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  
Post a Comment

Related Posts

    • Standardizing Prices for COVID-19 treatment in private hospitals

      Some of you have shared information about how some private hospitals are charging exorbitant rates for COVID-19 treatment. Efforts by some of the LocalCircles members has led to results in Maharash...

      By LocalCircles Manager
      /
    • CRUNCH IN ECONOMY

      Lockdown is gradually being lowered. Unlock is being initiated. Economic stimulus also are in place. A kind of future is being chartered for us Indians post Covid19. Will everything be alright then...

      By VIJAYKUMAR N
      /
    • Dean of RML goes to Max for COVID 19 treatment

      Government hospitals in India are in pathetic state and that is confirmed by the dean of Ram Manohar Lohia hospital, a premier hospital under Delhi Government. The dean instead of gettin...

      By Seema Mehra
      /
    • Unlock 1.0 - Lockdown Relaxation

      Attached latest lockdown rules from June 1. Seems like hot districts esp containment zones will be shut till June 30th. Details are there.

      By Amit Mishra
      /
    • How Lockdown 5.0 should work post May 31st: Public Pulse

      Many of you participated in the LocalCircles polls on way forward on Lockdown post May 31st. Below is the survey results report:

      By LocalCircles Manager
      /
    • 1 year of Modi Government 2.0 Performance: Survey Results

      Many of you participated in the circle survey to evaluate performance of 1 year of Modi Government 2.0. 1 year of Mo...

      By LocalCircles Manager
      /
    • Lockdown High Virus Load Districts

      67.2% of cases & 77.2% deaths of covid19 are concentrated in ONLY 20 districts (2.7%) of 🇮🇳 which have 10.5% of 1.35 billion popn. 50.8% cases & 53.2% of deaths of COVID-19 in 🇮🇳 are c...

      By Sarita S
      /
    • Approach on Flights and Trains restarting

      Someone forwarded the LocalCircles survey report to me yesterday. It says that airline and railway traffic will drop soon after initial spikes

      By Harsimran Kaur
      /
    • Covid-19 curve for India

      Everyone please see the attached. At this rate we will be at 2 lakh cases by June 1 and 10 lakh by July 1. While we are doing quite ok in Kerala, Mumbai and Delhi are in bad bad shape. ...

      By Sunita Varghese
      /
    • 7 day mandatory quarantine after flights

      So Bangalore has announced all Incoming domestic flight passengers from Maharashtra, Rajasthan, Delhi, Gujarat, Tamil Nadu, Delhi & Madhya Pradesh will undergo 7 day institutional Quarantine fo...

      By Ashima Gupta
      /
    • TIGHTENING OF BELT THOUGHTFUL AND RESOURCEFUL GESTURE :

      Particularly at the time of crisis where the Fiscal health along with the public health is struggling to revive . The state is to exercise restraint on some areas where money is spent su...

      By Jayakumar Daniel
      /
Share
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)