Extension of time limit for tax audit
Arumugam (Proprietor) (25 Points)
10 September 2016
Is it true time has been extended till 16/10/16 for tax audit report filing?
ACA Anurag
(Enjoy the little things)
(14706 Points)
Replied 10 September 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 10 September 2016
Vide F.NO. 225/195/2016-1TA-II dated 9th sept 2016::
Due Date of furnishing returns of income extended from 30th September to 17th October.
YES ::There is no clarity about tax audit due date extension. But if we read Explanation 2 of Section 139 Sub-section 1:
“In this sub-section, “due date” means,—
(a) where the assessee other than an assessee referred to in clause (aa) is—
(i) a company; or
(ii) a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; or
(iii) a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force,
the 30th day of September of the assessment year;”
and section 44AB:
(ii) “specified date”, in relation to the accounts of the assessee of the previous year relevant to an assessment year, means the due date for furnishing the return of income under sub-section (1) of section 139.
It can be said, due date of Tax Audit has also been increased to 17th October, but clarity required by CBDT.
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