Tax Audit Deadline – There is great news for income tax taxpayers. The Central Board of Direct Taxes (CBDT) has extended the last date for filing audit reports. The CBDT has taken this step after an interim decision of the Jodhpur Bench of the Rajasthan High Court. In such a situation, taxpayers who had not yet filed their audit reports have got a big relief. The Central Board of Direct Taxes has extended the last date for filing audit reports to 31 October.
The Rajasthan High Court issued this direction while hearing a joint petition filed by the Bhilwara and Jodhpur Tax Bar Associations. Both tax bar associations had filed separate petitions in the Rajasthan High Court seeking an extension of the due date for tax audit reports. However, due to the similar demands in both petitions, the petitions were heard jointly.
The All India Federation of Tax Practitioners (AIFTP) has requested the Central Board of Direct Taxes (CBDT) to extend the due date for filing income tax returns (ITR) and tax audit reports for the assessment year 2025-26. AIFTP President Samir Jani told news agency PTI on Tuesday that a memorandum seeking an extension has been submitted to the CBDT Chairman, citing various challenges faced by taxpayers and professionals, including floods, landslides, technical glitches, and compliance challenges.
What is an audit report?
It should be noted that filing an audit report is mandatory only for taxpayers whose accounts are covered under Section 44AB. The purpose of an account audit under Section 44AB is to ensure compliance with various provisions of the Income Tax Act and other tax law requirements. Tax audit reports are filed in Forms 3CA, 3CB, and 3CD. The CA examines the taxpayer’s accounts and prepares a report with findings.