FinMin extends ITR deadline for firms until November 7

The Central Board of Direct Taxes (CBDT) on Wednesday prolonged the due date for submitting returns of earnings (ITR) by companies by seven days to November 7.

The final date for submitting a return of earnings by firms whose accounts are required to be audited was October 31.

“In consequence of the extension of due date for various reports of audit in the case of assessees to 7th October… the CBDT extends the due date of furnishing of Return of Income under sub-section (1) of section 139 of the Act for the Assessment Year 2022-23, which is 31st October 2022 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (I) of section 139 of the Act, to 7th November 2022,” it mentioned.

Last month, the CBDT prolonged the deadline for submitting audit reviews by 7 days until October 7.

The due date for the return submitting of home firms for 2021-22 was October 31. However, if the corporate was having any worldwide transactions, the due date to file ITR is November 30, 2022.