The Central Board of Direct Taxes (CBDT) has extended the due date of furnishing of return of income for the Assessment Year 2022-23, the Union Ministry of Finance.
The CBDT had extended the due date to November 7, 2022 for the Assessment Year 2022-23 for the category of assessees for whom the due date falls on October 31, 2022, under sub-Section (1) of Section 139 of the Income-Tax Act, 1961 (the Act).
“In consequence to extension of due date for various reports of audit in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act to Or October 2022 by Circular No.19/2022 dated 30.09.2022, Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Income-tax Act,1961 (Act), extends the due date of furnishing of Return of Income under sub-section (1) of section 139 of the Act for the Assessment Year 2022-23, which is 31st October 2022 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07th November 2022,” the Board said.
An official order showed that CBDT extended the due date for filing tax returns by certain taxpayers including companies for the assessment year 2022-23 by a week.
The extension of the due date is applicable to entities including companies, persons whose books of accounts need to be audited and a partner of a firm whose accounts need to be audited. CBDT said that the extension of the due date by a week was made because extra time of up to 7 October was granted for filing various audit reports in the case of these entities.
The due date for filing personal income tax returns was over by the end of July, without any extension. The due date for filing tax returns by companies that are required to file transfer pricing reports is the end of November.
