CBDT Extends deadline: According to the Income Tax Department, till September, about 6.98 crore taxpayers have filed ITR. Now giving relief to big taxpayers i.e. institutions and trusts, CBDT has extended some tax related deadlines by one month.
Giving relief to taxpayers, the Income Tax Department has extended the deadline for filing audit reports including ITR-7 filing. This decision will provide relief to a large number of big taxpayers, trusts, institutions and hospitals. Let us tell you that till September, about 6.98 crore taxpayers have filed ITR.
Deadline for filing audit report extended by one month
The Central Board of Indirect Taxes (CBDT) on September 18 announced extension of the deadline for filing audit reports for trusts, educational institutions and hospitals for the financial year 2022-23 to October 30 from the earlier September 30. CBDT said in its circular that the due date for submission of audit report in Form 10B/Form 10BB for the financial year 2022-23, which is 30 September 2023, has now been extended to 31 October 2023.
Trusts and institutions got relief
Form 10B pertains to charitable institutions and religious trusts operating under section 12AB of the Income Tax Act, while Form 10BB is required to be filled by educational institutions and medical institutions operating under section 10(23C) of the law.
Last date for submitting ITR-7 extended till 30th November
CBDT has also extended the due date for filing return of income in Form ITR-7 for assessment year 2023-24 from 30 October to 30 November 2023. Let us tell you that ITR-7 form is filled by charitable and religious trusts, political parties, scientific research institutions, universities, colleges or other institutions.
Nearly 7 crore taxpayers have filed ITR
According to the Income Tax Department, till September, about 6.98 crore taxpayers have filed ITR. Out of these, refund has also been issued to about 3 crore taxpayers. Taxpayers who have not been able to file ITR by July 31 have been given the opportunity to file belated ITR till December.
