ആദായ നികുതി റിട്ടേൺ ഫയലിംഗ്: ഓഡിറ്റ് ആവശ്യമുള്ളവർക്ക് നവംബർ 21 വരെ സമയം നീട്ടി നൽകി സിബിഡിടി

The Central Board of Direct Taxes (CBDT) has extended the income tax return filing deadline for taxpayers subject to audit requirements from October 31 to November 21, 2026, giving them additional time to do the needful.

The deadline for submitting tax audit reports for Assessment Year (AY) 2026-27 was also extended from September 30 to October 21, 2026.

The extensions came after chartered accountants and tax practitioners urged the government to provide more time for submitting tax audit reports, which are due a month before the return filing deadline.

The wave of demand, witnessed on social media, was driven partly by the heavy work overload in September, when tax professionals must also handle GST filings, company-related assignments and other statutory requirements.

Who needs to file ITR by November 21?

Any taxpayer with income from business or professional services, who is also required to submit an audit report shall file their return by November 21 to avoid penalties and tax notices.

Those who have already submitted their audit reports should ensure they meet the extended ITR filing deadline.

For businesses, a tax audit is required if their total sales, annual turnover or gross receipts exceed ₹1 crore in a relevant financial year. However, this threshold is raised to ₹10 crore where the cash receipts and cash payments levels are less than 5% of total receipts and payments, respectively.

For professionals, on the other hand, the general threshold for requiring a tax audit is ₹50 lakh in gross receipts.

This provision also applies to taxpayers opting out of presumptive taxation schemes such as Sections 44AD, 44ADA, 44AE, 44BB, and 44BBB, or those declaring lower income than prescribed under these schemes, subject to conditions including exceeding the maximum exemption limit.

Companies whose accounts are audited under company law must also file their audit reports. The requirement also applies to firms, LLPs and other entities covered under the applicable audit provisions.

What happens if you miss the ITR deadline?

If you miss the November 21 deadline, then you would still have the option to file a belated return under Section 139(4) of the Income-tax Act.

For AY 2026-27, the income tax department says a belated return can be furnished on or before December 31, 2026, or before completion of the assessment, whichever is earlier.

However, filing a belated return can attract a late-filing fee under Section 234F. The department states that the fee is ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 in all other cases.

However, taxpayers who failed to submit their tax audit reports by the extended deadline of October 21 also have to face extra penalties for that delay, as required under Section 44AB of the Income-tax Act.

In such cases, the income tax assessing officer may impose a penalty of 0.5% of the taxpayer's total sales, turnover or gross receipts from business or profession, or ₹1.5 lakh, whichever is lower, according to information available on the tax department's portal.