The deadline for submitting income tax audit reports using Form 10B/10BB has been extended for certain taxpayers. The new deadline for this category of taxpayers to submit their tax audit reports is November 10, 2024. This extension was announced by the Ministry of Finance through the Central Board of Direct Taxes (CBDT) in an order dated October 7, 2024.

Which taxpayers will enjoy the extended deadline to submit tax audit report

According to the order by the Ministry of Finance, these taxpayers will benefit from this extended deadline:

Trusts, institutions, funds, and

Others who are liable to file a tax audit report using Form 10B/10BB.

Individuals with business or professional income who are subject to a tax audit under section 44AB need to submit their audit report using Form 3CD, 3CA, and 3CB. The extended deadline for these taxpayers was October 7, 2024.

....It has been brought to the notice of the CBDT that in some cases, such trusts/institutions/funds, could not file the audit report in the correct prescribed form….., the CBDT in exercise of the powers conferred under section 119 of the Act, hereby further allows such trusts / institutions/ funds to furnish such audit report in the applicable Form No. 1OB / 10BB on or before 10 November, 2024," said CBDT in the said order under section 119.