Section 44AB of the Income Tax Act, 1961 deals with the audit of the accounts of a certain category of the person carrying on a business or engaged in a profession. The class of taxpayers listed under this section compulsorily have to get their accounts audited by a Chartered Accountants before the Last Date of Income Tax Audit.
A Tax Audit determines whether financial records and transactions are correctly recorded and accounted for. This ensures that the records reflect the taxpayer’s actual income and that the claims for deductions made are accurate.
Last Date of Income Tax Audit For AY 2021-22
For every year, the due date of furnishing the tax audit report is 30th September of the subsequent year. For AY 2021-22, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic, the last date of income tax audit report has been extended to 31st October 2021.
‘The CBDT vide Circular no. 09/2021: dated 20th May 2021, extended the due date of furnishing of Report of Audit under any provision of the Act for the assessment year 2021-22, from 30th September 2021 to 31st October 2021.“
|Particulars||Year||Original Due date||Extended Due date|
|Tax and Statutory Audit Report||FY 2020-21|
|30.09.2021||31st October 2021|
Tax Audit Due Date Extended Notification/Circular For AY 2021-22
Govt extends timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic. For this purpose, CBDT issued “Circular No. 09/2021: Dated 20th May 2021”, it can be viewed and downloaded from here-
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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)