Good news for taxpayers in India: the Central Board of Direct Taxes (CBDT) just gave everyone a one-month breather on filing tax audit reports. Originally due by September 30, the deadline for Assessment Year (AY) 2025-26 now stretches to October 31. This applies to certain assessees under Section 139 of the Income-tax Act, 1961, covering the previous year 2024-25.
The move comes after chartered accountants and other professionals pushed for more time, pointing to tough conditions from floods and natural calamities across parts of the country. High Courts have even weighed in on the issue. CBDT shared the update on X, noting that a formal notification will follow soon.
Don’t worry about tech glitches—the Income-tax e-filing portal is running smoothly. As of September 24, over 402,000 tax audit reports have been uploaded, with 60,000 added that day alone. Plus, more than 75.7 million income tax returns (ITRs) were filed by September 23. Still, CBDT recognized the real-world hurdles for taxpayers and auditors, so they stepped in to lighten the load.
In other CBDT updates, the agency signed a key Memorandum of Understanding (MoU) with the Comptroller and Auditor General (CAG) of India this Tuesday. CBDT Chairman Ravi Agrawal and Deputy CAG AM Bajaj put pen to paper, with CAG K Sanjay Murthy watching on.
The deal focuses on teaming up for training, research, and capacity building in shared areas like data-driven technology. CAG officials say it will boost professional ties, close skill gaps, and drive growth between the two groups. This partnership could make tax compliance and auditing even stronger in the future.
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