Is it true that due date for Income Tax Audit is extended to 31 October due to GST implementation?
If this is true then government should be applauded for taking at least one decision at right time.
Yes, you are right.
Due-date for filing Income Tax Returns & various reports of audit prescribed under the IT Act,1961 has been extended to October 31, 2017.
This is a really well planned and timely announcement by ministry of finance. Every CA is busy in GST implementation and it is good that government came with announcement very well in advance.
GST implementation and post implementation confusion has kept all Chartered Accountants busy and now they can concentrate on various returns to be filed and take care of tax audits in October.
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