Monday, 22 September 2014

Gujarat High Court orders CBDT to extend due date

Judgement on writ petition filed regarding extension of filing of Income Tax Return for FY 2013-14 has been delivered.

CBDT has already extended due date for filing of Tax Audit Report from 30 September to 30 November 2014. However, due date to file tax returns were not extended citing loss of Revenue to the Department.

The Gujarat HC in its judgement has ordered CBDT to extend the due date by arriving at a middle ground stating interest under section 234A would be levied if due taxes are paid after the original due date.

The action of CBDT on this judgement will be awaited with much enthusiasm, whether it provides fair extended due date to taxpayers or goes into Appeal against this judgement!

No comments:

Post a Comment