All India Federation of Tax Practitioners
(An Association of Advocates, Chartered Accountants & Tax Practitioners of India)
Regd Office: 215, Rewa Chambers, 31, New Marine Lines, Mumbai- 400020.
Tel: 022- 22006342 / 49706343 / Telefax: 022- 22006343 / E-mail: email@example.com/ Website : www.aiftponline.com
Ref. No. …………………………………..
Date: 23 Oct 2017
Central Board of Direct Taxes
North Block, New Delhi
Reg: Request for extension of date for filing Income Tax Returns for AY 2017-18 in cases where Tax Audit Report or Transfer Pricing Report or other Audit Report are prescribed
All India Federation of Tax Practitioners having its registered office at Mumbai, is an Apex Professional Organization, comprising of Advocates, Chartered Accountants and Tax Practitioners, serving the society for the past 04 decades. The main object of the Federation is to disseminate the knowledge and to resolve the problem being faced by the professionals.
At the outset, we place our heartfelt gratitude for extending the due date of filing of income tax returns in cases where various audit tax reports are prescribed, till 31st Oct 2017.
However we are getting several requests from our members all over India that this year, being the extra ordinary year, it is very difficult to file the income tax returns on or before 31st Oct 2017 due to exceptional circumstances.
Your Honor are well aware that this year, professionals are busy in making compliance with GST obligations. GST Act is new, compliances are many, notifications are being issued everyday and the technical glitches in the system have aggravated the problems. Further dates are being extended everyday and the professionals have to make the compliances on daily basis. Accordingly, professionals are finding a very short time for making compliance with the income tax obligations.
(2) Apart from this, CBDT has notified new Income Computation and disclosure standards with effect from 01.04.2016 which has increased the complications and has required more time to spend by the professional in finalizing the tax audit reports.
Further this year, October is a month which is having number of festivals e.g. Durga Puja, Lakshmi Puja, Vishwakarma Puja, Deepawali and Chhat Puja.
This is not all. CA examination have been scheduled to take place from 01st Nov 2017 and most of the articled clerks and assistants are on leave in the offices of the Chartered Accountants.
Companies Act 2013 has also made certain changes requiring various details to be incorporated by the auditors in their audit reports which is time consuming.
Under these circumstances, we request Your Honour to kindly consider further extension of date for filing the income tax returns at least for a month i.e. upto 30th Nov 2017 in cases where tax audit report or transfer pricing report or other audit reports are prescribed.
We shall be highly obliged for your kind gesture.
(Prem Lata Bansal)
Prime Minister’s Office
152, South Block, Raisina Hill, New Delhi- 110001
Shri Arun Jaitley
Hon’ble Finance Minister
North Block, New Delhi- 110001
128/A, North Block, New Delhi- 110001.