TAR Filing for AY 2026-27: Loudspeaker Is On Association Urges FM to Extend Due Date to October 31:

The Loudspeaker is on Association has urged the Union Finance Minister, Nirmala Sitharaman, to extend the due date for furnishing Tax Audit Reports (TARs) for Assessment Year (AY) 2026-27 from September 30, 2026, to October 31, 2026. In a representation dated September 23, 2026, the association highlighted practical difficulties being faced by taxpayers and tax professionals due to the compressed compliance timeline.

The association appreciated the government’s decision to shift the due date for non-audit Income Tax Returns (ITRs) to August 31, 2026. However, it stated that this has left only one month, from August 31 to September 30, for completing audit-related compliances. According to the association, the limited timeframe is insufficient for carrying out detailed and accurate tax audits.

It also pointed to delays in the release of ITR forms and utilities. ITR-3 was released on June 18, ITR-5 on July 7, ITR-7 on July 9, and ITR-6 on August 4, 2026. The association said that online utilities were often made available 15 to 20 days after the forms, further reducing the time available for reconciliation and verification.

The association also cited increased compliance requirements for non-corporate taxpayers due to the detailed financial statement format implemented by the Institute of Chartered Accountants of India (ICAI). It stated that the additional disclosures require more time for verification and authentication.

The association has requested a corresponding extension for Forms 10B and 10BB and other related audit documentation. It has also sought a permanent amendment in the Union Budget 2027 to fix October 31 as the statutory due date for Tax Audit Reports (TARs) and audit-case Income Tax Returns (ITRs).