Due Date for Filing Income tax Return for corporate assessees and those who come under compulsory audit under income tax Act or under any other Act is 30th September 2012. Question which comes to every CA professionals mind is whether due for filing income tax return for this year will get extended or not? Now the question is why the government should extend the date? We have found 5 Such reasons why we fell government should extend the due for filing of Income tax Return.

As we all know last date for Income Tax Return Filing for For Corporate & non corporate assessees (i.e. Partnership Firm ,LLP, Proprietorship Firm, HUF) whose accounts are required to be audited under Income tax act or any other act for the time being in force is 30.09.2012. As 30th September is a holiday i.e. Sunday so there arise a question whether last date of return filing will remain 30th September or it will get extended to 01.10.2012 (Monday).

Return of Income Tax – Person not required to be audited – 31st July. Person required to be audited Under Income Tax Act,1961 or under any other Law – 30th September

Assessees having income from salary have to file return of income before July 31 of the assessment year. This is the `due date’ prescribed in section 139(1) of the Income Tax Act, 1961. Self-employed businessmen and professionals, and those deriving income from let-out property too have to file their returns by this date.

Automatic Due Date Reminder Calender for Financial Year 2012-13-This Calender contains due dates of all the statutory and other Reports to be presented to Management and Banks.

As per the existing provisions of the Income-tax Act, the report of audit under section 44AB is required to be furnished by 30th September of the assessment year. Section 139 was amended vide Finance Act 2011 to extend the due date of furnishing of return by the corporate assessees, who have undertaken international transactions, from 30th September to 30th November of the assessment year.

Industry players today asked the Finance Ministry to extend the last date for e-filing of returns by a month, to October 31, as listed firms would find it difficult to comply with the existing September 30 deadline.

On consideration of the reports of dislocation of general life caused due to the law and order problem in the State of Jammu & Kashmir, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date for filing of returns of income which were required to be furnished by 31st July, 2008 to 30th September, 2008, in cases of income-tax assessees in the State of Jammu & kashmir.

On consideration of the reports of disruption caused due to floods in the State of Bihar, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of obtaining tax audit report u/s 44AB of the I.T. Act as well as for filing of returns of income required to be furnished by 30th September, 2008 to 30th November, 2008, in the cases of income-tax assessees in the State of Bihar.

The Central Board of Direct taxes have extended the last date of filing of income tax /fringe benefit tax returns due by 31st October 2007 as follows:- For electronic returns (companies, and firms requiring tax audit u/s 44AB) to 15th November 2007; and For paper returns (other than those required to file electronic returns) to 2nd November 2007. It is further clarified that the dates for obtaining tax audit report under section 44AB of the Income Tax Act have also been extended accordingly.