NEW DELHI: The deadline extension is expected to provide additional time for taxpayers and tax professionals to complete pending tax audit-related work. During the audit process, transactions with related parties and other important details are also examined.
If any discrepancy is found in the information, additional time may be required to correct it or carry out further verification. Several chartered accountant organisations and tax professionals had urged the government to extend the deadline. They had said the earlier timeline was insufficient to complete audits, reconcile different records and verify the required information.
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income for Assessment Year 2026-27 in the case of persons mentioned at S. No. 2 in the Table below Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961 from 31st October, 2026 to 21st November, 2026.
Accordingly, the ‘specified date’ for furnishing of the report of audit under the provisions of the Income-tax Act, 1961 for Assessment Year 2026-27, in the case of such persons, stands extended to 21st October, 2026
Press Release Issued.
Also Read— Income Tax India (@IncomeTaxIndia) September 28, 2026
What should taxpayers do now?
The extension does not mean taxpayers should postpone their audit work until the last date. The additional time should be used to complete pending work and keep all necessary documents ready. Taxpayers should keep their books of accounts, bank statements, bills and invoices, GST records and TDS-related information updated.
They should also check their Annual Information Statement (AIS), Taxpayer Information Summary (TIS) and Form 26AS. If there is any mismatch between these records and the books of accounts, it should be corrected before the audit report is submitted.
What happens after the audit report is submitted?
Once a chartered accountant uploads the tax audit report on the Income Tax e-filing portal, taxpayers have to log in to their Income Tax e-filing account and accept or approve the report. Therefore, taxpayers should not plan only for the time required to upload the audit report. They should also keep sufficient time to review and accept the report after it is uploaded.
