The Income Tax Department on Monday extended the deadlines for corporate income tax returns and tax audit reports by 21 days for assessment year 2026-27. Corporates will now have until November 21 to file their income tax returns, against the earlier October 31 deadline.
The deadline for submitting tax audit reports has moved from September 30 to October 21, the Central Board of Direct Taxes (CBDT) said in a statement. The decision follows demands from tax practitioners, who had flagged a compressed audit window after the August 31 deadline for filing returns in non-audit cases.
Sumeet Hemkar, Partner, Deloitte, said the industry had made extensive representations because businesses needed time for sizeable reconciliations between income tax data, GST records and accounting information to ensure accurate filings.
“The extension in tax audit and tax return filing due dates for taxpayers subject to tax audit but not subject to transfer pricing, is a welcome relief,” he said.
Hemkar said September’s multiple filing deadlines, combined with festival holidays and banking disruptions, had made it harder for taxpayers and professionals to manage the workload. “The pushing out of the due dates should provide relief without materially impacting the exchequer,” he added.
Amit Agarwal, senior partner at Nangia & Co LLP, told PTI that the extension showed that the CBDT had recognised the challenges facing taxpayers and tax professionals during the current compliance cycle.
“The additional 21 days will provide much-needed breathing space to businesses to complete their tax audits, undertake necessary reconciliations and ensure that the information reported in the tax return is accurate and appropriately supported,” Agarwal said.
For salaried taxpayers, the ITR filing deadline was July 31. Those with income from business or profession whose accounts do not require an audit had an August 31 deadline.
The department had earlier said that more than 7.8 crore returns were filed for assessment year 2026-27 by August 31, a record.