New Delhi: Rajya Sabha MP ND Gupta of the Aam Aadmi Party (AAP) wrote to Finance Minister Nirmala Sitharaman on Sunday, requesting an extension in the tax audit filing deadline for the current fiscal year.
The Delhi MP wrote in his letter, "In light of the unprecedented COVID-19 circumstance, I respectfully request that you please extend the deadline for filing the Tax Audit Report u/s 44AB of the Income Tax Act 1961 to a later date, as advised by NITI AAYOG/Health Ministry. Extension of the time restriction will not result in a loss of money for the government, and taxpayers will comply perfectly with the audit report and return."
"India is dealing with an acute third wave of COVID-19," he continued, "and has seen a significant increase in COVID-19 cases from active cases of 77002 with a positivity rate of 0.79 percent on December 29, 2021, to current active cases of 590611 with a positivity rate of 10.21 percent on January 9." He went on to say that modifications to the tax filing form are causing problems for SMEs.
He mentioned, "SMEs have expressed worry to me about changes made by the Central Board of Direct Taxes (CBDT) to the application for reporting audited information, i.e. form 3CD-Schema ("Tax Audit Schema"), in which the Tax Audit Report must be filed electronically. The Tax Audit Schema was updated three times in the last two months, on November 3rd, December 2nd, and January 6th, 2022."
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