25% growth in number of Income Tax Returns filed in current fiscal Advance Tax (Personal Income Tax) collections up by 41%
Top stock exchange NSE has decided to extend the deadline for submission of annual returns for fiscal 2016-17 by trading members to October 31.
Earlier, the bourse had asked the trading members to submit their respective annual returns by September-end.
"Members are requested to note that the last date for submission of Annual Returns for the financial year 2016-17 is extended till October 31, 2017 as the last date for filing of income-tax returns has been extended till October 31, 2017 by CBDT vide its notification dated August 31, 2017," NSE said in a circular today.
"Accordingly, all members who have not made submission are requested to ensure that they submit complete documents in the prescribed formats, as applicable, on or before October 31, 2017 in order to avoid any late / non-submission charges," it added.
Annual Returns, which includes balance sheets, are required to be submitted only by way of upload in electronic format through the exchange's ENIT (Electronic NSE Interface for Trading Members) system.
In an earlier communication, NSE had also asked members to provide four additional financial details as prescribed under enhanced supervision guidelines.
These details are on advance/margin/collaterals from customers, inter-corporate deposits given, value of investments or advances or loans in group companies or associates or firms or entities and value of maximum outstanding inter corporate debts given during the year.
As per norms, delay in submission of annual returns attract a penalty of Rs 100 per day of delay for the first month after due date till the date of submission.
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