Four reasons why tax returns filing deadline should be extended
What's the story
The deadline to file income tax returns this year is July 31. For a change there is no late filing fine this time.
However, this year has been marked by several drastic changes in the procedure and steps to be followed.
Here are four reasons why the government should consider extending the deadline this time.
Reason 1
Deadline was extended for banks, deductors to issue Form 16A
This time, the CBDT changed the rules for filing TDS returns by banks and other deductors, including extending the deadline.
So the deadline for issuing Form 16A to taxpayers also automatically got extended from May 31 to June 15.
Many took advantage and issued Form 16A right before June 15, thus giving less time to taxpayers to file returns.
Reason 2
Deadline for employers to issue Form 16 was also extended
In a notification dated June 2, the finance ministry extended the deadline for employers to issue Form 16 by 15 days, till June 15. This affected all salaried employees.
So despite the I-T department issuing new ITR forms on April 1, much earlier than previous years, many couldn't file their returns as they had to wait for their TDS certificates.
Reason 3
Mandatory Aadhaar-PAN linking hit by obstacles
From this year, linking Aadhaar to PAN has become mandatory for most. But the process has been hit by roadblocks: mismatch in details, unavailability of Aadhaar registration facilities etc.
It takes 10 days on an average to update details of Aadhaar. Most didn't have 10 days left before July 31.
Till now, only 2.67cr of 6.09 registered taxpayers have linked Aadhaar with PAN.
Information
Reason 4: Arrival of GST kept CAs busy
This time, with the recent launch of GST, chartered accountants are busy assisting their business clients in adjusting to the new regime. Naturally, they aren't being able to spare much time for individual taxpayers. So people need relief in terms of tax returns filing deadline.