#ZeeBusiness Income Tax Department sets 30 September deadline for tax audit, heavy fines for delay!
Income Tax Department sets 30 September deadline for tax audit, heavy fines for delay!
The Income Tax Department has set 30 September 2025 as the last date for submitting the tax audit report for FY 2024-25. Those required to audit their accounts must file their ITR by 31 October. Missing the deadline could attract penalties under Sections 44AB and 271B, up to 0.5% of turnover or a maximum of Rs 1.5 lakh. Tax audit ensures transparency, prevents tax evasion, and confirms accurate financial records. Filing on time helps avoid legal issues and penalties.
#taxaudit #IncomeTax #ITRFiling #TaxDeadline #Section44AB #Section271B #businesscompliance #taxpenalty #financialaudit #taxtips
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