Chartered Accountants Institute wants due date for filing Income Tax Return extended
THE Institute of Chartered Accountants of India has suggested to the CBDT:
a) The due date of filing return of income under section 139(1) for assessees mentioned under clause (a) of Explanation 2 to section 139(1) be extended in line with the extension granted for submission of tax audit report under section 44AB of the Act.
b) Since the provisions applicable to every Assessment year are clarified by the relevant Finance Act well in advance, it is further suggested that all ITR forms and forms of Audit reports be notified well in advance by 1st April every year, to avoid such situations.
The Gujarat Federation of Tax Consultants has done better - they filed a writ in the High Court and we understand that the High Court has yesterday directed the CBDT to extend the date.