Tax Alert - Government Extends Tax Return and Audit Report Filing Deadline to 31 October 2017

The due date for furnishing of tax return for taxpayers namely a company and non-corporate taxpayers, working partner of a firm whose accounts are required to be audited under the Income-tax Act (IT Act) or any other law is 30^th September following the fiscal year (April to March).

Citing extension of dates for various filings under the newly introduced Goods and Services Tax law and to allow sufficient time for compliances under various fiscal laws, the Central Board of Direct Taxes has extended the above mentioned due date from 30 September to 31 October for fiscal year 2016-17.

The announcement well in advance of the deadline is welcome. It will ease the burden on businesses grappling with multiple statutory compliances.