Due date of e-filing of tax audit report under section 44AB extended to 30-11-2014 from 30-09-2014

In a positive move the governing body of IT department in India ” CBDT” decides to extend due date for e-filing of Tax Audit Report to 30-11-2014 from 30-09-2014.   The IT department has brought in new formats making extensive changes in the tax audit reports which are issued by the Chartered Accountants. Please note that tax professionals including Chartered Accountants had requested the Government to either extend the due date or postpone applicability of new format for tax audits to next year.

  However, this extension has a flaw, this extension only talks about tax audits whereas silent on the due of e-filing of income tax returns.  The date of tax audit report need to be put in the ITR, can we assume to file ITR without filing audit reports ? If we do that, we have to forecast the date on which we would file tax audits, which is bizarre. IT Department needs to extend due of e-filing of Tax Returns in cases where tax audit is required  The IT department has to extend the due date for e-filing of Tax returns in cases where tax audits is required. You can check the full circular here. Need help in Tax Compliance, please check here.