ITR/ Tax Audit (TAR) Due Date further Extended upto 31 Oct. 2018 (AY 2018-19): CBDT

ITR/ Tax Audit Report (TAR) Due Date further Extended upto 31 Oct. 2018 (AY 2018-19): CBDT

CBDT has tweeted/ notified that the due date for filing of Income Tax Return (ITR) along with Tax Audit Report (TAR) has been further extended from 15 Oct. 2018 to 31 Oct. for FY 2017-18/ AY 2018-19, in the case of corporate assessees/ companies or where tax audit is applicable. However, the extension of due date for filing tax audit report/ ITR from 30 Sept. 2018 to 15 Oct. 2018/ 31 Oct. 2018 has nothing to do with Interest Liability u/s 234A, i.e. no change in liability to pay interest u/s 234A.

It may be noted that ICAI and other Professional Bodies have submitted various representations to CBDT to extend the due date for submission of tax audit report (TAR) with income tax return (ITR) at least upto 31 Oct. 2018. Reportedly, Hon’ble Rajasthan High Court has also issued Directions to CBDT for extension of the ITR/ TAR due date upto 31 Oct. 2018, latest by 10 Oct. 2018 and this CBDT Order may have been issued in compliance thereof as well, besides consideration of requests from the stakeholders.

ITR/ Tax Audit Report Due Date further Extended upto 31 Oct. 2018 (AY 2018-19): CBDT Order dt. 8 Oct. 2018

Order under Section 119 of the Income-tax Act, 1961 

On consideration of representations from various stakeholders for further extension of due date being 30th September, 2018 for purpose of filing return of income if as well as various reports of audit pertaining to Assessment Year 2018-2019 for assessees covered under clause (a) of Explanation 2 of section 139(1) of the Income-tax Act, 1961 (Act), the Board, in partial modification of its order dated 24.09.2018 in file of even number, hereby, further extends the due date for filing of return of income and reports of audit pertaining to Assessment Year 2018-2019 from 15th October, 2018 to 31st October, 2018. However, as specified in earlier order dated 24.09.2018, assessees filing their return of income within the extended due date shall be liable for levy of interest as per provisions of section 234A of the Act.

ITR/ Tax Audit Report Due Date Extended upto 15 Oct. 2018 (AY 2018-19): CBDT

CBDT has tweeted/ notified that the due date for filing of Income Tax Return (ITR) along with Tax Audit Report (TAR) has been extended from 30 Sept. 2018 to 15 Oct. 2018 for FY 2017-18/ AY 2018-19, in the case of corporate assessees/ companies or where tax audit is applicable. However, the extension of due date for filing tax audit report/ ITR from 30 Sept. 2018 to 15 Oct. 2018 has nothing to do with Interest Liability u/s 234A, i.e. no change in liability to pay interest u/s 234A.

It may be noted that ICAI and other Professional Bodies have submitted representations to CBDT to extend the due date for submission of tax audit report (TAR) with income tax return (ITR) at least upto 31 Oct. 2018 (i.e. by 31 days), however the same has been extended for only 15 days only, i.e. upto 15 Oct. 2018.

ITR/ Tax Audit Report Due Date Extended upto 15 Oct. 2018 (AY 2018-19): CBDT Order dt. 24 Sept. 2018

On due consideration of representations from various stakeholders for extending the due date, being 30th September, 2018, for filing of income-tax returns and various reports of audit pertaining to assessment-year 2018-19 for assessees’ covered under clause (a) of Explanation 2 to section 139(1) of the Income-tax Act, 1961 (Act) read with relevant provisions of the Act Income-tax Rules, the CBDT, hereby extends the due date for filing of income-tax returns as well as all reports of audit (which were required to be filed by the said specified date), from 30th September, 2018 to 15th October, 2018. However, there shall be no extension of the due date for purpose of Explanation 1 to section 234A (Interest for defaults in furnishing return) of the Act and the assessee shall remain liable for payment of interest as per provisions of section 234A of the Act.

ICAI Representation to CBDT: Extend last date for Tax Audit Reports/ ITR from 30 Sept. 2018 to 31 Oct. 2018

ICAI has submitted a Representation to CBDT on 31 Aug. 2018 requesting for extension of last date for submission of Tax Audit Reports and related returns (ITR) for AY 2018-19 from 30 Sept. to 31 Oct. 2018 in the case of Corporate Assessees or where tax audit is applicable. Again on 10 Sept. 2018 and 20 Sept. 2018, ICAI has made further submissions to supplement its representation.

Taxpayers, Accountants and CA Professionals… all are expecting that CBDT will duly consider the ICAI request, on merits of the facts represented before it.

Further, if CBDT has any plans to extend the tax audit due date, then it should notify the same immediately, as the last moment extension is not beneficial for anyone. Otherwise, CBDT should immediately communicate that tax audit report filing due date shall not be extended. Either way confusion should not persist and a clear deadline should be provided for filing of tax audit report and ITRs for convenience of all concerned.

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