CBDT has vide circular No. 18 of 2023 Dt. 20.10.2023 extended due date for filing Form 56F under the Income Tax Act. Relevant extract of the circular is as under:
“On consideration of difficulties arising to the taxpayers and other stakeholders in timely filing of report of accountant required to be filed under clause (8) of section 10AA read with clause (5) of section 10A of the Income -tax Act, 1961 on account of notification of relevant Form 56F on 19.10.2023 and with a view to avoid genuine hardship to such cases, the Central Board of Direct Taxes, in exercise of its powers under 119(2)(b) of the Income Tax Act, 1961 , hereby extends the due date of filing of report of the accountant as required to be filed under clause (8) of section 10AA read with clause (5) of section 10A of the Act, for Assessment Year 2023-24 from the specified date under section 44AB to 31st of December, 2023.”
Earlier Form 56F was removed from Income Tax portal and assessee were not able to file Form 56F but with this extension CBDT has again introduced Form 56F vide notification Dt. 19.10.2023 and it has been mentioned in the notification that these rules shall be deemed to come in force from 29.07.2021.
Form 56F is required to be filed in relation to a Special Economic Zones.
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