Extension of deadline for income tax filing..!? For Whom..?

Sowmiya Sriram
Extension of deadline for income tax filing..!? For Whom..?

The Union Finance Ministry on wednesday officially announced that the deadline for filing income tax returns for the year 2022-23 by companies has been extended till november 7. The last date for companies to file ITR is october 31. In a notification issued by the Central Board of Direct Taxes (CBDT), the body that administers income and corporate tax matters, it explained last month that as the deadline for filing audit reports was extended. It is said that the deadline for filing ITR has been extended.
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income returns for the assessment year 2022-23 under sub-section (1) of Section 139 of the Income Tax Act from october 31, 2022, to november 7, 2022, my CBDT notification said.
Domestic companies are required to file income tax returns for the financial year 2021-2022 by october 31, 2022. Till november 30, 2022 there is due date for filing ITR.
Om Rajpurohit, the director, of corporate and international tax at AMRG & Associates, said the extension of the deadline for business entities to file income tax returns for the year 2022-23 till november 7 is essential during the festive season. has This will help prevent future discrepancies in taxation, he said.
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