Extension of due date for filing Income Tax Returns- ICAI ask for suggestions

Dear Professional Colleague,

Sub:   Extension of due date for filing Income Tax Returns – Soliciting views/ suggestions reg.

As you are kindly aware, the CBDT has notified the ITR forms vide Notification No 49/2015, dated 22nd June, 2015 and Notification No 61/2015, dated 29th July, 2015. With regard to the same, as the due date of filing income tax returns is approaching, some members have voiced their apprehensions and the hardships being faced by them on account of delayed notification of ITR Forms and as a result a very short period of time is available.

It is pertinent to mention that the ICAI is appreciative of the fact that the CBDT has proactively extended the due date to file ITRs for assessees mentioned under clause (c) of Explanation 2 to section 139(1) from 31^st July, 2015 to 31^st August, 2015 for AY 2015-16. Assessees other than: i) a company; ii) a person (other than a company) whose accounts are required to be audited under the Income-tax Act or under any other law for the time being in force; iii) a working partner of a firm whose accounts are required to be audited under the Income-tax Act or under any other law for the time being in force and iv) an assessee who is required to furnish a report referred to in section 92E, are covered under clause (c) of Explanation 2 to section 139(1) and are generally required to file their ITRs by 31^st July, 2015.  The Direct Taxes Committee of the ICAI had represented to the CBDT vide Representation Number: ICAI/DTC/2015-16/Rep – 20 dated 10^thJuly, 2015 for the extension of the due date to 30^th September, 2015 for such assessees.  While sufficient time has elapsed since the representation was submitted to CBDT and the due date i.e. 31^st August, 2015 is fast approaching.

It may further be noted that vide the above Representation dated 10^thJuly, 2015, the Direct Taxes Committee of the ICAI had also requested for the extension of the due date from 30^th September, 2015 to 31^st December, 2015 for assessees mentioned under clause (a) of Explanation 2 to section 139(1). Such assessees include a company, a person (other than a company) whose accounts are required to be audited under the Income-tax Act or under any other law for the time being in force and a working partner of a firm whose accounts are required to be audited under the Income-tax Act or under any other law for the time being in force.

The Direct Taxes Committee of the ICAI is pursuing for extension of the due date to file income tax returns for aforesaid classes of assessees in the hope that our above requests are receiving the deserved consideration by the CBDT and that we will shortly hear favourably from them.

This communication is to keep our fellow members apprised of the position in the backdrop of the related queries from the members. In case any specific difficulties are faced by you/ your clients, you may share the same with us at the earliest, on dtc.suggestions@icai.in in the below mentioned format, to enforce our aforesaid requests suitably at the appropriate level :

  Warm Regards,     

CA. Tarun Jamnadas Ghia
Chairman

Direct Taxes Committee of ICAI                                 
(tarunghiaca@yahoo.co.in)