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What is the status of date extension for tar ?

Others 1264 views 7 replies
Friends, Can someone please give update on date extention for TAR for AY 2015-16. T & R KP
Replies (7)

NO EXTENTION YET

CBDT has made it clear that the there will be no extension for Tax Audit report related returns. Extension if any for any problem will announced only on 1/2 oct if Association of Ch Acc give some representations. That to not sure. Still there are 16 days and every CA has to put in xtra hours to meet the dead line.  

There is no extension of TAR until now. CBDT has made clarifications regarding the same that it would not get extended. And even if it gets extended the same intimation would come across only by end of the month or by 1st October as it happened with non audited return assessees
Seeking extension from Department might prompt Finance Ministry to rope in other Professionals to facilitate in carrying out tax audit reports as a budget proposal. So, it can be a double edge sword, if CA's are not proactive, they need to gear up to this challenge and perform their enshrined duties diligently.
Regarding the extension of due date for Audit. Delhi HC: The writ is not accepted. Court directed to file a PIL on same ground Petitioner are going through what next step to be taken and seeking legal advice as rules of PIL are quite rigid in Delhi HC. Entire matter likely to be clear by tomorrow AGFTC = All Gujarat federation of tax consultants is also going to file a writ by tomorrow or mostly day after tomorrow in HC GUJARAT. HC Gujarat delivered first favourable judgement last year followed by many high courts. Lets hope from gujrat too . Nagpur Chamber of Commerce is also filing a petition in High Court for extension of date. .

Sub: No extension of date for filing of returns due by 30th September– reg. Income-tax returns for Assessment Year 2015-16 for certain categories of assessees viz companies, and firms, individuals engaged in proprietary business/profession etc whose accounts are required to be audited, are to be filed by 30th September, 2015. The audit report is also required to be filed by the said date. The Government has received representations from various stakeholders seeking extension of date for filing of returns and tax audit reports beyond 30th September 2015. The reasons cited are delay in notifying the returns and related delay in availability of forms on the e-filing website. The matter has been considered. Income-tax returns forms 3,4,5,6 and 7 which are used by the above mentioned categories of assessees were notified for Assessment Year 2015-16 on 29.07.2015. The forms were e-enabled and were available on the e-filing website of the Department from 7th August 2015 giving enough time for compliance. The changes made to these forms are not extensive as compared to the earlier years. Further taxpayers entering into either international transactions or specified domestic transactions are required to file their returns by 30th November 2015 only. After consideration of all facts, it has been decided that the last date for filing of returns due by 30th September 2015 will not be extended. Taxpayers are advised to file their returns well in time to avoid last minute rush.

They will announce two month extention on 30.09.2015 at 4.00 PM 


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