Lately we had seen that due date for filing Income Tax return was 31.12.2021 and same was not extended by the Ministry of Finance even after repetitive representations from professionals.
Now, 15.01.2022 is the due date for filing Tax audit report and Audit report in relation to Trust and professionals are again demanding either extension or waiver of late fees as they have been facing various difficulties which includes changes in Tax audit report on 06.01.2022, Inability to file Form 3CEB, Issues in filing Form 10B etc.
Now a Member of Parliament (Rajya Sabha) who is also a Chartered Accountant Mr. N.D. Gupta has also made a representation before the Finance minister, requesting to extend the due date.
In the Representation made the following points have been raised:
- Changes in schema of Tax audit report thrice because of which people have to revisit and correct their Tax audit report which was prepared in old schema.
- Increase in Covid cases and hence there could be a third wave of Covid coming.
- High late fees and penalty which needs to be paid by SMEs for delay in submitting such tax audit report.
To download the same CLICK HERE.
Apparently ICAI has also made a representation before Ministry of Finance for extension of due date on 06.01.2022 considering increasing Covid cases and issues with Income tax portal etc.
What are your thoughts on same?
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