CA Umesh Sharma
Quick Summary
Arjuna (Fictional Character): Krishna, the Income Tax Department has changed the E-filing portal for the convenience of taxpayers and tax consultants. However, due to the poor functioning of the new portal the due dates of return filing, audit, and various other compliance have been extended. Kri
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FAQ :
Due dates for tax audits, income tax return filing, and holding Annual General Meetings for companies and cooperative housing societies have been extended.
Taxpayers have faced difficulties filing returns and audit reports, leading to delays in submitting financials for bank loans, CC renewals, and visa applications. Refunds are also being delayed.
Tax consultants are struggling to manage their workload due to the clash between extended and current due dates, leading to stress and wasted time on duplicated work.
The government has extended due dates until the portal functions smoothly. The ultimate solution is to take concrete steps to resolve the technical issues of the income tax portal as soon as possible.
Yes, in the previous year (2020), the tax system faced disruptions due to Covid-19, and in the current year (2021), it is again stuck due to the technical glitches of the new income tax portal.
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