Govt. extends deadline for filing Income Tax audit report to October 7
The Hindu
Income Tax Department extends audit report filing deadline to October 7, 2024 due to technical difficulties faced by taxpayers.
The Income Tax (I-T) Department has extended the date for filing audit report for 2023-24 by seven days till October 7.
In a circular, the I-T Department said considering the difficulties faced by taxpayers in electronic filing of various audit reports under the Income Tax Act, the deadline is being extended from September 30, 2024 to October 7, 2024.
Moore Singhi Executive Director Rajat Mohan said technological issues in electronic filing of tax audit reports have pushed the Government to extend timelines by seven more days.
Also Read: How to file Income Tax Returns (ITR) 2024 via WhatsApp
"Load of filings is quite high on the portal in the last few days, throwing the entire ecosystem in a frenzy. Government should either upgrade the system to handle such rush or stagger the timelines for tax filings," Mr. Mohan said .
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.
Explore the key business events that defined India in 2025, from trade wars to regulatory reforms and corporate expansions.
The rarely-used eight-unit Fisk power plant owned by Houston-based NRG Energy was scheduled to retire next year. But then came from artificial intelligence.
The rupee gains 12 paise to 89.51 against the U.S. dollar, buoyed by RBI's liquidity support.
In a recent conversation with Dwarak Rajagopal, Head of AI Research at Snowflake, what stood out was not optimism or scepticism, but maturity.
Explore how India's export landscape is increasingly dominated by a few states, revealing regional disparities and structural challenges.