The Due Date of income tax return filing has been extended to 31st October, for Income Tax Returns which were due on 30th September (cases where audit is applicable).
Here is the press release from CBDT in this regard –
Subject: Extension of date for filing of Income tax returns and tax audit reports to 31st October 2015 – regarding
The issue of extension of last date for e-filing returns of income and audit reports u/s 44AB due by 30th September, 2015 has been the subject matter of litigation in various High Courts across the country. While some High Courts have ruled in favour of the extension of due date, some others have ruled otherwise. In order to avoid discrimination between taxpayers residing in different jurisdictions and to be fair to all, and also in view of paucity of time to approach the Hon’ble Supreme Court by way of Special Leave Petition, the Government has decided that across the country, all the returns of income and audit reports u/s 44AB which were due for e-filing by 30th September, 2015, may now be filed by 31st October, 2015.
Necessary order u/s 119 of the Income-tax Act, 1961 has been issued by CBDT in this regard.
Who is required to file an income tax return by 30th September?
- A Company (not having international or specified domestic transactions)
- Taxpayer (not having international or specified domestic transactions)
- Whose accounting records must be audited under any law your accounts must be audited as per the income tax act.
- Is a partner in a firm whose accounts must be audited under any law
In the cases listed above audit report under section 44AB for the assessment year 2015-16 has to be submitted account with income tax return on 30th September.
Audit Requirements
Audit of accounts is compulsory by a Chartered Accountant for the following persons
| Tax Payer | Compulsory Audit required when |
| A person carrying on Business | If total sales, turnover or gross receipts are more than Rs. 1 crore |
| A person carrying on Profession | If gross receipts are more than Rs. 25 lakhs |
| A person covered under presumptive income scheme section 44AD | If income of the business is lower than the presumptive income calculated as per Section 44AD and the person’s total income is more than the minimum income which is exempt from tax. |
| A person covered under presumptive income scheme section 44AE | If income of the business is lower than the presumptive income calculated as per Section 44AE. |