Thousands of taxpayers in city heaved a sigh of relief on Monday, when the decision on a Public Interest Litigation (PIL) filed by Gujarat Federation of Tax Consultants with the high court gave its verdict in their favour.
Rajeev Sharma, District Taxation Bar Association (DTBA) convener said, "Though the high court has directed Central Board of Direct Taxes (CBDT) to extend the date of filling of Income Tax Returns (ITR), we will have to wait for the notification by the department."
However, Jatinder Khurana, General Secretary, Taxation Bar Association, said, "Petition in the case was filed on August 18 after adjourned numerous time, the high court gave its final verdict on Monday."
"The proposed extension has been granted subject to charge of interest under section 234-A for the period commencing October 1 up to the date of filing return of income. Although, taxpayer will enjoy the option of paying taxes before the due date of September 30 and exemption from interest. The final CBDT notification is expected in a day or two on the same," Khurana said.