The Finance Ministry today extended the deadline for filing income tax returns by businesses for the assessment year 2022-23 till November 7.
The last date for filing Income Tax Returns (ITR) by companies that need to get their accounts audited was October 31.
The Central Board of Direct Taxes (CBDT), the decision-making body in matters of income and corporate tax, said in a notification that since it had extended the deadline for filing audit reports last month, the due date for filing ITR has also been extended. has been given.
“CBDT… extends the due date for furnishing of return of income under sub-section (1) of section 139 of the Act for the assessment year 2022-23, that is, 31st October, 2022… to 7th November, is till 2022. The CBDT notification stated.
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 that are subject to transfer pricing norms.
Om Rajpurohit, Director (Corporate and International Tax), AMRG & Associates said that the extension will provide much needed relief (while maintaining the statutory time gap of 30 days) to prevent any future discrepancies with the tax provisions during the festive season. Will do
Last month, the CBDT extended the deadline for filing audit reports by 7 days to October 7.
Om Rajpurohit said, “A comparable relief is eagerly awaited for corporate entities, which are also subject to transfer pricing regulation.”
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