The Central Board of Direct Taxes maintains the September 30 deadline for tax audits for assessment year 2026-27, despite calls from professional bodies for an extension, highlighting the importance of early preparation to avoid penalties.
The tax audit deadline for assessment year 2026-27 remains set for September 30, and as of Monday, September 21, there has been no extension from the Central Board of Direct Taxes. CareerIndia, citing the absence of any fresh CBDT notification or Press Information Bureau release, said professional bodies had sought relief but that the filing timetable was still unchanged.
For charitable and religious institutions, the same date applies to audit reports in Form 10B and Form 10BB, which are due one month before the ITR-7 filing deadline. The Income Tax Department’s guidance says these forms are meant for trusts and institutions registered under section 12A, or those that have applied for registration through Form 10A. The department has also updated the Form 10B schema for assessment years from 2023-24 onwards, underscoring the need to use the correct, current filing format.
The compliance risk is material. Missing the tax audit deadline can attract a penalty under section 271B of 0.5% of turnover or gross receipts, subject to a cap of ₹1.5 lakh. For trusts, a late filing can also put exemption claims at risk unless the delay is condoned. CBDT rules allow condonation for late Form 10B or 10BB filings, generally within three years from the end of the assessment year, provided the taxpayer can show genuine hardship.
Practical preparation matters now more than ever. Professional groups, including the Tax Bar Association of Bhilwara, have asked CBDT to move the due date to October 31, but no official relief has been announced. Tax professionals are being urged to freeze trial balances, complete audit reports early, secure UDINs, and leave time for the required e-verification of income-tax returns within 30 days of filing, because an unverified return is treated as not filed.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
