The extended deadline for furnishing tax audit reports for assessment year 2026-27 ended on October 21, for the specified category of taxpayers.
The Central Board of Direct Taxes (CBDT) had extended the deadline from September 30, following which the income-tax return filing deadline for the same category was moved from October 31 to November 21.
Taxpayers who have not furnished their audit reports by the revised deadline should contact their chartered accountant and complete the pending compliance at the earliest.
Can you face a penalty for missing the deadline?
Yes. Under Section 271B of the Income-tax Act, 1961, failure to get accounts audited or obtain the prescribed audit report can attract a penalty, subject to the conditions specified in the law. Section 273B provides relief where the taxpayer establishes a reasonable cause for the failure.
The penalty is not necessarily automatic. Its applicability depends on the circumstances and the relevant statutory provisions.
Can the government extend the deadline again?
A further extension would require an official government order or notification. Taxpayers should not assume that the deadline has been extended merely because professional associations have requested additional time.
Does the November 21 ITR deadline mean the audit report can also be filed then?
No. The two are separate deadlines. For the specified taxpayers covered by the CBDT’s extension, the audit report was due on October 21, while the income-tax return is due on November 21. The later ITR deadline does not, by itself, extend the audit-report deadline.