The income tax department on Saturday extended the deadline for filing corporate income tax returns by 15 days to November 15 for assessment year 2024-25.

In a circular, the Central Board of Direct Taxes (CBDT) said the deadline will be extended from the earlier target date of October 31.

The extension, however, does not apply to the Tax Audit Report, transfer pricing certification in Form 3CEB and other income tax forms such as 10DA for which the previous deadline of October 31 would be followed, analysts said.

The new deadline is expected to provide corporations with additional time to ensure accurate and complete filing of their returns. While the CBDT’s circular did not accompany any official explanation for the deadline extension, corporate experts hinted that it could be due to the upcoming festival of Diwali.

Adhering to the previous deadline could have become a burden as the returns would have to be filed by October 31, which is the same time as Diwali, analysts said.

Nangia Andersen LLP tax partner Sandeep Jhunjhunwala said: “This targeted extension seeks to facilitate compliance during a peak period while upholding the timely submission of critical audit documentation”.

AMRG & Associates’ senior partner Rajat Mohan said: “Taxpayers and professionals alike can now prioritise accuracy and compliance without the stress of last-minute filings amidst celebrations.”

Earlier in September, the CBDT had extended the due date for filing tax audit reports by 7 days till October 7.