New Delhi: The Central Board of Direct Taxes (CBDT) has extended compliance deadlines for taxpayers subject to audit for assessment year 2026-27, giving them time to complete filings.
The income tax return deadline has moved from October 31 to November 21. The deadline for furnishing tax audit reports has also been extended from September 30 to October 21, according to an official statement issued on Monday.
Deadline Relief
The revised dates apply to persons subject to audit under the Income-tax Act, 1961. The statement said a formal notification announcing the changes was being issued separately.
The decision follows growing demands from chartered accountant associations and tax professionals for more time. Several groups had sought an extension of the audit deadline to October 31.
Professionals flagged the time needed to complete audit procedures, check disclosures and reconcile information across tax and financial records.
More Filing Time
The extension gives taxpayers and auditors additional time to finalise audits and submit reports through the income tax e-filing portal.
It is also expected to ease compliance pressures and facilitate the ease of doing business. Taxpayers covered by the announcement now have separate revised dates for submitting audit reports and filing their returns.
Direct Taxes Rise
Meanwhile, net direct tax collections rose 13 per cent to more than Rs 12.12 lakh crore between April 1 and September 17 of the current financial year, official data showed.
Gross collections increased over 15 per cent from a year earlier to Rs 14.3 lakh crore.
Corporate tax collections climbed 19.48 per cent to about Rs 5.56 lakh crore. Collections from personal income tax and Hindu undivided families rose 6 per cent to over Rs 6.16 lakh crore.
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Securities Transaction Tax collections surged 53 per cent to Rs 40,214 crore.
Refunds increased by more than 29 per cent to exceed Rs 2.2 lakh crore during the same period.
