Income Tax Audit Report Due Date for FY 2024–25: Complete Guide, Forms, and Penalties

An Income Tax Audit is a systematic examination of a taxpayer’s financial records to ensure that the income, deductions, and taxes declared in the return are accurate.

Conducted under Section 44AB of the Income Tax Act, it requires certain categories of taxpayers to have their books audited by a qualified Chartered Accountant (CA).

Due Date for Filing Income Tax Audit Report (FY 2024–25)

For the Financial Year 2024–25 (Assessment Year 2025–26), the due date for filing the Income Tax Audit Report is generally 30th September 2025. However, this date can vary depending on the taxpayer’s category and whether any extensions are announced by the Central Board of Direct Taxes (CBDT).

Taxpayers requiring audit under Section 44AB:
Due date for filing the audit report: 30th September 2025
Due date for filing the income tax return (ITR): 31st October 2025
Taxpayers involved in international or specified domestic transactions (Transfer Pricing cases):
Due date for filing the audit report: 31st October 2025
Due date for filing the ITR: 30th November 2025

It’s common for the government to extend these deadlines in case of technical glitches or natural disruptions. However, waiting for an extension is risky—always prepare and file early to avoid last-minute stress.

The Income Tax Department also issues official notifications regarding due date extensions, so taxpayers should stay updated through the official website or reliable financial news sources.

Consequences of Delay in Filing Income Tax Audit Report

Missing the due date for filing the Income Tax Audit Report can have serious financial and compliance implications. The Income Tax Department treats delays strictly because audits ensure accurate reporting and fair taxation. Let’s look at what happens if you miss the deadline

Monetary Penalty: The taxpayer is liable to pay a penalty under Section 271B, which can go up to ₹1,50,000 or 0.5% of total sales, turnover, or gross receipts, whichever is lower.
Interest on Late Filing: Delay in filing the audit report often leads to delayed filing of the income tax return as well. In such cases, interest under Section 234A may apply for late return filing.
Loss of Deductions: Some deductions under sections like 80-IA, 80-IB, etc., may be disallowed if the audit report is not filed before the due date.
Impact on Business Credibility: Regular non-compliance can affect your reputation, especially if you’re dealing with government tenders, investors, or financial institutions that require proof of tax compliance.
Scrutiny and Notices: Delayed filing increases the likelihood of receiving notices from the Income Tax Department for verification or clarification.

In short, the cost of delay—financial, operational, and reputational—far outweighs the effort required to file the report on time.

What Is Income Tax Audit Report

When it comes to running a business or professional practice, compliance with tax laws is not just a legal formality—it’s a crucial part of financial discipline. Among the many compliance requirements, one that stands out is the Income Tax Audit Report. Every year, thousands of taxpayers fall under the audit criteria prescribed under Section 44AB of the Income Tax Act, 1961.

The Income Tax Audit ensures that taxpayers accurately maintain their books of accounts and disclose all relevant information in their tax returns. It’s not merely about submitting documents; it’s about showing transparency and accountability in your financial operations.

Who Needs to Get an Income Tax Audit Done?

Not every taxpayer is required to undergo an Income Tax Audit. The applicability depends on the nature of business, turnover, and profit margins. Here’s how it works:

For Businesses:

If the total turnover or gross receipts exceed ₹1 crore in a financial year, a tax audit is mandatory.

However, under the presumptive taxation scheme (Section 44AD), if turnover is up to ₹2 crore and the taxpayer declares income at 8% (or 6% for digital receipts), then audit is not required.

If the taxpayer opts for presumptive taxation but declares income lower than 8%/6% and total income exceeds the basic exemption limit, audit becomes mandatory.

For Professionals:

If gross receipts exceed ₹50 lakh in a financial year, audit is mandatory under Section 44AB(b).

For Others (Presumptive Income Cases):

For certain professionals under Section 44ADA, if income declared is less than 50% of gross receipts and exceeds the basic exemption limit, they must also undergo an audit.

Understanding these limits is crucial because even a small oversight can lead to non-compliance. Always review your turnover and profit levels before the financial year ends to determine if an audit applies to you.

Purpose of the Income Tax Audit Report

The Income Tax Audit Report serves multiple purposes. It’s not just a document—it’s evidence that your financial records are transparent and reliable. Here are some of its main objectives:

Ensures Accuracy: The audit verifies whether the books of accounts are correctly maintained and reflect the true financial position.
Prevents Tax Evasion: Regular audits discourage manipulation of records and help the government prevent tax evasion.
Promotes Transparency: Businesses that comply with audit requirements project integrity and professionalism, building trust among stakeholders.
Identifies Errors: It helps detect and correct accounting errors, ensuring compliance with accounting standards and tax regulations.
Facilitates Assessments: Audited financial statements simplify the process of assessment for both the taxpayer and the department.

In essence, the Income Tax Audit Report is a bridge between the taxpayer and the government—confirming that financial transactions are legitimate and taxes have been properly paid.