Thu Sep 25 23:20:00 UTC 2025: Okay, here’s a news article based on the provided text:
**Headline: Income Tax Audit Deadline Extended to October 31, 2025**
**New Delhi:** The Central Board of Direct Taxes (CBDT) has announced an extension to the deadline for filing income tax audit reports for the financial year 2024-25. Taxpayers now have until October 31, 2025, to submit their audit reports, a one-month extension from the original deadline of September 30.
The decision comes following representations from various professional associations, including Chartered Accountant bodies, who cited disruptions caused by recent floods and natural disasters in several parts of the country. These disruptions have reportedly hampered the timely preparation and filing of audit reports.
“The CBDT has taken cognizance of the difficulties faced by taxpayers and professionals due to the unforeseen circumstances and decided to provide this extension,” stated an official circular released by the Income Tax Department on Thursday.
Taxpayers required to undergo an income tax audit are advised to take note of the new deadline. Failure to comply by October 31, 2025, will attract penalties under Section 271B of the Income Tax Act. While the Act stipulates potential penalties for non-compliance, the CBDT has clarified that penalties may not be levied if there is a “reasonable cause” for the delay.
An income tax audit involves a Chartered Accountant auditing various account documents to ensure compliance with tax regulations. While salaried individuals generally don’t require tax audits, it becomes applicable if they have income from other sources, such as professional fees exceeding ₹50 lakhs or business income surpassing ₹1 crore.
Taxpayers are urged to consult with qualified tax professionals and refer to the official website of the Income Tax Department for accurate and updated guidance on their tax obligations. This extension is intended to provide relief and ensure smooth compliance for all affected parties.
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