Taxpayers demand extension of income tax return filing date
The taxpayers are not satisfied with the Central Board of Direct Taxes (CBDT) move to only extend the date for the annual audit report filing and not for the income tax return filing, which would have simplified the overall process of filing returns.punjab Updated: Aug 23, 2014 15:43 IST
The taxpayers are not satisfied with the Central Board of Direct Taxes (CBDT) move to only extend the date for the annual audit report filing and not for the income tax return filing, which would have simplified the overall process of filing returns.
In the wake of recent amendments in the tax audit forms, after receiving several requests from across the country, CBDT has extended the date for final submission of audit report to November 30, whereas the final date to file the income tax return remains the same.
Rajeev Sharma, convener of District Taxation Bar Association, said, “The details of the financial reports and balance sheet of the firms are scrutinised during the auditing process and details of it are further filled in the income tax return filing form, while claiming the returns.”
He added, “There is no denying that the recent move by the CBDT of extending the final date for submitting auditing report is appreciable, but without extending the date for income tax return filing, it does not make sense.”
Gurjot Singh, owner of a private enterprise, said, “The details of the auditing are required while filing the Income Tax Returns, so it is pertinent that the CBDT comes to terms with the general taxation regulations and release a new date for the filing of the income tax returns, else it will make the entire process complex.”
However, Jatinder Khurana, Taxation Bar Association general secretary said, “The entire process will be disturbed if the final date for the income tax returns filing is not extended corresponding to the audit filing report. Consequently, it is the taxpayers who will bear the brunt of it. It is quite likely the CBDT will extend the final date for filing income tax returns.”
First Published: Aug 23, 2014 15:41 IST