Due date for filing IT returns for 2014-15 extended to Nov-30 in specified cases
Updated: Sep 27, 2014 01:24:55pm
New Delhi, Sept 27 (KNN) Central Board of Direct Taxes has extended the due date for businessmen and professionals who are required to submit tax audit report, from September-30 to November-30, 2014.
“In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board…has extended the `due-date’ for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15…in the case of an assessee, who is required… to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act,” an official release said.
A businessman is liable to get his tax audit done and submit a report if in the previous year his turn over exceeds Rs one crore or a professional whose gross receipts exceed Rs 25 lakh, as per section 44AB of the IT Act.
The Central Board of Direct Taxes vide order dated 20th August, 2014 extended the due date for obtaining and furnishing of Tax Audit Report under section 44AB of the Act for Assessment Year 2014-15 from 30th September, 2014 to 30th November, 2014. Subsequently, a number of representations were received in the Board requesting for extension of the due date for furnishing of return of income also. Writ petitions were also filed in various High Courts for directing the Board to extend the due date for furnishing of return of income from 30th September, 2014 to 30th November, 2014 in conformity with the extension of the due date for filing of Tax Audit Report, the release said.
The Gujarat High Court vide judgement dated 22.09.2014 directed the Board to extend the due date for furnishing the return of income to 30th November, 2014, except for the purposes of charging of interest under section 234A of the Act for late filing of return of income. Other High Courts also directed the Board to look into the practical difficulties of the petitioners and take a just and proper decision in this matter.
In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board…has extended the `due-date.’
The extension will not apply to assessees who are not required to obtain tax audit report. For them the last date for filing IT returns was July-31. (KNN/ES)
“In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board…has extended the `due-date’ for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15…in the case of an assessee, who is required… to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act,” an official release said.
A businessman is liable to get his tax audit done and submit a report if in the previous year his turn over exceeds Rs one crore or a professional whose gross receipts exceed Rs 25 lakh, as per section 44AB of the IT Act.
The Central Board of Direct Taxes vide order dated 20th August, 2014 extended the due date for obtaining and furnishing of Tax Audit Report under section 44AB of the Act for Assessment Year 2014-15 from 30th September, 2014 to 30th November, 2014. Subsequently, a number of representations were received in the Board requesting for extension of the due date for furnishing of return of income also. Writ petitions were also filed in various High Courts for directing the Board to extend the due date for furnishing of return of income from 30th September, 2014 to 30th November, 2014 in conformity with the extension of the due date for filing of Tax Audit Report, the release said.
The Gujarat High Court vide judgement dated 22.09.2014 directed the Board to extend the due date for furnishing the return of income to 30th November, 2014, except for the purposes of charging of interest under section 234A of the Act for late filing of return of income. Other High Courts also directed the Board to look into the practical difficulties of the petitioners and take a just and proper decision in this matter.
In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board…has extended the `due-date.’
The extension will not apply to assessees who are not required to obtain tax audit report. For them the last date for filing IT returns was July-31. (KNN/ES)
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