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ICAI submits representation to CBDT requesting to consider waiver of penalty for filing of tax audit reportsfor AY 2021-22 till 31st March, 2022 The Institute of Chartered Accountants of India has submitted a representation on 6th January, 2022 to Chairman, CBDT requesting to consider waiver of penalty and other consequences for furnishing of Report of Audit under any provision of the Income-tax Act, 1961 for the A. Y. 2021-22 after January 15, 2022. This is because of outbreak of the pand
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FAQ :
The ICAI is requesting a waiver of penalties and other consequences for filing tax audit reports and other related reports/certificates for AY 2021-22 until March 31, 2022.
The ICAI cited difficulties faced by taxpayers due to the pandemic, including challenges in data compilation, account completion, obtaining confirmations, reconciliation, and preparing inputs for tax audit reports.
Issues include the non-availability of Form No. 3CEB, difficulties with filing forms like 10C and 10B, ongoing lockdowns, the rapid spread of Omicron/COVID-19, and persistent technical glitches with the new tax portal.
The waiver is being sought for Assessment Year 2021-22.
The representation was submitted to the Chairman, CBDT on January 6, 2022.
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