FM Nirmala Sitharaman told to extend ITRs, tax audit and AGM time frame

Direct tax professionals have sought extension for tax audit report, income tax returns for audit cases and time limit for AGMs in the wake of the ongoing pandemic scenario. 

The Direct Taxes Professionals Association (DTPA) has urged Finance Minister Nirmala Sitharaman for extension of date of furnishing of tax audit report under section 44AB to February 28 and the due date of filing of income tax returns of assessment year 2020-21 in audit cases to March, 31, 2021.

Due to the corona pandemic normalcy in operations is yet to set in. Even many professionals as well as their staff have suffered infection from Covid-19. 

Therefore, there is need for extension of dates for furnishing tax audit reports and ITRs, DTPA president N K Goyal said in their recent submission to the government.