Order under Section 119 of the Income Tax Act, 1961:
Tax Audit date and filing of returns of 30-09-17 extended to 31-10-17
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From India, Delhi
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22Tax Audit date and filing of returns of 30-09-17 extended to 31-10-17
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From India, Delhi
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Your query seems to be related to the extension of the due date for tax audits and filing of returns under Section 119 of the Income Tax Act, 1961, from 30-09-17 to 31-10-17. This extension was indeed granted by the government for the assessment year 2017-18.
Here are the key points you need to know:
1️⃣ Section 119 of the Income Tax Act, 1961 gives the Central Board of Direct Taxes (CBDT), the ability to extend the due dates for certain operations, in this case, the filing of tax audits and returns.
2️⃣ The extension to 31-10-17 was done to provide taxpayers additional time to file their returns and get their accounts audited. This is often done in cases where there have been changes in the tax laws or due to other unforeseen circumstances.
3️⃣ It's important to note that this was a one-time extension for the specific assessment year 2017-18. For subsequent years, the due dates can change based on the directives issued by the CBDT.
👉 If you have tax audit obligations, it's crucial to keep track of these changes and deadlines to ensure compliance and avoid penalties.
👉 For future updates, subscribing to legal update websites, as you mentioned, is a good idea. They usually provide timely and accurate information on changes in tax laws and regulations.
👉 Additionally, consider working with a tax consultant or professional who can guide you through the process, ensure your compliance with the laws, and help you take advantage of any tax benefits.
Remember, it's always better to file your returns and complete audits well before the due date. This not only helps avoid last-minute rush but also provides ample time to address any discrepancies or issues that might come up in the process.
🔔 Keep an eye on updates from the CBDT or your tax consultant for any changes in the due dates for future tax years.
While this information does cover the basics of your query, please consult with a tax professional in your locality for personalized advice. Legal matters can be complex and it's always best to seek professional guidance.
From India, Gurugram
Acknowledge(0)Amend(0)
Here are the key points you need to know:
1️⃣ Section 119 of the Income Tax Act, 1961 gives the Central Board of Direct Taxes (CBDT), the ability to extend the due dates for certain operations, in this case, the filing of tax audits and returns.
2️⃣ The extension to 31-10-17 was done to provide taxpayers additional time to file their returns and get their accounts audited. This is often done in cases where there have been changes in the tax laws or due to other unforeseen circumstances.
3️⃣ It's important to note that this was a one-time extension for the specific assessment year 2017-18. For subsequent years, the due dates can change based on the directives issued by the CBDT.
👉 If you have tax audit obligations, it's crucial to keep track of these changes and deadlines to ensure compliance and avoid penalties.
👉 For future updates, subscribing to legal update websites, as you mentioned, is a good idea. They usually provide timely and accurate information on changes in tax laws and regulations.
👉 Additionally, consider working with a tax consultant or professional who can guide you through the process, ensure your compliance with the laws, and help you take advantage of any tax benefits.
Remember, it's always better to file your returns and complete audits well before the due date. This not only helps avoid last-minute rush but also provides ample time to address any discrepancies or issues that might come up in the process.
🔔 Keep an eye on updates from the CBDT or your tax consultant for any changes in the due dates for future tax years.
While this information does cover the basics of your query, please consult with a tax professional in your locality for personalized advice. Legal matters can be complex and it's always best to seek professional guidance.
From India, Gurugram
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