Extend due dates of TAR/ITRs/VSV Scheme for AY 2020-21

Calcutta Citizens’ Initiative, Representation on Extension of due dates of Vivad Se Vishwas Scheme and also for extension of date for TAR and ITRs for asst year 2020-21.

Calcutta Citizens’ Initiative
3, Ho Chi Minh Sarani, Ground Floor, Kolkata 700001 Ph – 033-2466-1000
Email: [email protected]

URGENT

Ref. CII/Rep/2021/01

Dated: 9^th January 2021

Shri P.C. Mody,
Chairman, Central Board of Direct Taxes,
Ministry of Finance,
Government of India, North Block,
New Delhi-110 001.

Respected Sir,

Re: Suggestions for allowing appeal effect and Rectification etc. for success of Vivad Se Vishwas Scheme; and Representation for further extension of due dates for filing Income Tax Return Forms for Asst Year 2020­-21, Tax Audit Reports etc.

At the outset we convey our Good Wishes for New Year. We would like to make the following representation:

1. Vivad Se Vishwas Scheme : We appreciate the Vivad Se Vishwas Scheme, 2020 and hope that it will get desired success. However your honour should issue necessary instruction to filed officers so that they carry out rectifications/ appeal effects etc. In case addition has been made in 2 cases, one on substantial basis and another in the nature of protective basis and if the assessee in whose case substantial addition was made, he opts for Vivad Se Vishwas Scheme, then the addition made on protective basis should be immediately deleted. In such cases on the rest of the amount the second party may opt for Vivad Se Vishwas Scheme. Thus, more disputes will stand settled. The prograess of the scheme may please be examined and if thought appropriate it may be extended till 28^th February, 2021 for filing declarations under VsV.

2. Despite best efforts by the professionals/ taxpayers, many of the IT Returns could not be furnished. If the ITRs are not filed in time it may entail Late Fee of Rs.5,000 or Rs.10,000 as the case may be, which is a big burden. This year is an exceptional year due to Covid-19 pandemic and the inconvenience caused to the taxpayers is immense. Further, despite recent approval by concerned regulatory authorities of vaccines for emergency use to cure this dreaded disease, it is still in process so far public is concerned and risk in general is not yet over. Therefore we suggest that :

a) Specified date u/s 44AB of the Act for furnishing tax audit report and Report u/s 92E in case of specified Domestic Transactions/ International Transactions 1961 may be extended to 28^th February, 2021. The date for furnishing Income Tax returns in case of company/ audit cases/ Charitable Societies or Institutions for AY 2020-21 may please be extended to 31^st March, 2021.

a) Due dates for furnishing return of income in non-company/ non audit cases u/s 139(1) of the Income-tax Act, 1961 may please be extended to 31^st March, 2021.

3. We hope that our suggestions would be favourably considered by your honour.

With Warm Regards,

Yours faithfully,
For Calcutta Citizens’ Initiative

Pawan Paharia, President
CA K.N. Gupta, Secretary

CC for kind consideration to :
Shri Anurag Singh Thakur,
Hon’ble Minister of State for Finance and Corporate Affairs   
Government of India, Department of Revenue, North Block, New Delhi – 110001

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