The Chartered Accountants all over India is requesting the Government to extend the tax audit due date for the current assessment year. As the due date is going to expire within seven days, the auditors and tax professionals are under pressure to achieve the deadline.
The tax professionals have even started a campaign in the social media with a hashtag #ExtendAuditDueDate requesting an extension from the Government.
The last date for filing income tax for other persons was 31st August 2018. Apart from filing the returns and audit reports, the tax professionals are also busy in fulfilling their compliance responsibilities under the Goods and Services Tax (GST) laws which consumes all their time. Further, the last date for filing form DIR-3 KYC without fee has expired on 15th September.
The technical glitches and the shutting down of GST, MCA, and income tax websites make return filing a nightmare to the tax professionals.
Considering the situation and burden on its members, the Institute of Chartered Accountants of India ( ICAI ) has submitted three representation to the Central Board of Direct Taxes (CBDT) for an extension. The ICAI requested the Board to extend the last date for filing returns to 31st October 2018 and to extend the deadline for furnishing Tax Audit Reports.
Unlike the past years, there are severe consequences to the specified assessees for not meeting the deadlines of TAR or filing of returns. The non-filing of TAR would result in the heavy penalty under section 271B, for failure to furnish return by the due date, disallowance of deductions.
However, communication has been issued from the Government’s side to confirm an extension.
Amidst all these, the CBDT has issued an advisory to the taxpayers to file tax returns and tax audit reports within the due date.
I have requested @arunjaitley & CBDT Chairman to consider request to extend date to file tax audit report by few weeks, but no extension of tax dues. Similar Order passed was by CBDT in 2014. Extension needed because of change in the Tax Audit form on 11 Aug 2018 @BJP4India
— Kirit Somaiya ( Modi ka Pariwar) (@KiritSomaiya) September 21, 2018
#ExtendAuditDueDate #ArunJaitley #cbdt #PMOIndia #MannKiBaat Need to extend Last date of Audit up to 31.10.18 as the utilities of the forms got modified frequently by CBDT and Giving extension before 22th sept is useful.
— Ramesh Bagdi (@rcbagdi05) September 21, 2018
Its impossible to complete audit in one month as 31-8 was last Dt for ITR.. Then practically we had one month left#ExtendAuditDueDate@PMOIndia@narendramodi @arunjaitley @FinMinIndia @adhia03 @PiyushGoyal
— CA Harshil sheth (@CA_HarshilSHETH) September 20, 2018
@FinMinIndia All forms must be ready on 1st April.26AS is only available after 15th June.Non audit cases due date should be shifted to 31st August and for Audit cases to 30th November which also do not collide with other gst or TDS quarterly due dates #ExtendAuditDueDate
— Rajendra Rampuria (@r_rampuria) September 21, 2018
Where is #easeofdoingbusiness @PMOIndia ? @IncomeTaxIndia @cbic_india dont support your vision?Why knowledgeable youth shud waste time & life here under Arrogance? #ExtendAuditDueDate
— CA. Hardik Thacker (@cahpthacker) September 21, 2018
सर जी थोड़ा हम सब के #MannKiBaat भी सुन लो!!
Whole nation is tweeting with #ExtendAuditDueDate for a reason. Kindly see the fiasco being created with all the government's website having multiples of technical glitches— Sagar Tripathi (@casagar_) September 21, 2018
