Tag: AY 2026-27

Income Tax Notifications & Order IT

Tax Audit Due Date Extended to 21 October 2026: CBDT Circular 07/2026 Moves the ITR Date to 21 November for Audited Assessees

CA Adityavikram Banka

CBDT Circular 07/2026 extends the AY 2026-27 tax audit due date to 21 October 2026 and the ITR date to 21 November 2026 for audited assessees outside Section 92E.

Income Tax

Late Tax Audit Report Penalty for FY 2025-26: Section 271B, the Section 273B Reasonable-Cause Defence and the New Section 428 Fee Under the Income-tax Act 2025

CA Adityavikram Banka

Missed the 30 September 2026 tax audit deadline? Section 271B penalty (0.5%, max Rs 1.5 lakh), the Section 273B defence, and the new Section 428 flat fee from 2026-27.