CBDT issues extension in timeline for furnishing report under Form 56F by the newly established entities operating in Free Trade Zones
Central Board of Direct Taxes (CBDT) in its recent circular has issued extension in timeline for furnishing report under Form 56F by the taxpayers operating as newly established undertakings in Free Trade Zone.
Taxpayers intending to claim deduction under Income Tax Act, 1961 of such profits and gains as are derived by an undertaking from the export of articles or things or computer software shall submit a report in Form 56F (certifying that the deduction has been correctly claimed) from an accountant on or before 31.03.2025 for the A.Y 2024-25.
Refer the circular hyperlinked below for ease of reference.
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