The Institute of Chartered Accountants of India (ICAI), a statutory body established under an Act of Parliament in 1949, has formally requested an extension of the tax audit report filing deadline for the Financial Year 2024-25 (Assessment Year 2025-26). In a letter addressed to Hon'ble Finance Minister Smt. Nirmala Sitharaman, the Central India Regional Council (CIRC) of ICAI highlighted the pressing need for relief, proposing a new deadline of 31st December 2025. This move comes as taxpayers, professionals and other stakeholders grapple with complex reporting requirements and operational hurdles.
Current Deadline and Recent Relaxation
The existing due date for filing tax audit reports is currently set for 30th September 2025. While a recent extension of the Income Tax Return (ITR) filing deadline to 15th September 2025 has been welcomed, CIRC emphasizes that this alone is insufficient. The extension has created a staggered release of ITR forms, benefiting significant workflow pressures on tax professionals and taxpayers alike. However, persistent technical and systemic bottlenecks on the Income Tax e-filing portal continue to impede timely submissions.
Overlapping Obligations Create Pressure
The compliance calendar from July to October is particularly crowded, with taxpayers juggling multiple obligations. These include GST filings, company law requirements such as annual returns and financial statement filings with the Ministry of Corporate Affairs (MCA), and other sector-specific regulatory submissions. This overlap has led to practical difficulties in completing tax audits accurately and within the prescribed timeline, prompting ICAI’s call for further leniency.
Why the Extension is Crucial
CIRC’s letter underscores the operational challenges faced by professionals and taxpayers, including the need for accurate data compilation and the time-intensive nature of tax audits. The proposed extension to 31st December 2025 aims to provide a more feasible window, enabling efficient and accurate compliance with statutory requirements. This request reflects ICAI’s commitment to supporting its members and the broader taxpayer community in navigating an increasingly complex regulatory landscape.
A Plea for Smooth Tax Administration
Signed by CA. Ankur Kumar Gupta, Chairman of CIRC, and CA. Jayendra Kumar Tiwary, Secretary of CIRC, the letter expresses hope for the Finance Minister’s kind consideration. The extension, if approved, could streamline tax administration and enhance compliance across the country, aligning with ICAI’s mandate to regulate the profession of Chartered Accountancy.
Taxpayers and professionals are keenly awaiting the government’s response, as this decision could significantly alleviate the current pressure and set a precedent for future compliance deadlines. Stay tuned for updates on this developing story.
Official copy of the letter addressed to FM Sitharaman by CIRC, ICAI is as follows
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