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ICAI seeks extension of due date of filing of return

Posted on 19 September 2014,    
  Share    46536  Report

ICAI has, through, a representation dated 15.09.2014 brought to the attention of Chairman, CBDT the concerns of the taxpayers on account of non extension of due date of filing return of income under section 139(1) along with the date of furnishing tax audit report. Further, ICAI has suggested that:
 

a) The due date of filing return of income under section 139(1) for assessees mentioned under clause (a) of Explanation 2 to section 139(1) be extended in line with the extension granted for submission of tax audit report under section 44AB of the Act. 
 

b) Since the provisions applicable to every Assessment year are clarified by the relevant Finance Act well in advance, it is further suggested that all ITR forms and forms of Audit reports be notified well in advance by 1st April every year, to avoid such situations. 
 

Direct Taxes Committee, ICAI

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