CBDT issues notification of tolerance range for transfer pricing for AY 2024-25
A Notification dated October 18 was released notifying the tolerance range for AY 2024-25.
The Central Board of Direct Taxes (CBDT) on Wednesday extended the due date for furnishing income tax returns for the assessment year 2022-23 to November 7 for certain categories of assessees. The earlier due date was October 31.
The extension was given as the extra time of up to October 7 was granted for filing various audit reports in the case of these entities, a circular issued by the CBDT said.
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The extension is applicable to those entities and persons as well as partners of firms whose books of accounts need to be audited.
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“CBDT extends the due date for furnishing Income Tax Return for AY 2022-23 to 7th November 2022 for certain categories of assessees in consequence of the extension of due dates for filing various reports of the audit. Circular No. 20/2022 dated 26.10.2022 issued,” tweeted Income Tax India.
CBDT extends the due date for furnishing Income Tax Return for AY 2022-23 to 7th November, 2022 for certain categories of assessees in consequence of extension of due dates for filing various reports of audit. Circular No. 20/2022 dated 26.10.2022 issued.https://t.co/x9yhpL0d1T pic.twitter.com/T4LbT9Qy4K
— Income Tax India (@IncomeTaxIndia) October 26, 2022
“In consequence to extension of due date for various reports of audit in the case of assessees referred in clause (a) of Explanation 2 to sub-section (I) of section 139 of the Act to 07th October 2022 by Circular No. 19/2022 dated 30.09.2022, Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Income-tax Act,1961 (Act), extends the due
date of furnishing of Return of Income under sub-section (1) of section 139 of the Act for the Assessment Year 2022-23, which is 31 st October 2022 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (I) of section 139 of the Act, to 07th November 2022,” Ministry of Finance said in its circular which was issued on Wednesday.
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