The Central Board of Direct Taxes (CBDT) has issued an order under section 119 of the Income-tax Act, 1961, allowing trusts, institutions, and funds to submit their audit reports in Form No. 10B or 10BB by November 10, 2024. This extension follows Circular No. 02/2024, which initially set a deadline of March 31, 2024, for the filing of these reports. The CBDT recognized that some entities faced challenges in filing their audit reports in the correct prescribed format before the original deadline. This measure aims to alleviate genuine hardships faced by these entities and ensure compliance with the reporting requirements for the assessment year 2023-24. The decision has received the necessary approvals and is communicated to various stakeholders, including tax officials and the Ministry of Finance, to raise awareness of the revised timeline.
F. No. 173/118/2024-ITA-I
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
([TA-I Division)
North Block, New Delhi
Dated: 7th October, 2024
Sub:- Order under section 119 of the Income-tax Act, 1961— reg.
Central Board of Direct Taxes (‘CBOT’), by Circular No. 02/2024 dated 05.03.2024 had allowed those trusts/institutions/funds, which have furnished audit report on or before 31st October, 2023 in Form No. 10B where Form No. 10BB was applicable and vice-versa, to furnish the 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 (I) of section 12A of the Income-tax Act, 1961, in the applicable Form No.10B/10BB for the assessment year 2023-24, on or before 31st March, 2024,
2. It has been brought to the notice of the CBDT that in some cases, such trusts/institutions/funds, as mentioned above, could not file the audit report in the correct prescribed form.
3. On consideration of the matter, with a view to avoid genuine hardship to those trusts/institutions/funds, for which the date of 31st March, 2024 was prescribed to furnish the audit report in the applicable Form No. 10B/10BB, by the above mentioned Circular No. 02/2024 dated 05.03.2024, the CBDT in exercise of the powers conferred under section 119 of the Act, hereby further allows such trusts / institutions/ funds to furnish such audit report in the applicable Form No. 10B / 10BB on or before 10th November, 2024.
4. This issues with the approval of competent authority.
(Hardev Singh)
ACIT (OSD), ITA-I, CBDT
E-mail: [email protected]
Copy to: –
1. PS to FM/OSD to FM/PS to MoS (R)/OSD to MoS (R)
2. PPS to Secretary (Revenue)
3. The Chairman, CBDT & All Members, CBDT
4. All Pr. Chief Commissioners of Income-tax/Pr. Director Generals of Income-tax.
5. Pr. Chief Controller of Accounts, New Delhi
6. All Joint Secretaries/CsIT, CBDT
7. Pr.CIT(M&TP), CBDT and Official spokesperson of CBDT.
8. The Additional. Director General (PR & PP), New Delhi with a request to undertake extensive media campaign to make the assessees aware of the revised time line for furnishing the audit report in correct form.
9. Addl. CIT, Data-Base Cell – for placing it on www.irsofficersonline.gov.in
10. Web Manager, 0/o Pr.DGIT (Systems) with request to upload on the departmental website.
11. The Guard File.
ACTT (OSD), ITA-I, CBDT
