Taxpayers have until October 31, 2025, to file their tax audit reports and Income Tax Returns for Financial Year 2024-25.
Vanshika verma | Oct 29, 2025 |
Don’t Miss the Tax Audit Deadline: Only Two Days Left to File!
People whose accounts have to be audited, such as companies, proprietors, and working partners in firms, have only two days left, until October 31, 2025, to file their Income Tax Returns (ITR) for financial year 2024-25 (assessment year 2025-26).
However, the central board of direct taxes (CBDT) on September 25 had extended the deadline to submit tax audit reports (TARs) from September 30 till October 31, 2025.
If a taxpayer fails to file the tax audit report within the prescribed deadline under Section 44AB of the Income Tax Act, 1961 they may attract a penalty equal to 0.05% of total sales, turnover or gross receipts, subject to a maximum of Rs. 150,000 under section 271B of the Income Tax Act.
The penalty can be cancelled under section 273B if the delay happened for a good reason, like technical problems or unavoidable situations.
If a taxpayer has international transactions or certain specific domestic transactions, they must file a report under Section 92E.
In such cases, the last date to file the Income Tax Return (ITR) is November 30, 2025. Taxpayers must submit their audit reports by October 31, 2025 because, the government has not given any update about extending this deadline.
Jain added that the deadline for filing the tax audit report is fixed by law usually September 30 or October 31 if covered by a transfer-pricing report, depending on the Assessee type and only the Central Board of Direct Taxes (CBDT) has the authority to extend it through an official notification or circular usually in cases of issues such as technical glitches or natural calamities.
He concluded, “Therefore, unless the CBDT announces a blanket extension, taxpayers must adhere to the prescribed deadline, as there’s no provision for individual or case-specific extensions.”
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