Extending the deadline for filing ITR-7 is a welcome step: Narayan Jain

Central Board of Direct Taxes: In a major relief to the taxpayers, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing audit reports including ITR-7 filing. Advocate Narayan Jain has appreciated the move of CBDT to extend the above date.
Advocate Narayan Jain, while clarifying this on Tuesday, said that CBDT has extended the deadline for filing Income Tax Return (ITR) for ITR-7 and others in its circular number 16/2023, dated September 18, 2023. Jain said that CBDT has extended the date of filing only Form 10B, Form 10BB till October 31, 2023 and the date of filing ITR-7 till November 30, 2023 for the assessment year 2023-24 and not for others.
Jain said that this notification issued by CBDT is limited to filing of Form 10B, 10BB and ITR-7 by trust or charitable institution etc. He said that this relaxation given in the time limit of CBDT provides relief to trusts, institutions, funds, universities, educational institutions, hospitals and medical institutions and only such companies etc. which are subject to the provisions of section 139(4A), 139(4B). , ITR is required to be filed under section 139(4C), or section 139(4D).