I need 50k RTs to make our voices heard on the tone deaf ears of our leadership and CBDT
TAX AUDIT DUE DATE EXTENSION IS OUR FAIR DEMAND AND NOT BEGGING.
EXTEND DUE DATE NOW! 🙏🏻
@AashishPS The Small Cap FOF is an excellent concept Sir but how do we deal with the portfolio overlap in case of the funds selected for investment by our FOF
Help Chartered Accountants today.
They will help you tomorrow.
@IncomeTaxIndia - this is the last Tax Audit cycle under the Income-tax Act, 1961.
From the next audit cycle, Chartered Accountants will be working under the new Income-tax Act, 2025, with new provisions, new forms, new reporting requirements and a new compliance environment.
There will inevitably be a learning curve. There may be changes in forms, utilities, reporting mechanisms and portal functionality. During this transition, the Government will need the support, cooperation and patience of Chartered Accountants across India.
And the profession will deliver that support - as it always has.
But goodwill works both ways.
Permanently shifting the Tax Audit due date to 31 October, starting from this year, would be a simple and meaningful gesture towards the CA fraternity.
It would:
• Give adequate and predictable time for completing quality audits
• Reduce last-minute compliance pressure
• Improve the quality of tax-audit reporting
• Support smoother implementation of the new Act
The Government has already shown that timelines can be rationalised in the interest of taxpayers and ease of doing business.
Now, help CAs today - they will help you tomorrow.
@IncomeTaxIndia
Make 31 October the permanent Tax Audit due date.
It would be a small decision today, but a powerful message of trust, cooperation and partnership with the profession.
My heart is 100% sure that the Tax Audit Due Date will be extended.
I have received so many messages from fellow CAs who are genuinely panicked and stressed about the Tax Audit deadline.
Let’s be practical.
The non-audit ITR deadline was 31st August this year, and the Tax Audit work effectively starts thereafter. Expecting professionals to complete the entire Tax Audit exercise for all their clients within just 30 days is simply not practical.
This is not about anyone wanting to delay work or avoid responsibility. We are working day and night. But the practical challenges of this year are real, and many of them were beyond the control of professionals.
My only concern is the late extension notification.
If the Government has to extend the deadline, please announce it well in advance so that thousands of professionals can plan their work instead of working under unnecessary anxiety and uncertainty.
We don't deserve this level of stress after putting in everything we have during the ITR season.
To all fellow CAs feeling overwhelmed right now... stay calm.
Keep working. We will get through this like always. 🤝🙏🏻
@CAAditiBhardwaj Its absolutely true and pushing ITR 3 and 4 deadline to August without pushing the date for TAR beyond 30th September adds to the misery