I-T return filing date may get extended
After drawing criticism from taxpayers and tax professionals, the Central Board of Direct Taxes (CBDT) will most likely extend the final date for the income tax return filing.punjab Updated: Sep 22, 2014 18:42 IST
After drawing criticism from taxpayers and tax professionals, the Central Board of Direct Taxes (CBDT) will most likely extend the final date for the income tax return filing.
According to the tax professionals in city, the final date for income tax return filing is likely to be extended and the decision on the same will be out soon. The taxpayers in the city were deeply concerned after income tax department had extended the final date for submitting audit report filing to November 30, but the final date for filing I-T return was kept same.
Rajeev Sharma, convener, District Taxation Bar Association (DTBA), said, "The final decision on the return filing date will most likely be in the favour of taxpayers."
"After it made changes in the audit report filing forms, the taxpayers expressed their concern and demanded an extension of final date for the audit report filing. The CBDT, then, set November 30 as the new date for filing audit report."
He added that the details of the audit report filing was an important aspect while filing income tax return, but the department for long had overlooked the fact.
One of the taxpayers, Harman Khurana, said, "The extension of audit report filing date was a welcome move by the CBDT, but not extending the date for I-T return filing date put us in a whammy. After being widely criticised, the department is now expected to take decision in the favour of taxpayers."