The Central Board of Direct Taxes has recently issued Circular No. 18 of 2023 in the context of Income Tax. Dated October 20, 2023, this circular addresses the extension of the deadline for filing Income Tax reports. This decision was made under the authority of section 119 of the Income-tax Act, 1961. The circular primarily tackles the challenges faced by taxpayers and various stakeholders in meeting the prescribed deadline for submitting the accountant's report, as mandated under clause (8) of section 10AA, in conjunction with clause (5) of section 10A of the Income-tax Act, 1961.
The difficulties arose because the relevant Form 56F was notified on October 19, 2023. Recognizing these challenges, the Central Board of Direct Taxes, in exercise of its powers under section 119(2)(b) of the Income Tax Act, 1961, has taken a significant step to alleviate genuine hardship in such cases. As per the circular, the due date for filing the accountant's report has been extended. For the Assessment Year 2023-24, the deadline has been shifted from the specified date under section 44AB to December 31, 2023.
This extension is aimed at providing much-needed relief to taxpayers and other stakeholders
who were grappling with the tight timelines brought about by the delayed release of Form 56F.
F. No. 370142/40/2023-TPL
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Circular No. 18 of 2023-Income Tax | Dated: 20th October, 2023
Order under section 119 of the Income-tax Act
On consideration of difficulties arising to the taxpayers and other stakeholders in timely filing of report of accountant required to be filed under clause (8) of section 10AA read with clause (5) of section 10A of the Income -tax Act, 1961 on account of notification of relevant Form 56F on 19.10.2023 and with a view to avoid genuine hardship to such cases, the Central Board of Direct Taxes, in exercise of its powers under 119(2)(b) of the Income Tax Act, 1961, hereby extends the due date of filing of report of the accountant as required to be filed under clause (8) of section 10AA read with clause (5) of section 10A of the Act, for Assessment Year 2023-24 from the specified date under section 44AB to 31st of December, 2023.
(Amrit Pritom Chetia)
Under Secretary to the Govt. of India
1) OSD to FM/ PS to MOS (R)
2) PS to Secretary (Revenue)
3) Chairman (DT), All Members, Central Board of Direct Taxes
4) All Pr CCsITI, Pr DsGIT/DsGIT/CCsIT
5) All Joint Secretaries/CsIT, CBDT 6) ADG (PR, P&P) for necessary action.
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