In a significant move, the Central Board of Direct Taxes (CBDT) has issued Circular No. 10/2024, extending the deadline for filing various audit reports for the Assessment Year 2024-25. The original deadline of 30th September 2024 has been extended to 7th October 2024. This extension applies to taxpayers falling under Section 139(1) Explanation 2(a) of the Income Tax Act, 1961.
Why the Extension?
The decision comes after recognizing the challenges faced by taxpayers and professionals in electronically filing audit reports. Many businesses and individuals had reported difficulties with the electronic filing systems. By extending the deadline, the CBDT ensures that stakeholders have more time to comply with the statutory requirements without facing penalties.
Key Takeaways:
- Who Benefits?
This extension benefits assessees who are required to furnish audit reports under the Income Tax Act for the financial year 2023-24. Businesses and entities requiring audits due to their income or turnover thresholds will now have additional time to file these reports. - New Deadline:
The updated deadline for submission is 7th October 2024, a week beyond the original due date.
Services We Offer at PS Tax Consultancy:
At PS Tax Consultancy in Bhubaneswar, we offer comprehensive tax-related services, ensuring that you meet all statutory deadlines and avoid penalties. Our services include:
- GST Filing & Consultancy
- EPF and ESIC Registrations
- FSSAI Registration
- MSME Registration
- Income Tax Filing
- Company Formation
- Labour Registration
- Pareshram
- Trademark Registration
- Commercial Taxes/VAT
We ensure that our clients remain compliant with the ever-evolving tax regulations. Whether you are an individual taxpayer or a business, our expert team is ready to assist you with the complexities of audit reports and other tax matters.
Contact Us:
Visit us for personalized advice at:
Address:
Plot: C 20, 2nd Floor, Near Odisha Hotel,
Saheed Nagar, Bhubaneswar – 751007
Phone:
0674 3558157, +91 94381 66091, +91 99376 83345
Email:
info@pstaxconsultancy.com
Don’t wait until the last minute – reach out to us today to ensure smooth and timely filing!
