ICAI Seeks Major Extension for Tax Audit Report Deadline: Will Finance Ministry Agree?
The Institute of Chartered Accountants of India (ICAI) has urged Finance Minister Nirmala Sitharaman to extend the deadline for filing tax audit reports for the Financial Year 2024–25 (Assessment Year 2025–26).
Currently, the due date for filing tax audit reports stands at 30 September 2025. However, the Central India Regional Council (CIRC) of ICAI has proposed that the deadline be pushed back to 31 December 2025, citing mounting difficulties for both taxpayers and professionals.
While the government recently extended the deadline for filing income tax returns (ITRs) to 15 September, CIRC has argued that the relief falls short, as persistent challenges continue to disrupt the filing process.
One of the major hurdles highlighted is the staggered release of ITR forms, which, despite easing some pressure, has been accompanied by technical glitches in the e-filing portal, delaying submissions further.
Adding to the strain, the period between July and October is considered peak season for compliance, with taxpayers juggling multiple responsibilities such as GST filings and company law obligations. This overlap, according to ICAI, has left little room for timely completion of tax audits.
In its representation, the CIRC underscored the operational challenges faced by professionals, from data compilation to the extensive nature of audit work. The proposed extension, it said, would allow for a more realistic and manageable timeline.
The request letter was signed by CIRC chairman Ankur Kumar Gupta and CIRC secretary Jayendra Kumar Tiwary, who expressed optimism that the Finance Ministry would consider the appeal.
If approved, the extension could ease administrative pressures and enhance overall tax compliance, aligning with ICAI’s mandate to uphold standards in the chartered accountancy profession.
Separately, ICAI also announced the postponement of CA examinations scheduled for 9–10 September in Kathmandu, following ongoing protests in Nepal triggered by the government’s recent ban on several social media platforms.