Representation on Extension of Due Date For Compliance of all fiscal laws including Income Tax, GST, CBEC, Prohibition of Benami Property Transactions Act, 1988 (PBPT Act), in view of advisory of the Hon’ble Prime Minister sir to stay inside home by BJP Economic Cell (Rajasthan), through State Co-Convenor CA Sachin Jain.
भाजपा आर्थिक प्रकोष्ठ, राजस्थान
सी.ए. सचिन कुमार जैन, – 9829720077
प्रदेश सह – संयोजक
Smt. Nirmala Sitharaman Ji,
Hon. Union Minister of Finance and Corporate Affairs,
Government of India,
North Block, New Delhi – 110001
Subject: Representation on Extension of Due Date For Compliance of all fiscal laws including Income Tax, GST, CBEC, Prohibition of Benami Property Transactions Act, 1988 (PBPT Act) , in view of advisory of the Hon’ble Prime Minister sir to stay inside home
Ref:- Pandemic Novel Coronavirus (COVID-19) spreading in India
Currently our country is on a verge of an outbreak of Corona Virus, which has already begun on a small scale and can possibly in coming days affect a lot of citizens. Though the Government is taking corrective and precautionary measures to combat this grave issue, however one of these preventive measures needs to be taken yet for the government officers as well as the working professionals, clients and the allied staff members who are unable to safeguard themselves because of the statutory time limit which has been prescribed under various statutes including the above mentioned Acts. Looking to the chronic and worsening situation of the pandemic disease ‘Coronavirus’ facing us, the authorities have been taking various steps including orders for lockdowns in all major cities till this week. I As a state co convener of Rajasthan BJP Economic Cell having obtained various inputs from connected trade/ industry associations, senior practicing CAs and tax consultants would therefore like to put forward the following suggestions for your sincere and timely consideration:-
1. Kindly give necessary instructions to extend the date of Income Tax scheme – ‘Viwad se Vishwas‘ from 31.03.2020 to 30.06.2020.
2. Kindly give necessary instructions to relax the norms of NPA so that the defaults or irregularities in making the payments of Interest or Principal for the quarter ending 31.03.2020 as well as quarter ending 30.06.2020 shall not make the borrowers be declared NPA.
3. Kindly give necessary instructions to the banks and NBFCs to not to levy any charges for ECS returns/ Cheque dishonor etc. for the entire period ended next quarter.
4. Kindly give necessary instructions to extend the Due date for Linking of Aadhar to Pan.
5. Kindly give necessary instructions to extend due date up to 30/06/2020 for all the due dates which are falling from 15.03.2020 to 31.03.2020. This would facilitate taxpayers to pay their Advance Tax, attend to time barring cases/appeals etc. & also the filing of any pending returns or statements in compliance of requirements of Income tax, CGST/SGST, Company Act/ RERA, PMLA, PBPT Act etc. without any late fees/ penalty or alternative grant.
6. Kindly give necessary instruction to give some relief to waive or reduce Interest rate on Business loan and home loans for 2 to 3 months of during the pandemic affected period.
7. Kindly give necessary instruction to extend the period of F.Y. from 31/03/20 to 30/06/20 making it of 15 months in place of 12 months.
Mam today Hon’ble Supreme Court also has exercised powers under Art 142 and suspended expiry of all limitation periods till further orders.
Mam as per the reading of the provision of acts it is apparent that most of these Authorities are forced to hold their hearings/ proceedings because of the time limits prescribed. In turn the professionals and their clients along with their staff members are forced to meet and interact with each other and attend the hearing before the Officers/ Authorities. In which we all are unable to maintain the mandatory “social distancing”
Under these circumstances thousands of lives are being put at risk and grave danger as the assessee as well as professionals have no option but to appear and travel to
Government Offices, which are located in crowded areas, where maintaining proper social distancing is not quite possible.
It seems that in this Pandemic time, when our Government is busy handling a large number of issues these aspects also to be taken care and to be bring in your attention. We felt that it is our duty to bring this situation to your kind notice, so that the lives of thousands of people are not put at risk because of these statutory provisions and their strict compliance.
We would be highly thankful if you could extend the due date well in time, which would be very useful in planning and to concentrate solely on fighting this war against COVID-19.
(Sachin Kumar Jain)
BJP Economic Cell (Rajasthan)