Chamber of Tax Consultants has made a representation to Smt. Nirmala Sitharaman, Hon’ble Finance Minister, requesting Extension of Due Dates for filing Tax Audit, Transfer Pricing Audit and Income Tax Return for Assessment Year 2020-21. Text of the representation is as follows:-
Date: 7th October, 2020
To,
Smt. Nirmala Sitharaman,
Hon’ble Finance Minister,
Ministry of Finance, North Block,
New Delhi 110 001.
Hon’ble Madam,
Sub: Request for Extension of Due Dates for filing Tax Audit, Transfer Pricing Audit and Income Tax Return for Assessment Year 2020-21.
The Chamber of Tax Consultants, established in 1926, is one of the oldest non-profit organizations of tax practitioners of Mumbai, having Advocates, Chartered Accountants and Tax Practitioners as its members. Many senior tax professionals who regularly appear before ITAT, High Courts and the Supreme Court are its Past Presidents. The Chamber has been making regular representations before various government agencies.
The Chamber regularly takes up initiatives to act as a bridge between stakeholders and concerned regulatory bodies in order to convey and help in resolving genuine grievances or effectively implement the laws.
Today, we have come forward with a request of extending the due dates of Tax Audit, Transfer Pricing Audit and Income Tax Return filing. Apart from others, this request is based on three major reasons being:
1. The Covid-19 Pandemic
At the outset, we commend the Government for the way the pandemic has been efficiently tackled during the various phases of lockdown and unlock. We also appreciate the extension provided for tax audit and income tax return filing up to 31St October, 2020 and 30th November, 2020 respectively.
While the country has been unlocked gradually, the spread and severity of the Corona virus has not been reduced and instead is rising each day. Amidst this, several restrictions are still in place in various States and movement is still restricted. Commuting via public buses and/or other public transport is restricted and not fully operational. The numbers of reported cases of COVID-19 are still increasing and there is a fear among the people of getting infected due to which they prefer not travelling at all or restrict it to the vicinity of their homes for their necessity. Due to this, several industries and private offices have still not resumed functioning at all or fully. This also includes the offices of the Chartered Accountants and Tax Practitioners.
Due to this, the details required for carrying on tax audit and filing the return of income are not being received promptly and thus the audits cannot be efficiently performed. Also travelling to the place of audit is very difficult for the professionals and their staff.
Several Chartered Accountants and Tax Practitioners themselves have also been infected and have not been able to work for minimum of 14 days. Also, visiting any audit place all the more exposes them to the virus making them prone infection. Further, the senior citizens including senior professionals and senior assessees are advised to stay at home
These hindrances are making it very difficult for the assessees, the Chartered Accountants and the Tax Practitioners to comply with even the extended due dates.
At this juncture, we would like to appreciate that for the very same reasons that we have cited above, i.e. genuine difficulties being faced by the taxpayers due to outbreak of COVID-19 pandemic, the CBDT has further extended the date for filing belated and revised return of income for Assessment Year 2019-20 from 30th September, 2020 to 30th November, 2020.
2. Extension of last date of AGM
Due to the current pandemic situation, the last date of holding AGM for corporates has been extended to 31′ December, 2020 by Ministry of Company Affairs. Based on this, the statutory audit can be concluded even beyond 30th November, 2020.
The tax audit can be conducted only post completion of statutory audit, post which only the income tax return can be filed by the Company. In a case where the Transfer Pricing audit is also applicable, the return shall be filed only after the filing of Transfer Pricing Report in Form No. 3CEB. Therefore, complying with the tax audit and Transfer Pricing Report due date of 31′ October, 2020, and return filing due date of 30th November, 2020 seems very improbable.
One may note that since the date of AGM is extended, Annual Returns by the companies will be filed only subsequently. This will delay in getting database for the purpose of comparables for the Transfer Pricing audits.
Adequate time must be provided to comply with the audit and return filing timelines in order to maintain the quality of work.
3. Delay in release of return filing utilities
The utilities for the income tax return were made available only June’20 onwards instead of April’20. Following is the chart showing the release date and the latest update date:
| Sr. No. | Income Tax Return |
Schema Release Date |
Schema Updation Date |
Utility Updation Date |
| 1 | ITR 1 | June 2, 2020 | June 15, 2020 | July 8, 2020 |
| 2 | ITR 2 | June 26, 2020 | September 11, 2020 | September 11, 2020 |
| 3 | ITR 3 | July 31, 2020 | August 29, 2020 | September 4, 2020 |
| 4 | ITR 4 | June 5, 2020 | July 8, 2020 | August 12, 2020 |
| 5 | ITR 5 | August 25, 2020 | – | August 25, 2020 |
| 6 | ITR 6 | September 22, 2020 | October 1, 2020 (Excel Utility)Java Utility not Released | |
| 7 | ITR 7 | September 3, 2020 | – | September 3, 2020 |
Usually, the income tax returns are notified in the month of April, but due to the pandemic, the release of the returns also have been delayed on an average by 4 months.
Meanwhile, amendment to Income Tax Rules and Forms vide Income-tax (22nd Amendment) Rules, 2020 by Notification No. G. S. R. 610(E) dated 1′ October, 2020, has been amended. All reports (including reports ready for signature) after 1st October, 2020 needs to be accordingly updated in new form. These amendments of new forms will further require time for the assessees and professionals to carry out the changes for the proper compliance.
With due respect to the above difficulties faced by the assessees and the professionals, we request your Honour to take them into consideration and extend the due dates for tax audit and transfer pricing audit to 31′ January, 2021 and the Income Tax return filing to 28th February, 2021 at the earliest. The entire fraternity of taxpayer and professionals will highly appreciate if this is done soon enough (i.e. well in advance} to allow them to get a clarity and to focus on filing of returns of non-corporate/non-tax audit entities which would continue to be 30th November, 2020.
We look forward for your kind consideration to the genuine request.
Yours Sincerely,
| For THE CHAMBER OF TAX CONSULTANTS | ||
| Sd/- | Sd/- | Sd/- |
| Anish Thacker
President |
Mahendra Sanghvi Chairman |
Apurva Shah
Co-Chairman |
| Law and Representation Committee | ||
CC: Shri Pramod Chandra Mody Chairman CBDT
Download Representation for Extension of Due Dates for filing Tax/Transfer Pricing Audit & ITR
Also Read Other Similar Representations:-
| S. No. | Dated | Made by | Link to View the Representation |
| 1. | 06/08/2020 | C.V.O. Chartered & Cost Accountants’ Association | Representation for relaxation from levy of Section 234A interest |
| 2. | 25/08/2020 | C.V.O. Chartered & Cost Accountants’ Association | Suggestion /representation on 7 Important Direct Tax Issues |
| 3. | 04/09/2020 | All India Federation of Tax Practitioners Direct Tax Representation Committee |
Extend due date of filing Income Tax Returns & Tax Audit Report |
| 4. | 05/09/2020 | National Association of Tax Professionals (Haryana – Chapter) |
Request for Extension of Date of Filing of ITR & Audit Report |
| 5. | 24/09/2020 | Zalawad Federation of Trade & Industries | Roll-back provisions of TCS under section 206C(1H) |
| 6. | 23/09/2020 | Lucknow Chartered Accountants Society, Bombay Chartered Accountants’ Society, Chartered Accountants Association (Ahmedabad), Chartered Accountants Association (Surat) and Karnataka State Chartered Accountants Association | TCS- Section 206C(1H)- Request to Provide relief & Clarification |
| 7. | 13/09/2020 | Extend timeline for filing of Return, Tax & Transfer Pricing audit | |
| 8. | 31/09/2020 | Ahilya Chamber of Commerce and Industry | Withdraw New Income Tax TCS provisions |
| 9. | 07/10/2020 | Chamber of Tax Consultants | Extend Due Dates for filing Tax/Transfer Pricing Audit & ITR |
| 10. | 10/10/2020 | Tax Bar Association, Jodhpur | Extend due dates of Tax/Transfer Pricing Audits & Return Filing |
| 11. | 11/10/2020 | संभागीय चैम्बर ऑफ़ कॉमर्स एंड इंडस्ट्रीज भरतपुर (राजस्थान) | Extend GSTR-9, GSTR-9C ITR & Tax Audit Due dates |
| 12. | 12/10/2020 | All Gujarat Federation of Tax Consultants | Extend due date of filing of Tax Audit Report & Income Tax Return |
| 13. | 13/10/2020 | Tax Practitioners Association, Indore | Extend dates for filing Tax Audit Report & ITR for AY 2020-21 |
| 14. | 14/10/2020 | Tax Bar Association, Bhilwara | Extend Due Date of filing of Tax Audit & Income Tax Return |
| 15. | 14/10/2020 | Gujarat Chamber of commerce & Industry | Extend due date to submit Tax Audit Report & ITR to 31.12.2020 |
| 16. | 15/10/2020 | Karnataka State Chartered Accountants Association | Extend due date for filing TAR to 28.2.2021 & ITR to 31.03.2021 |
| 17. | 13/10/2020 | All India Federation of Tax Practitioners (CZ) | Request to extend date of filing Income Tax Audit for FY 2019-20 |
| 18. | NA | Tax Consultant’s Association, Jaipur | Extend due date for submitting Tax Audit Report & IT Returns |
| 19. | 10/10/2020 | Udaipur Tax Bar Association | Further extend due dates for filing of both ITR & TAR |
| 20. | 08/10/2020 | Tax Bar Association, Alwar | Extend due date to submit Tax Audit Report & IT Returns |
| 21. | 07/09/2020 | Tax Bar Association, Kota | Extend due date for submitting Tax Audit Report & filing IT Returns |
| 22. | NA | Nagpur Chamber of Commerce Limited | Extend due date for filing of Tax Audit reports, TP Audits & ITR |
| 23. | 21/10/2020 | Lucknow Chartered Accountants Society, Bombay Chartered Accountants’ Society, Chartered Accountants Association (Ahmedabad), Chartered Accountants Association (Surat) and Karnataka State Chartered Accountants Association | Extend Income Tax and GST Audit & Return Filing dates |
Dear All, Every year we are facing problem in IT FILING especially for TAX AUDIT returns. Where heavy compliance and work needed for this returns , for this only they allot only short time, We have to reconcile each statutory reports and GST Reconciliation becoming heavy HEADACHE .. after tallying GST only we can update the IT RETURNS matters. But why Govt can not understand this and every time they are making us begging for extension of time. Where for individual returns they are giving lot of time. Why this kind of unscientific allotment of time they do? Actually every year they should give time till 31st December only. And this time due to Covid 19 reasons all CA and consultants office staffs are discontinued and moved to their natives. And our clients work place employees also most of them left the job it self. in this situation procuring the data for auditing it self is a big headache. This Practicle problem why FM or GOVT never think and making us tension every year. and what do they get by doing this.. This all we have to condemn and not to REQUEST but DEMAND for extension of time for filing returns for TAX AUDIT cases..
Respected all,
one more thing is that some professionals Advocates/CA/CS/ICWA and GST practitioner also suffering from COVID 19. So, it is very difficulty to Finish there work in this stipulated time period.Therefor it is requested to Extend the Date of Tax Audit .
It is a genuine demand , kindly look for extension.
DUE TO THE NATURE REVENGE DISEASE OF COVID 19 , IN THE VIEW OF PUBLIC AND FINANCIAL SECTORS FINANCIAL CRISES, PLEASE EXTENDS THE DUE DATE FOR SUBMISSION OF AUDIT REPORTS AND FILING OF ITRS TO MARCH 31,2021 FOR THE A.Y 2020-21
In this COVID-19 situation, please extend the due date of filing of Tax Audit Report and other relevant report.
Please extend tax audit due date upto 31.01.2021 . Working is very tough in covid 19 .
it genuine and important to business people requirement to extend due date for audit report and filing.
I appeal to CBDT, GST, and MCA, not only to extend the due dates liberally but also to cut the size of various audit reports, Form CD, and other meaningless procedural unproductive work that help trade and industry to do productive work. It will be a step forward to achieve the Make in India goal
In this COVID-19 situation, please extend the due date of filing of Tax Audit Report and other relevant report.
Due to Act of God,by virtue of Covid-19 pandemic, requesting to extend the relevant due dates by minimum of 3 months,please.
Due to covid all gst return to be extended upto 31st December without any late fees or with minimum late fees
Govt should thought about the small traders,who are the life line of india,regarding gst matter,late fee waiver,etc
Due to this pandemic situation of Codid19 date for filing tax audit report
and other relevant report, return etc. should be extended at least
up to March, 2021 indeed. This will be great help to the assesses.
Due to this pandemic situation of Codid19 date for filing tax audit report and other relevant report, return etc. should be extended at least up to March, 2020 indeed. This will be great help to the assesses.
This will be a great help to the Companies as well as professionals.
Dear sir
Not only big business houses but also the small units are suffering from a time crunch due to the long gap of COVID-19 resulting that not the availability of accountants. approximately six months required after 31st march to get the accounts finalization with the help of many people like business staff, Pvt accountants, chartered accountants and staff, outside agencies. etc. due to lock down this precious time has lost. even though day night working, workers & accountants and auditors are suffering from separate mental stress. Govt should make a strategy so that neither loss of govt revenue nor that of their people and should extend the date till 31st jan 2021.
No notification or utility to upload requests for extension of approval u/s 12AB (New) and 80G for Trusts has been issued so far; what do the Trusts do?
Is this letter focusing on businesses? For individuals, the the tax documents needed to file returns are available to meet the 30 November deadline. I believe most of the documents for individuals’ filing the returns are generated by automated processes, which have less of a risk of contracting CV19.
In this COVID-19 situation, please extend the due date of filing of Tax Audit Report and other relevant report.