Income Tax Dept Extends ITR Deadline For Charitable Trusts, Religious Institutions Till November 30

The income tax department also extended the due date for furnishing the Audit report for the fiscal year 2022-23 by a fund, trust, institution, any university, educational or medical institution.

The Central Board of Direct Taxes (CBDT) extended the deadline by one month till November 30.

The Income Tax Department on Monday extended the income tax return filing deadline for charitable trusts, religious institutions, and professional bodies in "consideration of difficulties reported by the taxpayers and other stakeholders."  The Central Board of Direct Taxes (CBDT) extended the deadline by one month till November 30.

"The due date of furnishing of Return of Income in Form ITR-7 for Assessment Year 2023-24, which is October 31, 2023, is extended to November 30, 2023," the department said in a statement. ITR-7 is filed by institutions involved in charitable and religious activities; research; and professional bodies, besides political parties and electoral trust. 

Additionally, the income tax department also extended the due date for furnishing the Audit report for 2023 by a fund, trust, institution, any university, educational institution, or medical institution. 

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

"The due date of furnishing Audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii) of clause (b) of sub-section (1) of section 12A of the Income-tax Act, 1961, in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution in Form 10B/Form 10BB for the Previous Year 2022-23, which is September 30, 2023, is hereby extended to October 31, 2023," the income tax authorities said

The deadline for submitting income tax returns (ITRs) for the majority of taxpayers in the country, including for salaried class, was July 31. Over 6.77 crore returns were filed by the deadline, marking a 16 per cent increase compared to the previous year. Furthermore, the Income Tax department received 53.67 lakh ITRs from individuals filing for the first time by July 31, indicating a significant expansion of the tax base.