ITR filing deadline extended once again till 7 November, know to whom this was done to give relief
Income tax return alert: The government has once again given big relief to the company owners. According to the information given by the Finance Ministry on Wednesday, the government has extended the deadline for filing income tax returns (ITR) by companies for the assessment year 2022-23 to November 7. Experts say that lakhs of companies across the country will benefit from this decision. Many companies are yet to file their returns.
Deadline was ending on October 31
It is noteworthy that for companies which are required to get their accounts audited, the last date for filing ITR was earlier October 31. The Central Board of Direct Taxes (CBDT) in a notification said that since the deadline for filing audit reports was extended last month, the deadline for filing ITR has also been extended.
Relief was given earlier in the audit report also
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 extended 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. Om Rajpurohit, director (company and international taxes), AMRG & Associates, said the extension in the deadline would provide much-needed relief during the festive season. Last month, the CBDT extended the deadline for filing audit reports by seven days to October 7.
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