CBDT Extends Due Date For Educational & Charitable Institution Audit And Form ITR-7 For The Assessment Year 2023-24

The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24.

The due date of furnishing Audit reports in Form 10B/Form 10BB for the Financial Year 2022-23, which is 30.09.2023 has now been extended by the CBDT to 31.10.2023.

Form 10B is associated with charitable institutions and religious trusts operating under Section 12AB, Form 10BB is associated with educational institutions and medical institutions operating under Section 10(23C).

The due date of furnishing of Return of Income in Form ITR-7 for Assessment Year 2023-24, which is 31.10.2023 is also extended to 30.11.2023.

Any taxpayer can use the ITR-7 Form for filing Income Tax Returns if they file as a Trust, Company, Firm, Local authority, Association of Person (AOP) or Artificial Judicial Person and claims exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C)or Section 139 (4D).

Circular No. 16/2023

Date: 18/09/2023

Click Here To Read The Circular