NEW DELHI, Oct 26: The Income Tax Department has extended the deadline for corporates to file their income tax returns for the assessment year 2024-25 by 15 days, moving it to November 15. This extension shifts the original deadline from October 31, as announced in a circular by the Central Board of Direct Taxes (CBDT).
However, experts caution that this extension does not apply to the Tax Audit Report, transfer pricing certification in Form 3CEB, and other related income tax forms such as Form 10DA, which must still be submitted by the October 31 deadline.
Sandeep Jhunjhunwala, a Tax Partner at Nangia Andersen LLP, noted that while the extension will help corporates, certain essential submissions remain due at the original date. Rajat Mohan, Senior Partner at AMRG & Associates, highlighted that the CBDT’s decision may be aimed at easing the filing process during the festive season. “This extension allows taxpayers and professionals to focus on accuracy and compliance without the pressure of last-minute filings amidst celebrations,” he remarked.
Jhunjhunwala added that the targeted extension is designed to facilitate compliance during a busy period while ensuring the timely submission of critical audit documentation. Earlier in September, the CBDT had already extended the deadline for filing tax audit reports by a week to October 7.
