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October 31, 2007 20:42 IST
The Central Board of Direct Taxes on Wednesday extended the last date of filing returns for income tax and fringe benefit tax by companies and firms with turnover of more than Rs 40 lakhs (Rs 4 million).
Earlier, the last date for filing returns was expiring on Wednesday.
Those filing returns through electronic mode can now file returns by November 15, while corporate assessees filing returns in physical form can file returns by November 2, CBDT said in a statement.
However, firms with a turnover of more than Rs 40 lakh will have to obtain tax audit report from auditors by November 2 if they submit returns on paper, and by November 15 if they file returns online, it said.
The decision has been taken following delay in the issuing of notification on guidelines for calculating FBT on employees stock option. The guidelines were issued on September 23.
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