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

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

The specified date is one month before the due date for furnishing the return of income under section 263(1). Both the audit of accounts and furnishing of the signed, verified report in the prescribed form must be completed by that date.

  1. AThe date of furnishing the return of income
  2. BThe due date for furnishing the return of income under section 263(1)
  3. COne month prior to the due date for furnishing the return under section 263(1)Correct
  4. DThree months after the end of the tax year

Explanation

Section 63(5)(a) defines the specified date as the date one month before the return due date under section 263(1). The audit report must be furnished by then.

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