Tax Deadline Extension: Relief for Corporates Amid Natural Disruptions

The Income Tax Department has extended the deadline for filing income tax returns for Assessment Year 2025-26 to December 10 for corporates and audited taxpayers. Originally set for October 31, this extension addresses disruptions caused by floods and natural calamities, offering relief to affected businesses.

The Income Tax Department announced the extension of the deadline for corporate taxpayers and those requiring audited accounts to file their income tax returns for the Assessment Year 2025-26 to December 10. This decision comes in response to widespread industry appeals.

According to tax laws, taxpayers subjected to audits were initially mandated to submit their income returns by October 31. However, considering the impact of natural disasters, including floods, the authorities have shifted the deadline to accommodate affected businesses.

The CBDT confirmed this extension, permitting audited report submissions until November 10. Previously, on September 25, the deadline for audit report submission for the 2024-25 fiscal was also extended by a month. The changes have provided immense relief to corporates grappling with unprecedented disruptions.

(With inputs from agencies.)