Mon Sep 30 14:20:09 UTC 2024: ## Tax Audit Deadline Extended by a Week Due to E-Filing Issues
**New Delhi, October 1, 2024** – The Central Board of Direct Taxes (CBDT) has extended the deadline for submitting income tax audit reports for the Assessment Year 2024-25 by seven days to October 7, 2024. The extension, announced on September 29, comes after numerous taxpayers reported difficulties uploading their reports due to technical issues on the e-filing portal.
The original deadline was set for September 30, but the CBDT cited “sluggishness” and “problems” on the e-filing platform as the reason for the extension. The extension applies to all taxpayers, including individuals, companies, and other assessees whose income tax returns are due by October 31, 2024, and who were initially required to file a tax audit report by September 30.
While this provides some relief to taxpayers, it’s important to note that penalties still apply for submitting reports after October 7. Failure to comply could result in a fine of ₹1.5 lakh or 0.5 percent of total sales, whichever is lower. Additionally, late submissions may lead to income tax returns being marked as defective.
The CBDT, exercising its authority under Section 119 of the Income Tax Act, made this decision to ensure a smoother filing experience for all taxpayers. They have urged individuals to take advantage of this extension and complete their tax audit reports before the new deadline.
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