Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2024 Year 2024 This

This order issued by the Central Board of Direct Taxes (CBDT) ...


Deadline extension for trusts/institutions to file audit reports in correct form for FY 2023-24.

Circulars     Income Tax

October 14, 2024

This order issued by the Central Board of Direct Taxes (CBDT) u/s 119 of the Income Tax Act, 1961, grants an extension for certain trusts/institutions/funds to furnish audit reports in the applicable Form No. 10B/10BB for the assessment year 2023-24. Previously, a circular allowed such entities to file the audit report in the incorrect form by March 31, 2024. However, some entities could not comply. To avoid genuine hardship, the CBDT now allows them to submit the audit report in the correct form on or before November 10, 2024. This extension aims to provide relief and facilitate compliance for the affected trusts/institutions/funds.

View Source

 


 

You may also like:

  1. The circular extends the due date for filing various audit reports under the Income Tax Act for the previous year 2023-24 (assessment year 2024-25) from September 30,...

  2. Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...

  3. Exemption u/s 11 - Condonation of delay in filing the audit report in Form 10B - non filing of Audit Report along with return of income is a procedural omission and...

  4. Validity of audit report u.s 65(6) of GST Act - the impugned audit report cannot be said to be after a reasonable opportunity. - The petition is allowed-in-part,...

  5. Registration u/s 12A - Rejection of petitioner's application u/s 119(2)(b) for delay in filing audit report in Form-10B. Held that petitioners are entitled to succeed....

  6. Trust filed application for final approval u/s 80G(5) on 02.08.2023, before the extended due date of 30.06.2024 prescribed by CBDT Circular No. 7/2024. Denying...

  7. Extension of time limits for submission of certain TDS/TCS Statements i.e. Form No. 26Q, 27Q and 27EQ - Date extended for the First Quarter of the FY 2023-24 to 30th...

  8. The High Court addressed the validity of a certification issued u/s 197 for FY 2023-24, where a "Nil" withholding tax certificate was sought but a 15% withholding tax...

  9. Exemption u/s.11 - Denial of exemption audit report in form 10B was not furnished along with the return of income - audit report was filed by the assessee before the...

  10. The circular mandates PCMs to include Annexure 3 in System Audits and submit information on major/minor NCs as per Annexure 4. The System Audit report, including...

  11. Filing of Cost Audit Report (Form I) and Compliance Report (Form A) in the eXtensible Business Reporting Language (XBRL) mode. - Circular

  12. Levy penalty u/s. 271B - not filing tax audit report within the due date specified under the Act - When audit report was obtained within due date, merely for delay in...

  13. Exemption u/s. 11 - claim denied as delay in filing audit report in Form 10B - the clarification in condoning the delay in filing Form 10B for A.Y. 2016-17 is binding on...

  14. Cost Inflation index for the Finance Year 2023-24 - the CBDT issued the same CII as 348 for the FY 2023-24 vide notification dated 10.4.2023 - Same has been repeated...

  15. Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

 

Quick Updates:Latest Updates