Extend deadline of filing Income Tax Return from 31 July to 31 August
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The due date for filing Income Tax Return for assessee is 31 July, other than for assessee whose accounts are to be audited. There are 60% of assessee who falls in this category who require to file returns before 31 July 2017.
This year GST is introduce from 1 July and most SMEs and MNC are finding it difficult to study, implement and apply new law. The staff are working 18 hours a day to meet implementation requirements and deadlines.
Further the professional like chartered accountants are helping client to implement, assist and interpret law. Usually this time during last year, all professionals are busy in finalizing and submitting IT returns. However due to GST implementation the finalization of accounts are pending for many small businesses. Even there is shortage of staff as they have to handle both GST implementation as well as closure of last year accounts.
In such a scenario we request Finance Minister Arun Jaitley to extend the deadline for filing Income Tax Returns from 31 July to 31 August and notify the same as early as possible so there can be proper time given for smooth transition for GST and easy of filing returns and professionals can give justice to both
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