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For the tax audit report (TAR), CBDT has extended the last date to November 10, 2025, and the income tax filing return (ITR) to December 10, 2025, for specified tax audit cases. Specific classes of taxpayers are skipped by the income tax department from this extension, which implies that those excluded will still need to […]
The Gujarat High Court, in an order, has cited that the specified date for providing a tax audit report u/s 44AB of the Income Tax Act, 1961, and the “due date” for filing the income return u/s 139(1) are pertinent to each other and should be treated together. To extend the audit report due date, […]
The Central Board of Direct Taxes (CBDT) has announced an extension for the submission of various audit reports required under the IT Act, 1961, for the Assessment Year 2025-26. The new deadline for filing tax audit reports has been moved from the previous date of September 30, 2025, to October 31, 2025. In response to […]
The All India Federation of Tax Practitioners (AIFTP) has asked the Central Board of Direct Taxes (CBDT) to extend the 2025-26 deadlines for income tax return and tax audit report filings, citing ongoing challenges for taxpayers. AIFTP President Samir Jani has sent a formal request to the CBDT chairman, detailing the difficulties caused by natural […]
The Bhilwara Tax Bar has filed a case in the Rajasthan High Court, invoking Article 226 of the Constitution. The petition requests an extension to the September 30 deadline for submitting Tax Audit Reports (TAR) for the assessment year 2025-26. This move highlights the association’s efforts to seek more time for compliance with tax regulations. […]
Businesses in India should be required to undergo audits so as to ensure that they are following the financial laws and regulations. Companies and professionals every year would be required to file their financial details in particular formats, like the Tax Audit Report. The same procedure involves intricacy since it deals with lengthy documents and […]
In a submission before the Parliamentary Committee examining the draft of the new Income Tax Bill, experts and stakeholders have recommended that the definition of “accountant” u/s 288 of the Income Tax Act be left unchanged. The focus was placed on preserving the right of Chartered Accountants (CAs) to conduct tax audits under section 44AB. […]
Income Tax Appellate Tribunal (ITAT), Bangalore in a case where the appeal of the taxpayer was permitted by considering the Medical Certificate as adequate evidence for condonation of taxpayer’s filing delay of the audit report. The appellant Home of Peoples Empowerment Foundation has submitted an appeal against the impugned order of the income tax officer. […]
On Friday (May 17) the Supreme Court kept a rule issued by the Institute of Chartered Accountants Of India (ICAA) restricting Chartered Accountants from accepting more than the “specified number of tax audit assignments” (at present, the upper limit is set at 60) in a fiscal year. A bench of Justices BV Nagarathna and Augustine […]
