Tax Audit due date: Why is #FinanceMinisterMissing trending on Twitter?
New Delhi, Sep 26: This year, again, there have been demands to extend the due date for filing income tax returns (ITR) with tax audit reports for FY 18-19 (Assessment Year 19-20).
Hashtag like #FinanceMinisterMissing #TaxAuditExtendToday was trending in on Twitter, with netizens claiming that the reasons to extend the due date for filing tax audit reports are genuine.
It should be noted that for the past three years, the September 30 deadline was extended by the Central Board of Direct Taxes (CBDT) to remove inconvenience to businesses and tax professionals.
However, the Central Board of Direct Taxes on Thursday announced that the deadline to file income tax returns (ITR), has been extended to October 31.
Under Section 44AB of the Income Tax Act, September 30 is the last date for filing of ITR for all those whose accounts are to be audited like companies, partnership firms, proprietorships, etc. Certain categories of individuals like a working partner in a firm also fall under the ambit.
Meanwhile, according to reports, Sitharaman will be meeting private sector banks, NBFCs and Housing finance companies.
May be this is trick of @nsitharaman to cut corporate tax and then start to charge late fees and penalty from corporate for no reason to balance funds.#FinanceMinisterMissing#TaxAuditExtendToday #taxauditextension @IncomeTaxIndia @ianuragthakur @PMOIndia @narendramodi— Parikshit Ekbote (@parikshit_ek) September 26, 2019
#FinanceMinisterMissing— R.P.R. Financial Services (@RPR_Fin_Service) September 26, 2019
Dear Mam @nsitharamanoffc never has been the fraternity which is a crucial link between business owners & govt so helpless & desperate, please listen to the voice of nation, we require at least 2 months to deliver quality results, please extend #TAR https://t.co/9DGpTSNZYh
SME Business and Small Practicing CAs are not heard by @IncomeTaxIndia— Taxing Bitch (@bitchfrommumbai) September 26, 2019
Our yesterday request to extend Tax Audit due date is not heard. Is #FinanceMinisterMissing? Use & Tag & Comment
Please announce extenstion Today @nsitharaman @PMOIndia @narendramodi
When it comes to reminder to File ITR or send notices, IT Dept sends them even at nights,— Indian OSINT Division (@Ruthlessindia) September 26, 2019
When businesses facing problems, the Finance Minister, IT Dept goes missing
You are only hope now @PiyushGoyal@Swamy39#FinanceMinisterMissing