Covid-19 Pune: Chartered Accountants demand extension for Audit and ITR filings

Pune:  The Institute of Chartered Accountants of India has demanded that the deadlines for payment audit and filing Income Tax Returns should be extended by the government. “Chartered Accountants are under tremendous pressure even during a pandemic like Covid-19. Chartered Accountants have the right to work in a safe environment. Hence the deadline for payment of audit and income tax returns filings should be extended till March 31, 2021,” said Abhishek Dhamane, Chairman of Pune Branch of ICAI.

CA Abhishek Dhamane said, “Finance Minister Nirmala Sitharaman has been decisive and taken timely action to extend various due dates of Direct and Indirect Taxes in the initial period of lockdown. In this current pandemic situation, there are tremendous challenges being faced by Chartered Accountants to complete the Company and Income Tax Audit.”

“Generally for CA’s the peak audit season is between April to September. However, this year is exceptional and the lockdown was extended until the end of July 2020. Now although things are returning to normalcy, CAs have also resumed their offices. But many of the staff members who are out stationed, have not returned to their respective workplaces. Many clients are not ready for online or virtual audits. Most of the Income Tax Forms were released in the month of September and October 2020. As per the Income Tax website, only 32 per cent of returns have been filed as compared to last year as of 30 September 2020. Also, due dates for holding Company Annual General Meeting dates have been extended to Dec 31, 2020,” he added.

Dhamane demanded that considering the above facts and statistics it is pertinent to extend the Income Audit due Dates and Income Tax Return. I feel painful looking at how many elderly CAs are risking their lives by going to offices assuming Audit dates will not be extended. It will not be in the interest of humanity to hold such an extension until the last day. In such times more importance must be given to lives than compliance.

Dhamane said, “Accordingly, a plea is being made to extend the Income Tax Audit Dates by Feb 28, 2020 and Income Tax Return to Mar 31, 2020. CA’s are partners in nation building and are always committed to playing our roles. I am hopeful concerned authorities will show decisiveness to deal with the situation and announce the extension of Income Tax Audit and Return in a timely manner.”

Leave A Reply

Your email address will not be published.