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CS Executive · Tax Laws and Practice · Procedural Compliance under Income Tax

Under section 63 of the Income-tax Act, 2025, the due date for furnishing the return of income under section 263(1) for an assessee is 31 October. What is the specified date for furnishing the audit report?

The specified date is 30 September. Section 63 defines it as the date one month prior to the return due date under section 263(1), so with a 31 October due date the audit report must be furnished by 30 September.

  1. A31 October, the same as the return due date
  2. B30 November
  3. C30 SeptemberCorrect
  4. D31 August

Explanation

The specified date is the date one month prior to the due date for furnishing the return under section 263(1). One month before 31 October is 30 September. 30 November would wrongly add a month instead of subtracting.

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