Returns deadline for corporates' extended

The government today extended the due date for corporates to obtain the tax audit report and furnish the return of income and fringe benefits to November 30 from October 31.

An official release said the decision to extend the due date for filing of returns had been taken following representations from some sections of tax-payers and professionals that they would not be able to complete their work by October 31.

"This is primarily because there were many holidays in October, as a result of which some of them faced certain difficulties in adapting to the new format and the new procedure for filing e-returns," the release said.

It is compulsory for corporates to file their income and fringe benefit returns electronically this year. As on October 24, around 19,000 companies have already filed the returns.

These include Hero Honda Motors Ltd, Housing Development Finance Corporation Ltd, Tata Consultancy Services Ltd, Balmer Lawrie & Co Ltd, Morgan Stanley Investment Management Pvt Ltd, and Haldiram Marketing Pvt Ltd. A large number of small companies have also filed their returns electronically.

The due date for obtaining the tax audit report and furnishing returns of income and fringe benefits has already been extended from October 31 to December 31 for taxpayers in Gujarat.

The release said no extension would be granted beyond November 30.