• Notification Date: 22-09-2023
• Notification No: N/A

Tax filing deadline for trusts, universities and medical institutions extended by 30 days

Charitable trusts, institutions, funds, universities, educational institutions, hospitals and medical institutions have been granted one-month extension to file their audit reports by October 31, 2023. 

The due date for filing tax returns using ITR-7 has also been extended by one month till November 30, 2023. 

“The due date for furnishing audit reports in Form 10B/Form 10BB for the financial year 2022-23, which is 30.9.2023 has now been extended by the Central Board of Direct Taxes (CBDT) to 31.10.2023,” CBDT said in a statement. 

“The due date for furnishing of return of income in form ITR-7 for Assessment Year 2023-24, which was 31.10.2023 is also extended to 30.11.2023,” the statement said. 

Charitable trusts, institutions, funds, universities, educational institutions, hospitals and medical institutions have been granted one-month extension to file their audit reports by October 31, 2023. 

The due date for filing tax returns using ITR-7 has also been extended by one month till November 30, 2023. 

“The due date for furnishing audit reports in Form 10B/Form 10BB for the financial year 2022-23, which is 30.9.2023 has now been extended by the Central Board of Direct Taxes (CBDT) to 31.10.2023,” CBDT said in a statement. 

“The due date for furnishing of return of income in form ITR-7 for Assessment Year 2023-24, which was 31.10.2023 is also extended to 30.11.2023,” the statement said. 

“This extension provides relief to trusts, institutions, funds, universities, educational institutions, hospitals and medical institutions and such companies that are required to furnish ITR under section 139(4A), 139(4B), 139 (4C) or section 139(4D) only,” said tax advocate Narayan Jain. 

Earlier on February 21, 2023, the CBDT had notified the Income Tax Amendment (3rd Amendment) Rules, 2023, under which an organisation or trust is required to file audit report through form 10B if the total income of the trust or institution exceeds Rs 5 crore during previous fiscal year or in case the trust or institution has received any foreign contribution or the trust or institution has used any amount of its income outside India in the previous year.