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

Under the Income-tax Act, 2025, the 'specified date' for getting accounts audited and furnishing the audit report for a tax year is:

The specified date is one month before the due date for furnishing the return of income under section 263(1). The audit report must therefore be furnished a month ahead of the return due date, not on the due date itself.

  1. AThe due date for furnishing the return of income
  2. BOne month prior to the due date for furnishing the return of incomeCorrect
  3. CThree months prior to the due date for furnishing the return of income
  4. DThirty days after the end of the tax year

Explanation

The text defines 'specified date' in relation to the accounts of the tax year as the date one month prior to the due date for furnishing the return under section 263(1). The due date itself is wrong because the audit report must be filed earlier than the return. Three months prior is not the stated gap.

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