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CA Final · Direct Tax Laws & International Taxation · Tax Audit and Ethical Compliances

Under the Income-tax Act, 2025, the 'specified date' for getting accounts audited and furnishing the audit report under section 63 is:

The specified date is the date one month before the due date for furnishing the return of income under section 263(1). Section 63(5)(a) defines it this way, and the audit and the report must be completed and furnished by that date.

  1. AThe due date for furnishing the return of income
  2. BThree months before the due date for furnishing the return under section 263(1)
  3. CThe date one month prior to the due date for furnishing the return of income under section 263(1)Correct
  4. DThe last day of the tax year

Explanation

Section 63(5)(a) defines the specified date as the date one month prior to the due date for furnishing the return of income under section 263(1). The other dates mentioned are not found in the provision.

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