🧾 Income Tax Audit Report Due Date for FY 2024–25 – File Before 31st October 2025!

 As the financial year 2024–25 moves toward closure, businesses and professionals must pay attention to one of the most crucial compliance deadlines — the filing of the Income Tax Audit Report. The due date for filing the Tax Audit Report (TAR) under the Income Tax Act, 1961, is 31st October 2025. Timely compliance not only helps avoid penalties but also ensures smooth processing of income tax returns and assessments.

Let’s take a detailed look at what a Tax Audit Report is, who needs to file it, the due date, penalty provisions, and the importance of timely submission.

🔍 What is a Tax Audit Report?

A Tax Audit is an examination of the accounts of a business or professional carried out by a Chartered Accountant (CA) to ensure that the taxpayer has correctly maintained their books of accounts and complied with various provisions of the Income Tax Act.

After completing the audit, the CA furnishes a Tax Audit Report in the prescribed format — either Form 3CA/3CB along with Form 3CD — through the Income Tax e-filing portal.

This report contains detailed information about:

  • Gross receipts, turnover, or sales.

  • Deductions claimed under various sections.

  • TDS/TCS compliance.

  • Loans, advances, and payments made in cash.

  • Depreciation details.

  • Tax computation and disallowances, if any.

📘 Applicability of Tax Audit – Who Needs to File?

The need for a tax audit depends on the nature of the taxpayer’s activity (business or profession) and their turnover or gross receipts. As per Section 44AB of the Income Tax Act:

1. For Businesses:

  • If the total sales, turnover, or gross receipts exceed ₹1 crore, tax audit becomes mandatory.

  • However, if the taxpayer has opted for Presumptive Taxation Scheme under Section 44AD, the audit is not required up to ₹2 crore turnover — unless the taxpayer declares income below 8% (or 6% for digital transactions) of turnover.

2. For Professionals:

  • If the gross receipts exceed ₹50 lakh in a financial year, the taxpayer is required to get their accounts audited.

3. For Persons under Presumptive Taxation (Section 44ADA or 44AE):

  • If such persons declare profits lower than the prescribed rate and their total income exceeds the basic exemption limit, tax audit becomes mandatory.

📅 Due Date for Filing Tax Audit Report for FY 2024–25

For the Financial Year 2024–25 (Assessment Year 2025–26):

  • The due date for filing the Tax Audit Report is 31st October 2025.

  • The Income Tax Return (ITR) for such taxpayers must be filed by 30th November 2025.

It’s important to note that the Tax Audit Report must be uploaded by the Chartered Accountant on the Income Tax e-filing portal and then accepted by the assessee in their account.

⚠️ Penalty for Non-Filing or Late Filing (Section 271B)

Failing to get accounts audited or not furnishing the Tax Audit Report within the due date can lead to severe financial penalties under Section 271B of the Income Tax Act.

Penalty Amount:

  • 0.5% of total sales/turnover/gross receipts,
    subject to a maximum of ₹1,50,000.

For example, if a business has a turnover of ₹2 crore and fails to file its Tax Audit Report on time, the penalty can be up to ₹1,00,000 (0.5% of ₹2 crore).

However, no penalty shall be levied if the taxpayer can justify a reasonable cause for the delay, such as natural calamities, system failures, or serious illness.

💡 Importance of Timely Filing the Tax Audit Report

  1. Avoid Penalties & Notices:
    Late filing can attract heavy penalties and scrutiny from the Income Tax Department.

  2. Smooth ITR Filing:
    The Tax Audit Report must be filed before submitting the Income Tax Return. Delay in one can cause delay in the other.

  3. Financial Transparency:
    Tax audits ensure financial statements are accurate and compliant, enhancing credibility before banks, investors, and stakeholders.

  4. Better Tax Planning:
    Early audit completion allows businesses to identify tax-saving opportunities and rectify accounting discrepancies.

🧩 Key Points to Remember

  • The Tax Audit Report must be uploaded by a qualified Chartered Accountant.

  • The taxpayer must accept the report in their e-filing account.

  • All annexures and statements must be digitally signed.

  • Keep adequate records, vouchers, and documentation ready for verification.

  • File the report well before the deadline to avoid last-minute technical issues on the portal.

📊 Summary Table

ParticularsDetails
Applicable Section                    Section 44AB
Applicable Forms                3CA/3CB and 3CD
Due Date (FY 2024–25)                   31st October 2025
ITR Filing Due Date                30th November 2025
Penalty (Sec 271B)            0.5% of turnover, up to ₹1,50,000

✅ Stay Compliant with Taxla Services P. Ltd.

Filing your Tax Audit Report requires precision, proper documentation, and expertise. At Taxla Services P. Ltd., we ensure:

  • Accurate and timely filing of audit reports.

  • Expert consultation for tax planning and compliance.

  • Hassle-free coordination with the Income Tax portal.

Don’t wait until the last minute — complete your Tax Audit Report filing before 31st October 2025 to stay compliant and stress-free.

📞 Contact us today: +91 7305701454
📧 Email: auditsiva2@gmail.com
🌐 Website: www.taxlaservices.com

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