Delhi Tax Bar Association has made a representation to Hon’ble FM Nirmala Sitharaman Ji and requested for Extension of Due Dates for Submission of Income Tax Returns and various Audit Reports under the Income Tax Act and Companies Act.
DELHI TAX BAR ASSOCIATION
Formerly Bar Association (Income Tax) (ESTD. 1954-55)
G-09, CENTRAL REVENUE BUILDING, INDRAPRASTHA ESTATE,
NEW DELHI – 110002
Ref No.: DTBA/21-22/048
To,
Hon’ble Nirmala Sitharaman Ji,
Finance Minister of India,
Ministry of Finance,
Govt. of India,
North Block, New Delhi-110001.
Subject: Submission of Income Tax Returns and various Audit Reports under the Income Tax Act and Companies Act -Extension of Due Dates – request regarding.
Hon’ble Madam,
It is respectfully submitted as under:
1. The Delhi Tax Bar Association is the oldest Association of Advocates, having already celebrated its diamond jubilee more than 7 years back. Our Association comprises exclusively of about 800 Advocates, majority of whom are practicing in Indirect and Direct Taxes. The Advocates are a part and parcel in the administration of Finance and Taxes and undertake compliance work under the Income Tax Act and the Companies Act.
2. The due date for filing of the Income Tax returns for the period 01.04.2020 to 31.03.2021 is presently 31st of December, 2021. However, with regard to the same and the captioned subject hereinabove and also due to the following reasons, we respectfully bring to your kind attention the imperative need to extend the due date of filing of the income tax returns: –
i) The sudden emergence of the Omicron virus and the rise in the number of Covid cases has put lots of curbs and restrictions for the taxpayers to collect and collate the data and information required to file the income tax returns.
ii) The new Income Tax portal had actually become functional only during the end of September, 2021 and the same is continuing and functional, albeit a lot of glitches and difficulties. The taxpayers as well as the professionals are still facing many a problem in filling up the relevant Income Tax Forms and uploading the information on the portal.
(iii) The Department has also been updating and upgrading the various Utilities and General Instructions on the portal, from time to time. For instance, the Utility for ITR – 5 was updated only on 9th December, 2021 and for ITR – 6 on 3rd December, 2021. Similarly, for Forms 3CA / CB-3CD, the latest version was released only on 9th December, 2021. The taxpayers, professionals are taking time to understand and then upload the information required to fill these Forms. At the same time, even the software companies are also taking quite some time to modify and amend their respective software and this is resulting in consequential delays for the taxpayers to file their returns.
(iv) The recently introduced systems of MS (Annual Information System) and TIS (Tax Information Summary) on the Income Tax portal is a very new thing for the taxpayers and is resulting in lots of difficulties and anomalies for them to reconcile the information & details. This reconciliation of information is taldng a very long time and it may not be possible to submit the income tax returns by the due date of 31st December, 2021.
(v) Much of the taxpayers and professionals time was consumed during the marriage season, commencing from November to 15th December, 2021. Similarly, the last week of December, 2021 is the Christmas season, which would again affect the taxpayers ability to gather information required to file the returns by 31st December, 2021.
It is due to the aforesaid reasons that it may not be practically possible for a large number of assesses / professionals to collect information and details necessary / required for filing of Income Tax returns by the prescribed due dates.
We therefore, sincerely pray that due date of Income Tax Returns and Audit Reports be extended at-least by three months i.e. upto31st March, 2022 so that professionals are not put to undue stress for timely compliances. This act of extension of the due dates, by passing suitable Orders and issuing Notifications would be very useful for the taxpayers and a great relief for the taxation fraternity.
With Highest regards
Yours truly
For Delhi Tax Bar Association
M.P. PATHAK
PRESIDENT
A trust run two education institutions. One institution is fully government granted fall u/s 10 (23C)(iiiab) another fall u/s 10(23C)(iiiab).
While filing Trust return utility of Return no 7 accept income of any one institution and not of both. How can gross receipt and it’s application under Section 10 (23C) (iiiab) and 10 (23C) (iiiad) be shown in schedule IE3 and IE4 in the income tax return of a trust?