As per our tax laws, certain taxpayers are mandatorily requried to conduct audit under section 44AB of the Income tax act, 1961. These are in general referred to as tax audit. If you are liable to get your accounts audited under section 44AB, then you need to contact a practicing chartered accountant.
In this article, we will be discusing the last date of submitting tax audit report and income tax return.
What is the last date of filing tax audit report?
A person who is required to get its accounts audited under section 44AB by a chartered accountant in practice, is required to obtain tax audit report on or before 30th September of the relevant assessment year.
For example, if you are required to get your accounts audited under section 44AB for the financial year 2022-23, then you should get the tax audit done by 30th September 2023. Get it done means, you should make sure that it has been uploaded in the income tax portal by your chartered accountant and accepted from your end in the same portal by the same date.
What is the deadline for income tax return filing with audit report?
Audit report filing and income tax filing due dates are different.
As per our present tax laws, different categories of taxpayers have different due dates to file income tax return.
The due date for filing the Income tax return for taxpayers who are required to get their accounts audited as per Section 44AB is 31st october of the relevant assessment year.
For example, if your accounts are audited under section 44AB for the financial year 2022-23, then you must get your books of account audited by 30th September 2023, and file your income tax return along with the audit report by 31st October 2023.
This means, if you are liable to get your accounts audited under section 44AB, then you need to remember 2 impoartant dates;
- the tax audit report submission date is 30th September, and
- the income tax return filing due date along with tax audit report is 31st October.
Please note, as per the law, only a practicing chartered accountant can do tax audit under section 44AB of the Income tax act, 1961. The audit report is required to be e-filed by the appointed chartered accountant.
After e-filing by the Charterd Accountant, the taxpayer has to approve the report from the IT efiling portal by using his own login ID and password. The audit report will be considered as filed successfully on or before the date after getting it accepted or approved by the taxpayer in the IT portal.
