CBDT extends deadlines for filing of Form 10B/10BB and Form ITR-7 for AY 2023-24 [Read Circular]

The Central Board of Direct Taxes (CBDT) has issued a circular, extending the last date to file Form 10B/Form 10BB for PY2022-23 to 31st October, 2023 and Form ITR-7 to 30th November, 2023.

The CBDT Circular No. 16/2023, Dated 18.09.2023 has stated the following –

“On consideration of difficulties reported by the taxpayers and other stakeholders, the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Income-tax Act, 1961 (Act), provides relaxation in respect of following compliances:

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 IOBB for the Previous Year 2022-23, which is 30th September, 2023, is hereby extended to 31st October, 2023.

The due date of furnishing of Return of Income in Form ITR-7 for the Assessment Year 2023-24 in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, which is 31st October, 2023, is hereby extended to 30th November, 2023.”

Earlier this week, The Jalandhar Income Tax Bar had presented a request to the Finance Minister regarding the deferment or extension of the deadline for submitting/uploading Form(s) No. 10B/10BB, as specified in Notification No. G.S.R.118E, dated February 21, 2023. The same request has been forwarded to the Prime Minister of India, State Finance Minister and Chairman of CBDT.

Read More: Jalandhar Income Tax Bar writes FM to Defer or Extend Deadline for Filing/Uploading of Form 10B/10BB

The designated members, including CA Jatinder Bhatia (President), Adv. Gulshan Kataria (Secretary), and Adv. Sameer Bhatia (Member of the Academic Committee) of the Income Tax Bar of Jalandhar, had submitted the request.

To Read the full text of the Circular CLICK HERE

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