PRESS RELEASE MISSION TAR 2014 A NOTE BY SUDHIR HALKANDI, BEAWAR The central Board of Direct taxes has extended the date of obtaining and furnishing the Tax audit report to 30/11/2014 though the Date of filing of Income tax returns is still 30/09/2014 and it is very unfortunate situation troubling the whole trade and Industry which is a very big part of the total tax paying fraternity. This year the central Board of direct taxes has introduced the New and fresh formats of Tax audit report on 25/07/2014 but the utility for furnishing the same on Income tax site was not ready till 20/08/2014 hence no returns were possible to be filed for whole 25 days and this black out of 25 days should be the sole reason to extend the date of filing of Income tax returns. But it appears that our law makers are not in a mood to listen any logical argument in this respect and still the date of filing of ITR is 30/09/2014 though the date of filing of TAR has been extended to 30/11/2014. As per the Income Tax Law at present applicable in the country there is no separate date of obtaining and furnishing the Tax audit report and it is directly linked with date of filing of Income tax returns hence the CBDT’s action to extend the date of Tax audit report without extending the date of ITR is not only practically difficult to follow but also unreasonable and illogical. The base of this problem is lying in the Midyear introduction of the Formats of audit but the most problematic part this problem is lying in the fact of extension of date of TAR without extending the date of ITR. The whole Trade and industry is suffering from this tricky and troublesome problem created by this unprecedented action of our law makers which is the total reversal of declared policy of the Govt. about for simplification and rationalization of the Taxation laws. Even the formats of ITR and the instructions to file them do not permit to file them without uploading the Tax audit report but these formats are now being adjusted to allow this possibility of filing them without tax audit report. If the return is filed without completion and uploading of the tax audit report then it is suggested to the taxpayers that they can revise their returns if any difference is found in the audit report but see here that when whole scheme of Income tax Act is supporting this system since last several years that the ITR can only be filed after completion of the Tax audit and it also a practical chronological order then why suddenly there is a change to make the system more complex, confusing and problematic for the Lakhs of tax payers of the country by compelling them to file their ITR without completion of Tax audit. Here one thing is most important to note that the tax payers can file their returns for any assesseement year just after completion of the previous year attached to that assessment year. See for the current assessment year 2014-15 the previous year or accounting year was ended on 31/03/2014 hence the Taxpayers have the right to file their returns on any day on or after 1st. April 2014 but the irony in this respect is that the ITR forms and their utilities are not introduced within time and it takes months to our lawmakers to introduce them. It is a big trouble and this year the problem was more increased due to the fact that the format of Tax audit was changed suddenly and without any notice on 25/07/2014. See here it is natural and reasonable demand of the Tax payers that the date of filing of ITR should also be extended to 30/11/2014 but the logic is given for non extension is that the “Government’s revenue will also postponed for two months” if the ITR date is also extended disregarding the fact that tax payers have already paid 90% of their due tax through Advance Tax and Tax deducted at source. Now there is a question of only 10% of the due tax and for the delay receipt of this tax the taxpayers cannot be blamed because they are not responsible for the Midyear introduction of the Tax audit forms and further for the 25 days black out on the site due to non availability of the utility to upload the tax audit report. It is not logical to pass the interest burden of this delayed revenue on the taxpayers without their fault. Lot of representations have already submitted to the Hon. Finance Minister and to the chairman of the Central Board of Direct Taxes in this respect by the professional and Trade bodies but still the date of filing of ITR is not extended from 30/09/2014 to 30/11/2014 to match it with the date of filing of Tax audit report. Even the apex body of the auditors ICAI has also submitted it’s representations to the Law makers in this respect. It is requested to extend the date of filing of ITR to 30/11/2014 so that the taxpayers can file the audit report and ITR without any problem. इस सम्बन्ध में माननीय वित्त मत्री महोदय को एक ज्ञापन दिया गया था लेकिन अभी भी आयकर रिटर्न भरने की अंतिम तारीख 30/09/2014 ही है जिसे शीघ्र बढ़ा कर 30/11/2014 किया जाए ताकि व्यापार एवं उद्योग वर्ग इसके पालन के लिए पर्याप्त समय मिल सके एवं इस सम्बन्ध में जारी अन्य समस्याओं को भी शीघ्र दूर किया जाए एवं ऐसी व्यवस्था की जाए कि आने वाले वर्षो में ऐसी समस्यों का सामना उद्योग एवं व्यापार वर्ग को नहीं करना पड़े.
Posted on: Sun, 21 Sep 2014 18:19:12 +0000
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