 119 of the Income-tax Act (‘the Act’), the Central Board of Direct Taxes (CBDT) hereby extends the due date for obtaining and furnishing of the report of audit under section 44AB of the Act for Assessment Year 2014-15 in case of assessees who are not required to furnish report under section 92E of the Act from 30th day of September, 2014 to 30th November, 2014.
It is further clarified that the tax audit report under section 44AB of the Act filed during the period from 1st April, 2014 to 24th July, 2014 in the pre-revised Forms shall be treated as valid tax audit report furnished under section 44AB of the Act. -
Good news for tax auditors. Due date extension is a great move since the utilities by income tax departments to upload audit reports in xml formats are yet not ready.
Income tax department can extend further to remove hardship faced by auditors and tax filers.