In a significant relief for taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has extended the due dates for filing essential financial documents. This extension offers individuals and organizations more time to ensure accurate and timely submissions.
Deadline Extension Details:
- Form 10B/Form 10BB: The due date for furnishing Audit reports in Form 10B/Form 10BB for the Financial Year 2022-23, originally set at September 30, 2023, has now been extended to October 31, 2023. This extension grants auditors and organizations an additional month to complete and submit these critical reports.
- Form ITR-7: For the Assessment Year 2023-24, the due date for filing the Return of Income in Form ITR-7, initially scheduled for October 31, 2023, has been extended to November 30, 2023. Taxpayers now have an extra month to prepare and file their income returns.
Official Circular:
The CBDT’s decision to extend these deadlines is outlined in Circular No. 16/2023, under reference 225/177/2023/ITA-II, dated September 18, 2023. To access the full circular and gain comprehensive insights, taxpayers and professionals can visit the official CBDT website at www.incometaxindia.gov.in.
The extension of due dates for filing Form 10B/10BB and Form ITR-7 by the CBDT is a welcome move that acknowledges the challenges faced by taxpayers and professionals. This additional time will facilitate accurate submissions and contribute to a smoother assessment process for the Assessment Year 2023-24.
