look news india
income tax The department has extended the date for filing the audit report for 2023-24 by 7 days to October 7. Taxpayers were facing difficulties in electronic filing of various audit reports under the Income Tax Act, the Income Tax Department said in a notification. In view of this, the deadline for the audit report is being extended from 30 September to 7 October.
Rajat Mohan, executive director of accounting and consulting company Moore Singhi, cited news agency language as the reason for this expansion. He said due to technical problems in filing tax audit reports electronically, the government had to take the decision to extend the deadline by another seven days.
Otherwise you will have to pay a heavy fine
The extension of last date for filing audit report is also important because its penalty is very heavy. If you submit the audit report after the last date, you will have to pay a penalty of Rs 1.5 lakh or 0.5 percent of the total sales, whichever is lower.