Deadline for companies to file ITR extended, returns can be filed by November 7
Last month, the CBDT extended the deadline for filing audit reports by seven days to October 7, after which it has now extended the deadline for returns.
Deadline for companies to file ITR extended
Finance Ministry for the assessment year 2022-23 by the companies income tax return The deadline for filing ITR was extended on Wednesday to November 7. For companies that are required to get their accounts audited, the last date for filing ITR was earlier October 31. The Central Board of Direct Taxes (CBDT) said in a notification that since the deadline for filing audit reports was extended last month, the deadline for filing ITR has also been extended.
What is the decision of CBDT
The CBDT said, the date for furnishing the return of income under sub-section (1) of section 139 of the Act for the assessment year 2022-23 has been extended. Earlier it was 31 October. This has now been increased to November 7, 2022. Domestic companies are required to file their income tax returns for the financial year 2021-2022 by October 31, 2022. The due date for filing ITR will be November 30, 2022 for companies whose transfer pricing is under process.
companies will get relief
Om Rajpurohit, director (company and international taxes), AMRG & Associates, said the extension in the deadline would provide much-needed relief during the festive season. After the festive season, now companies will be able to easily deal with the work related to returns. Last month, the CBDT extended the deadline for filing audit reports by seven days to October 7.