The Institute of Chartered Accountants of India (ICAI) has requested an extension of the tax audit report filing deadline for FY 2024–25, proposing a new deadline of 31 December 2025 due to complexities faced by taxpayers and professionals. The current deadline is 30 September, with ITR filings extended to 15 September.

Despite the staggered release of ITR forms, technical issues with the income tax e-filing portal have delayed submissions. Taxpayers face challenges managing GST filings and company law requirements from July to October, complicating timely tax audits. The ICAI seeks leniency to address these operational challenges and facilitate accurate data compilation.

The proposed extension aims to provide a more manageable compliance timeframe for taxpayers and professionals. The CIRC highlighted the need for accurate data compilation and the extensive nature of tax audits in their communication. If granted, the extension could alleviate tax administration pressures and enhance compliance nationwide, supporting the CA profession oversight role of the ICAI.

In a separate development, the ICAI has postponed CA exams in Kathmandu on 9–10 September due to protests in Nepal following a ban on social media platforms by the government. The request for the tax audit report deadline extension was originally reported by The Accountant, a GlobalData owned brand.

Read more at Yahoo Finance: ICAI requests extension for tax audit report submission deadline