CA Sandeep Kanoi
CBDT has vide its order dated 26.09.2013 has extended the due date for e-filing of Tax Audit Report to 31.10.2013. The order has nowhere mentioned about the due date for e-filing of Income tax Return (ITR). It seems due date for filing of ITR are been kept same. If Assessee do not file the ITR on or before 30th September 2013 he may have the following implications:-
- He may have to pay Interest U/s. 234A on taxes outstanding.
- Losses if any may not be allowed to be carried forward
- Assessee also have to Pay Statutory dues U/s. 43B on or before the filing of ITR or Due Date i.e. 30.09.2013 whichever is earlier.
- Those who filing there ITR on or before the due date i.e. 30.09.2013 will have to file Tax Audit Report either manually or electronically before 30.09.2013. If taxpayer has filed manually then he have to file the same electronically also on or before 31.10.2013.
CA Sudhir Halakhandi says that “The date extension notification is no relief at all , Professionals have wasted lot of time in faulty process of e-filing and now left with very little time to complete rest of the audits to produce the audit report to AO before 30-09-2013. ICAI should come forward to resolve the problem. “
As there in no print facility in Audit Report utility, now within 4 days Tax Professionals need to prepare the audit reports in manual formats ignoring, the time wasted in preparing audit report electronically, print it and submit at respective jurisdiction offices in long line of persons trying to submit it and then upload the return (ITR) and all these on or before 30th September 2013.
In True Terms for Tax Professional as evident from Order there is no extension for ITR or Tax Audit Report. The only thing is if Assesssee faces any problem in Tax Audit Report online upload he may file the Tax Audit Report First Manually by 30.09.2013 and then electronically by 31.10.2013
Order has created a lots of confusion by not specifying regarding ITR and CBDT needs to immediately clarify its stand on ITR filing.
Press Release by Ministry of Finance Dated 26.09.2013
Time for Furnishing the Report of Audit Electronically Extended till October 31, 2013.
It has come to the notice of the Central Board of Direct Taxes (CBDT) that many assessees who are required to file their income tax returns by September 30, 2013 are finding it difficult to upload the report of Audit electronically as prescribed under the proviso to sub-rule (2) of Rule 12 of the IT Rules for the Assessment Year 2013-14. Therefore, the CBDT has decided to extend the time for furnishing the report of Audit electronically till October 31, 2013. However, the assessees are required to file the report of Audit manually with the jurisdictional Assessing Officer by the prescribed due date, i.e. September 30, 2013. The assessees are also required to file their returns of income electronically by the prescribed due date, i.e. September 30, 2013.