Request to extend date of ITR filing

Request to extend date of ITR filing

All India Federation of Tax Petitioners (AIFTP) has recommended the Central Board of Direct Taxes (CBDT) for extension of date for income tax return filing this year. It pointed out that the due date on September 30 is a Sunday. AIFTP said CBDT should issue a clarification as it did in 1992.
The half-yearly bank holiday on September 29 also created further problems in payment of taxes, AIFTP said in a release. There are other problems too such as unfamiliarity with introduction of a new Schedule (VI) to the Companies Act and delay in getting digital signature.

“The Chartered Accountants are taking more than the usual time
in auditing the accounts owing to introduction of the Schedule that requires the accounts to be prepared in a new format”,
the tax professionals’ body said. “In many cases where the digital signature is a must, and the validity of such signature has expired or if it is a new return, the authorised dealers are taking considerable time of 2 to 3 days in making allotment of digital signature,” said AIFTP.

It also mentioned that tax payers in flood affected States are facing problems in filing returns.

promises tax refund in three months

The Central Board of Direct Taxes (CBDT) today said it has
reduced the time period for tax refunds to three months and would
take steps to release arrear payment as fast as possible.
"We have brought down time for refund...Timing of rectification at
the Central Processing Centre (CPC) level has been brought
down to 3 months and so," CBDT Chairperson Poonam Kishore
Saxena told reporters here.
"Arrears are going to be released. From September 3, we have
started demand correction fortnight. Adjustment would be done in
a short while," Saxena said.
She admitted that due diligence was missing in some cases and the department would try to sort out the problems.
Saxena also said in the last five years, the number of refunds disbursed by the Income Tax India department stood at 35.20
crore, out of which 20.61 crore refunds were done through bank facility.
In the current financial year as on August 2012, the number of refunds disbursed stood 33.51 lakh, out of which 33.15 lakh
refunds were executed through bank facility.
In case of refund bank facility, refund directly goes to account of concern assessee.
Saxena said the target for direct tax collection of Rs 5.70 lakh crore for the current financial year would be met.
"The department is going on massive computerisation drive. We want to be identity blind. Attempts are to reduce
interaction so that grievances are minimised," she said. (