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 Due Date for Filing Income tax Return for corporate assessees and those who come under compulsory audit under income tax Act or under any other Act is 30th September 2012. Question which comes to every CA professionals mind is whether due for filing income tax return for this year will get extended or not?  Now the question is why the government should extend the date? We have found 5 Such reasons why we fell government should extend the due for filing of Income tax Return.

1. First Time implementation of Revised schedule VI – People may argue that what difference it will  make if format is changed , but the fact is that implementation of revised schedule has taken lot of additional effort and time of professionals.

2. Late Release of ITR :- This Year ITR  been released as late as on 06.08.2012 while ITR 5 been released on 10.07.2012 & ITR 4 t0o was released  in last week of June 2012.

3. Disturbance of general life caused due to failure of power in most Part of the Country –  There was a complete power failure in India in last week of July which has effected About 22 states and Union Territories.

4. Mandatory e-Filing with Digital Signature for Individual & HUF  to whom Audit provision u/s 44AB is applicable – CBDT has vide Notification No.14/2012 [F.No.142/31/2011-TPL]/S.O. 626(E), DATED 28-3-2012 made filing of Return with digital signature Mandatory for Individuals & HUF who are required to get there account audited from Assessment Year 2012-13 onwards.

5. Festivals :- Most of the establishments are virtually closed on account of ongoing Ganpati festivals in Maharashtra and other parts of India.

We would like to invite the comments of our viewers on the topic. 

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0 Comments

  1. ca hitesh says:

    The time must be extended by 60 days. Aprt from the valid reasons stated ,in A.P. we experienced many bandhs due to Telangana agitation and holidays and non availability of staff due to ramzan, bonalu(local festival)

  2. SHANTARAM KANADE says:

    Due date of Income tax Return filing i.e. 31-07-2013 should be extended upto
    31/08/21/013 as The Return forms down loaded late by dept. and the website is blocked since yesterday afternoon

    How can we file the Returns ?

  3. Raghavan S says:

    The Government must consider the extension for a month or atleast for 2 weeks. In Karnataka during September 3 days has been wasted because of 1 day Bharath Bandh and 2 days of Transport Strike. Hope some one from Government is reading our feedback.

  4. venu says:

    YES!!!

    We (Salaried class) are the only persons who are taxed by Employers under TDS and Further taxed by Vendors where we purchase grocery and file the returns promptly as if we have neglected the TAXES. By all means and the daily schedule of the Employers we need additional time for finalising the returns. Hence Extension is required rather the last date should be kept as 31st Decemner on account of various reasons.

  5. Reshma Nair says:

    The due date should be extended to 31.10.12 because of Schedule VI, very time consuming and Ganpati Festival has disrupted the whole office work.

  6. jyotirmaybhattacharyya says:

    I think the main issue which people are facing is that ITR get corrupted frequently. It is very true that due date of filing Income tax return should be extended.

  7. Yogesh Katare says:

    Date must be extended till 31.10.2012 due to
    – critical format of changes in schedule 6 for companies
    – assessee couldnot make payment in bank due to close on bank working days
    – fastivals

  8. CA.R.N.Saha says:

    Because of flood in Assam, the entire Assam is devasted by flood because of incessent rainfall for last one month. Not only Assam but Bihar & Bengal and other Northern states are also suffering due to flood and the business community also and unable to prepare accounts for audit purpose

  9. Mihir Nimbolkar says:

    Registering the DSC has been very troublesome this year. Moreover, the ITRs also have been getting corrupted time and again. Its a very bad situation as far as the festive season is concerned. Ganesh immersion day is on the 29th Sept. due to which offices will have to be closed in cities like Pune, Mumbai, etc. where the processions go on for more than 24 hrs. I just hope all things should be considered by the Hon’ble Finance Minister and provide an appropriate extension to the due date of return filing. If at all they are to extend the due date, the extension should be declared as soon as possible and not on the 30th Sept. at 3:30 p.m. like they did on 31st July.

  10. GS KUMAR says:

    Sept 29th is bank holiday on account of half yearly closing of accounts. Hence tax challans cannot be remitted on 29.09.2012. Hence extension of time is most necessary

  11. Avinash Kalro says:

    We all want an extension.. no power since yesterday . My UPS battery is down. My digital signature is valid only till 27th sept.

    Can we all write emails to the cbdt for extension ? Does anybody have their email id ?

  12. srinivasa says:

    It is incorrect to have last date of IT filing on 30/9/ every year because ROC allows AGM till 30/9 and unless accounts are approved in AGM how one can file IT Returns?
    Hence last date of filing IT returns should not clash with last date of AGM allowd by ROC in any case. Hence 31/10 as earlier should be last date for IT returns

  13. Raju says:

    Apart from the above 5 points we would like to add one more point ………..There is a compatability issue with Income Tax E-filing Website while registering the DSC from Windows 7 – 64 bit OS. Evenafter inform to the Department there is no response. The IT department should be upto date on Technology side like MCA.

  14. Pranav Bhuta says:

    In my opinion the due date should have been extended in the first week of September itself. Extending the due date in the last week of September is of no use. It’s just helpful to those who have failed to file their Income Tax Returns on account of failure to complete their books of accounts or because they are least bothered to file the returns on time. All of us knew this was coming from the beginning of this year. In the case of the cyclone in the North East India the extension should be granted only to those parts which have been hit by the cyclone.
    We can say that there was a failure on the part of the Government in not releasing the Income Tax Returns on appropriate timings but at the same time we can say that there have not been any major changes in the Income Tax Returns also.
    As far as Revised Schedule VI is concerned it was known to us that the same shall be made applicable. We were prepared for the same.
    To conclude, extending the due date will just shift the pressure for a month and the articles will have to suffer for a month more.

  15. Pranav Bhuta says:

    In my opinion the due date should have been extended in the first week of September itself. Extending the due date in the last week of September is of no use. It’s just helpful to those who have failed to file their Income Tax Returns on account of failure to complete their books of accounts or because they are least bothered to file the returns on time. All of us knew this was coming from the beginning of this year. In the case of the cyclone in the North East India the extension should be granted only to those parts which have been hit by the cyclone.

    We can say that there was a failure on the part of the Government in not releasing the Income Tax Returns on appropriate timings but at the same time we can say that there have not been any major changes in the Income Tax Returns also.

    As far as Revised Schedule VI is concerned it was known to us that the same shall be made applicable. We were prepared for the same.

    To conclude, extending the due date will just shift the pressure for a month and the articles will have to suffer for a month more.

  16. g.r.balajee says:

    Really it should be extended because in Tamilnadu nearly 14 hours of Power cut.We are not able to concentrate on our day to day life. Certainly minimum 1 month extension is requried

  17. ram says:

    I HOPE..EXTENDED..BCOZ..WE TOTAL SUFFERING WITH POWER CUT IN ANDHARA PRADESH..SO..I HOPE..HON.MIN.SRI CHIDAMBARAM..MAKE GOOD DECISSION..FOR TENSSSEON FREE WORK FOR BUSSINESS PEOPLE..

  18. CA Lalit Munoyat says:

    Reasons for extention or non extention are many and even more may be added. The due dates have been fixed considering many diverse circumtances prevailing under Indian culture. The fact of the situation that one ignores is causing the whole debate. Under Indian calander the concept of Adhik Mass (Extra month) is very inportant which makes up for the loss of days in due to cutting or overleaping of certain Indian dates (Tithis). This year has one such extra month and due to this all the festivals have shifted forward by almost 15-20 days. That being so, the assessees are more busy during this month of september catering to the extended festival period of, say Ganpati in Maharashtra, Jain Parushan etc. It is but natural that no one should be forced to disrupt his business at the cost of compliance of certain taxation laws.

    2) One should also consider whether such requests are coming every year regularly or only in some years occassionaly.

    3) No one talks of the political & economical conditions of India. The Government and the opposition are very busy only in the blame game. Coalgate scandle has wasted one whole session of parliament. Every one talks of the decipline that a lame duck business man or a frofessional should follow while no one talks of decipline that the government or the opposition must follow in the first instance. Every other day there is a Band in one part or the other part of India causing a great inconvinience to the general public.4) Many repliers have talked a lot of the computerization as a reason for making 30th April itself as the prescribed date without realising that for how many hours and in how many States the electricity is available even for 12 hours a day. We are advised to installed Power Back up system like Inverter but one does not realise that the available electricity is not enough to Recharge the inverter day on day basis.

    4) The government has many pressure groups within & outside also . It all depends upon the lobby power of the pressure group whether a particular action would be taken or not. For example, excise duty on branded garment & branded jewellery was levied in 2011. The traders complained but no respite was given. This year the levy was extended on unbranded jewellery also and the the Finance Minister bluntly refused to withdraw the same. But the pressure group had so much lobbying power that the duty was removed not only on the unbranded items of jewellery but also on branded items also for which there was no demand as it was alreay in operation without resistance for one year. Why the same treatment was not given to the branded items of readymade garments?.

    5) To conclude, if the law makers have no respect for the laws that they have made themselves, then one must not blame the traders or the professional for the problems created by the law makers themselves. Why the ITR was notified so late leaving virtually no time to train the staff on the new format?. The government must first provide the required infrastructure and set a deadline thereafter and also devote sometime to solving the problems of the tax payers insted of wasting time on preparing strategies to counter the Anna & Ramdev.

    CA Lalit Munoyat

  19. ram says:

    yes..i agree with u..bcoz..power cut is big probleme for doing work..this power cut hours..morning..and evening.in office..hours…this was the big probleme..to..complet audit work..i hope..hon.min.sri.chidanbaram..know it..n..take..good decission..

  20. CA Atul Kumar Khemka says:

    I agree with your views
    It is required that the date be extended as Revised Scheule VI is also creating problems and morevoer the Gnapati festival has disrupted the whole office working

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