The Income Tax Department has extended the deadline for filing ITR and Form 10A, giving relief to individual taxpayers. CBDT has said that keeping in view the convenience of the taxpayers, the last date is being extended once again. Under this, the deadline for filing audited ITR has also been extended, which has now been extended to November 7.
New Delhi. The Income Tax Department has given two big reliefs to the taxpayers. One, the deadline for filing income tax return with audit has been extended and secondly, more time has been given for filling Form 10A. The Central Board of Direct Taxes (CBDT) has issued a notification saying that taxpayers who have to file income tax returns with audit, have now been given time till November 7.
The Income Tax Department has extended the deadline for filing returns for the financial year 2021-22. Under this, taxpayers who need audit report for filing returns can complete their work by November 7, 2022. Earlier its deadline was kept on October 31, which has been extended by 7 days. This is the third attempt to extend the deadline for ITR. Earlier its fixed date was 30th September, 2022 which was later extended to 7th October, then it was extended to 31st October and now the new date has become 7th November.
Why extended the last date
The CBDT, while extending its deadline for the first time, had said that many taxpayers have spoken of difficulty in filing the return for the assessment year 2022-23. Therefore, its last date is extended from 30 September to 7 October. However, after this, the CBDT has not given any reason for increasing the deadline.
What are audit ITR
Income tax returns that require review of accounts, receipts and invoices and this work has to be done by a professional or CA, those returns are kept in the category of audit ITR. Such taxpayers have to get their balance sheet and profit and loss accounts checked so that the correct details can be provided to the Income Tax Department.
Form 10A will be able to be filled by November 25
CBDT has said that the deadline for filling Form 10A has also been extended to November 25, 2022. Earlier it was to be filled electronically only by 30 September. CBDT said, keeping in view the needs of the taxpayers, the last date for filing Form 10A is extended.
What is Form 10A
This new Form 10A of the Income Tax Department is used by such trusts and institutions who are newly established and are applying for registration under section 12A for the first time. Apart from this, the trusts or institutions which have been functioning for several years, but have not registered themselves under section 12A, will also be required to fill Form 10A.
