Request made to FM for Business Income Tax Audit Filing Deadline Extension

Upon the request of many citizens in July 2019 to extend individual income tax filing date, LocalCircles conducted a survey and took up the request with Finance Ministry officials. Subsequently the filing date was extended to Aug 31st.

Many startups and SMEs had also expressed concerns recently regarding the business slowdown and focus on preparation for the festive season and hence a need to extend the income tax audit returns filing deadline to Nov 30th, 2019. LocalCircles has taken up the issue to the Finance Minister post the survey that was conducted in the Startups/Doing Business circle.

Below is the poll result and the submission details that you may go through and share with your contacts who are a startup, SME or have a small business.

LocalCircles Survey on Business Income Tax Audit Deadline Extension

We are hopeful that they will accept the request and extend the income tax filing deadline for businesses. more  

View all 51 comments Below 51 comments
It should not be extended any more. There is not reason for it. Honest taxpayers knows their duty well. more  
Even if there is an increase of 5% more assessees coming into the tax dragnet because of the extension of timelines, it may still be worth it!
Coz really it's right now not as important how accurately assessees are paying up their tax dues, as it is important to get as many of them to start regular and annual filing of their taxes!!
Meaning the quantum of actual payables per assessee is not as important as the quantum of assessees themselves.

Aim to get more and more assessees into the tax net before setting right their tax dues, etc more  
The problem of extension is severe now due to the unwillingness of business class to do the working in time.some unqualified persons always find it difficult to do things correctly and there are very few who are able to advise properly.Now due to GST the time extensions are needed but that will not help the traders much as there are always some persons blaming one another for non compliance more  
I don't see any logical reason for extension for filing IT return for the year ended on March 31. Business enterprises, irrespective if their sizes, should have geared up to file & 6 months time is sufficient and adequate to complete the task. Monsoon fury has gone in for months. So we need to cutivate the habit of sticking to time frame. Even in the new format no new data has been asked for but different way of presenting. So no need for extension. more  
I think the given date limits for filing IT returns as adequate No change in date of filing return is needed. more  
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