ITR deadline extended: Great relief to companies! The government extended the date of filing income tax return for companies by one month to 30 November.
ITR: The government has extended the deadline for filling income tax return for companies to one month to 30 November. Apart from this, the last date of submission of audit reports for such companies who need to audit their accounts have been extended to one month to 31 October.
The Finance Ministry said in a statement on Monday, “The deadline for filing income tax returns in Form ITR-7 (ITR-&) for the assessment year 2023-24 has been increased from October 31, 2023 to 30 November, 2023.”
Direct collection so far increased 23.51%
Till mid -September in the current financial year, the net direct tax collection increased by 23.51% to Rs 8.65 lakh crore. The Finance Ministry said that due to more advanced tax payment from companies, there has been a tremendous increase in direct tax collection. During this period, advance tax payment has increased by 21%.
CBDT extends due date for filing of Form 10B/10BB for FY 2022-23 to 31.10.2023.
Due date for furnishing of ITR in Form ITR-7 for the AY 2023-24 also extended to 30.11.2023.
CBDT Circular No. 16/2023 dated 18.09.2023 issued and is available at: https://t.co/tTSzaqqPSR pic.twitter.com/fsCNEJk4oX
— Income Tax India (@IncomeTaxIndia) September 18, 2023
According to the data, the budget estimate for the current financial year has been 47.45% of the budget estimate of Rs 18.23 lakh crore. In the last financial year 2022-23, the direct tax collection was Rs 16.61 lakh crore.
The last date for payment of the second installment of advance tax was 15 September. The ministry said in a statement that by September 16, a Personal Income Tax of Rs 4,16,217 crore in Net Direct Tax Collection of Rs 8,65,117 crore, a personal income tax of Rs 4,47,291 crore including Corporate Income Tax (CIT) and securities transactions (STT) (PIT) ) Includes.
