The Central Board of Direct Taxes (CBDT) has extended the date of filing returns of income tax (I-T) cases that need to be audited by a month to 31 October. The earlier deadline was 30 September. This brings a much-needed relief to all the entities falling under the category. There was much debate and stress over the last two days on whether the income tax department would extend the date or not. This category of ITR is to be filed by those entities that are assessed under section 44AB of the I-T Act such as companies, partnership firms, proprietorship among others and their accounts are to be audited before filing. Certain categories of individuals like a working partner in a firm also fall under this clause. The CBDT frames policy for the I-T department.

(Live Mint)