ITR Filing Deadline: Government grants major relief to taxpayers subject to audit; ITR can now be filed by November 21..

ITR Filing Deadline: The government has provided significant relief to taxpayers subject to tax audits. The CBDT (Central Board of Direct Taxes) has extended the deadline for filing ITRs for the Assessment Year 2026-27. Previously, the deadline was October 31, 2026; it has now been extended to November 21, 2026. This grants taxpayers an additional 21 days.

**Tax Audit Report Deadline Also Extended**

The CBDT has also extended the deadline for submitting tax audit reports. Previously, this had to be done by September 30, 2026; the new deadline is October 21, 2026. This will give taxpayers and Chartered Accountants more time to complete the audit process.

**Why Was the Deadline Extended?**

Several CA associations and tax professionals had requested an extension. They argued that completing the audit takes considerable time, as various tax-related details need to be reconciled and numerous records and documents require verification. The extended deadline provides more time to complete these tasks.

**What Is Examined During the Audit?**

A tax audit involves verifying various details. Turnover and other financial data are reconciled with GST returns. Information regarding TDS and TCS is reviewed, and Form 26AS, AIS, and TIS are also checked.

Expenses, fixed assets, loans, and statutory dues are examined. Transactions with related parties and other essential information are also reviewed. Any discrepancies found may need to be rectified before the audit report is finalized.

**What Should Taxpayers Do Now?**

The deadline has been extended, but this does not mean the work should be postponed until the last minute. Individuals subject to a tax audit should provide the necessary documents to their Chartered Accountant (CA). Records such as books of accounts, bank statements, invoices, GST records, and TDS details should be kept up to date. Additionally, one should review the AIS, TIS, and Form 26AS; any discrepancies or mismatches found in these documents should be rectified in a timely manner.

Don't forget these steps before filing your ITR.

After the CA uploads the tax audit report, the taxpayer is required to accept or approve it through their income tax e-filing account.

Therefore, do not simply wait for the CA to upload the report; ensure you set aside time for the approval process as well. Avoid leaving the task until the last day. According to the revised deadlines, the tax audit report must be filed by October 21, and the ITR must be filed by November 21, 2026.

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