Due Date of Audit Extended For The FY 2018-19

Just, Income tax Department tweet that CBDT has decided to Extent the Due Date of Audit for the FY 2018-19 (AY 2019-20) till 31st October 2019. Again Big Big Relief to Professional as well as Taxpayers of the country.

Many representation have been received to CBDT to extend the due date of audit by Institute Of Chartered Accountants of India and many other Sales Tax Bar Association.

Tweet of Inome Tax India

Here, One question is raise “What the need of extention of due date?
One of the main reason is Due date of filing of TDS return. For the Month of March, Date of TDS challan deposit is 30 April, Date of Filling of TDS return of Fourth Quarter is 31 May and after that TDS Certificate given to deductee, it merely takes 15 Days to show proper TDS on 26AS.

One more Reason is frequently Change in ITR form and schemes. CBDT have much time to prepare ITR Forms and Schemes after Budget (i.e More than a year). and many other reasons.

CBDT and Ministry of Finance have to find out the solution of above mention problem.

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