MM TAX CLUB

Circular No. 16/2023 dated 18^th September 2023

                Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24

On consideration of difficulties reported by the taxpayers and other stakeholders, the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Income-tax Act, 1961 (Act), provides relaxation in respect of following compliances:

1. The due date of furnishing Audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii) of clause (b) of sub-section (1) of section 12A of the Income-tax Act, 1961, in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution in Form 10B/Form 10BB for the Previous Year 2022-23, which is 30™ September, 2023, is hereby extended to 31% October, 2023.
2. The due date of furnishing of Return of Income in Form ITR-7 for the Assessment Year 2023-24 in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, which is 31% October, 2023, is hereby extended to 30% November, 2023.

Circular