FM urged for extension of due dates for submission of IT returns

By
Daily Excelsior
-

Excelsior Correspondent
JAMMU, Dec 30: Income Tax Bar Association has appealed the Union Finance Minister for extension of due dates for submission of Income Tax returns and various audit reports under the Income Tax Act.
The due date for filing of the Income Tax returns for the period 01.04.2020 to 31.03.2021 is presently 31st of December, 2021.
In a representation submitted to the Finance Minister, the Association has explained that the sudden emergence of the Omicron virus and the rise in the number of Covid-19 cases has put lots of curbs and restrictions for the taxpayers to collect and collate the data and information required to file the income tax returns.
The new Income Tax portal had actually become functional only during the end of September, 2021 and the same is continuing and functional, albeit a lot of glitches and difficulties. The taxpayers as well as the professionals are still facing many a problem in filling up the relevant Income Tax Forms and uploading the information on the portal, said the Association, adding that the recently introduced systems of MS (Annual Information System) and TIS (Tax Information Summary) on the Income Tax portal is a very new thing for the taxpayers and is resulting in lots of difficulties and anomalies for them to reconcile the information & details. This reconciliation of information is taking a very long time and it may not be possible to submit the income tax returns by the due date of 31st December, 2021.
The Association further said that much of the taxpayers and professionals time was consumed during the marriage season, commencing from November to 15th December, 2021. Similarly, it added, the last week of December, 2021 is the Christmas season, which would again affect the taxpayer’s ability to gather information required to file the returns by 31st December, 2021.
“We therefore, sincerely pray that due date of Income Tax Returns and Audit Reports be extended at-least by three months i.e. upto31st March, 2022 so that professionals are not put to undue stress for timely compliances. This act of extension of the due dates, by passing suitable orders and issuing notifications would be very useful for the taxpayers and a great relief for the taxation fraternity,” reads the Association representation.

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