Income Tax: ICAI Seeks Penalty Waiver On Late Audit Reports
The Institute of Chartered Accountants of India has written to the Central Board of Direct Taxes seeking waiver of penalty on late filing of tax audit reports.
In a letter dated Jan. 6 to the chairman of Tax Department, the ICAI has requested waiver of penalty fees and other consequences for furnishing of Report of Audit under IT Act for A.Y. 2021-22 after Jan. 15, 2022.
The body cited the consistent technical glitches and unavailability of certain forms as major reasons for requesting the waiver.
"Issues like non-availability of Form No. 3CEB and difficulties in filing forms like 10C and 10B are still continuing. Taxpayers are finding difficulties in completing data for completing accounts, confirmations, reconciliation and prepare inputs for compiling tax audit report," it said in a statement.
In a separate joint representation, several prominent CA associations including from Karnataka, Mumbai, Chennai, Lucknow and Ahmedabad wrote to the Finance Minister and the CBDT requesting an extension for filing income tax returns and tax audit reports.
The associations highlighted issues with logins, one-time passwords, non-availability of ITR acknowledgements, non-registrations of new assessees and digital signature certificates, among others.
Last week, the Surat Chartered Accountants Association moved the Gujarat High Court asking it to direct the revenue department to not levy interest on belated filings, especially since the CBDT itself has extended filing deadlines on several occasions due to glitches in the e-filing platform.