CBDT Extends due date for Filing ITR for AY 2024-25 for assessee covered u/s 92E

CBDT Extends Due Date for Filing Return of Income in the case of an assessee who is required to furnish a report referred to in section 92E, for AY 2024-25

The due date for furnishing the return of income u/s 139(1) of the Income-tax Act,1961 (the Act) in the case of an assessee who is required to furnish a audit report under section 92E, is the 30th day of November of the assessment year i.e. 30.11.2024 for the AY 2024-25.

Section 92E provides that every person who has entered into an international transaction or specified domestic transaction during a previous year shall obtain a report from an accountant and furnish such report on or before the specified date in the prescribed form duly signed and verified in the prescribed manner by a Chartered Accountant and setting forth such particulars as may be prescribed

The CBDT has issued Circular No. 18/2024 dated 30.11.2024 by which the due date, originally set as 30th November, 2024 for assessees covered under clause (aa) of Explanation 2 to sub-Section (1) of Section 139, has now been extended to 15th December, 2024.

• Form 26 to replace Form 3CD of tax audit report by a CA from Tax Year 2026-27
• When no addition is made on the basis of reasons recorded, reopening is bad in law
• No separate compensation for loss of love and affection under MV Act – SC
• Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G
• Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court