The All India Cost Management Accountants Association (AICMAA) made a request to the finance ministry for a permanent extension of the Income Tax Returns (ITR) filing due date from 31st July to 31st August.
AICMAA is the singular national association dedicated solely to the well-being and progress of the CMA (Cost Management Accountants) community. It consists of Cost Accountants who are also members of The Institute of Cost Accountants of India (ICMAI) and has its headquarters in Delhi. The majority of the association’s members specialize in taxation as Management Accountants, with a particular focus on handling intricate inventory valuation matters.
The letter states that “We are writing and requesting on behalf of the Tax Payers and Tax Professionals of this country that there is a urgent need to extend the due dates for filing income tax returns for individuals and further keep due dates practical so that it provides adequate time at the disposal of taxpayers to file return with necessary due diligence.”
The association put forward some concerns which has to be considered by the ministry on behalf of all the taxpayers and professionals:
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Lastly, the association also raised concerns about the challenges posed by the monsoon season, including floods that disrupt internet connectivity and hinder mobility. Moreover, the frequent technical issues in the E-Portal, which has around 6.5 crore tax filers, were cited as a significant contributing factor to the difficulties faced.
The association mentioned that “Therefore, effective time available at the disposal of tax payers is not even 30 days and in this very short period to gather various information, obtains documents from third party and then do calculations, reconciliations etc. becomes rushing just like bulls in china shops and in the long run it may likely to adversely impact on the veracity & sanctity of the ITR in the general public minds.”
Based on input from tax filers and tax professionals, the association appealed to the ministry to permanently extend the due date from 31st July to 31st August.
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