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CS Professional · Advanced Direct Tax Laws and Practice · Tax Audit

Under the Income-tax Act, 2025 (applicable from the June 2027 session), by what date must the tax audit report under section 63 be furnished by the assessee?

The audit report must be furnished by the specified date, which is one month before the due date for filing the return of income under section 263(1). The accountant signs and verifies the report, and the assessee furnishes it by that earlier date.

  1. AOn the due date for furnishing the return of income under section 263(1)
  2. BThe date one month prior to the due date for furnishing the return of income under section 263(1)Correct
  3. CThe date three months after the end of the tax year
  4. DThe date one month after the due date for furnishing the return of income

Explanation

Section 63(5)(a) defines the 'specified date' as the date one month prior to the due date for furnishing the return under section 263(1). Section 63(3) requires the report to be furnished by that specified date, duly signed and verified by the accountant. The due date of the return itself is the date for the return, not for the audit report.

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