The due date for Tax Audit Report and Income tax return filing for assessee (being company, firm and other required to get accounts audited under income tax act or other law and working partner of such firm) for the FY 2016-17/AY 2017-18 has been extended by the CBDT to 7th November 2017. Earlier it was extended to 31st October 2017 from 30th September 2017.
FY 2015-16/AY 2016-17 (last Year)
The due date for Tax Audit and Return filing for assessee whose due date for filing income tax return was 30th September (being company, firm and other required to get accounts audited under income tax act or other law and working partner of such firm) was extended to 17th October 2016.
This order has been passed U/s 119 of income tax act, 1961 by F.NO. 225/195/2016-1TA-II dated 9th sept 2016
The normal due date of tax audit for AY 2016-17/FY 2015-16 was 30th September 2016 which is extended to 17th October 2016.
FY 2014-15/AY 2015-16
Last Year Story on Extension of Due date for Tax Audit:-
Earlier the ministry of finance has decided not to extend the due dates for persons whose accounts are required to be audited for assessment year 2015-16. These person includes companies, firms & individuals whose accounts needed to be audited under income tax act, 1961. The ministry of Finance through press information bureau has declared it on 09th September 2015.
Earlier various stakeholders had requested the Government of India to extend the due date of filing of return of income for tax audit. The reason for such request was late issue of income tax forms by the Government . The ITR NO. 3,4,5,6 and 7 was notified by government for public use on 29.07.2015. The form were finally available for use as on 7th august 2015.
It was considered that that the changes made to these forms were not so extensive.
However the due date of filing of return for assessee entering into international transaction or specified domestic transaction is same as 30th November 2015
So after considering all relevant facts the Government of India had finally decided not to extend the due date of 30th September 2015. So it is advised in the public interest to file all your income tax return within time and save yourself from last minute rush.
However, finally the various High Courts have given the decision in favor of the Extension.
EXTENSION OF DUE DATE OF TAX AUDIT BY PUNJAB AND HARYANA HIGH COURT
The Punjab and Haryana High Court has ordered the extension of date of Tax audit from 30th Sept 2015 to 31st Oct 2015. The court has also instructed the CBDT pass a order u/s 119 in this respect and also issued guidelines for timely issue of ITR forms.
The decision of High court is binding on CBDT unless supreme court gives a different verdict in favor of CBDT. However as per the latest news the CBDT has decided to go to the Supreme court against the order.
On similar ground the Gujrat High court has also directed the CBDT to extend the date.
Bombay high court in the meanwhile pointed that once the High court rules under article 226, same will be binding on all High Courts in the country. If the CBDT does not extend the date, then Bombay HC will give its decision tomorrow.
There was a fake notification going on in the social media regarding extension of date of tax audit from 30th sept 2015 to 15 oct 2015.
The CBDT in its press release has confirmed that the notification was false. Following is the press release in this regard.
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 28th September, 2015
Sub: Circulation of Fake order for extension of due date for filing of Audit report and return of Income for Assessment Year 2015-16- regarding
It has been brought to the notice of the Government that a fake order dated 26th September 2015 supposedly under section 119 of the Income-tax Act 1961 under the signature of one Upmanyu Reddy, Under Secretary to the Government of India is in circulation. The fake order extends the due date for filing of audit report under section 119 of the Income-tax Act to 15 October 2015.
It is clarified the order is fraudulent. The Government has not extended the due date for filing of returns and audit report due by 30th September 2015. Tax payer and practitioners are advised not to give any credence to the fraudulent order purportedly signed by one Upmanyu Reddy.
Pr. Commissioner of Income Tax (OSD)
Official Spokesperson, CBDT
So there is no such extension of due date for Tax Audit.