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Friday, Oct 22, 2004

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ICAI advises members to adhere to Oct 31 deadline for returns

K.R. Srivats

New Delhi , Oct. 21

WITH no positive response from the income-tax department for extending the October 31 deadline coming its way, the Institute of Chartered Accountants of India (ICAI) has advised its members to complete their tax audit assignments and ensure that returns are submitted before expiry of due date.

Based on the requests of many members, the ICAI had recently represented to the Central Board of Direct Taxes (CBDT) that the due date of October 31 for filing of tax audit returns be extended.

"As of now, no positive response has been received from CBDT on our representation. We have, therefore, advised our members to go ahead and complete their tax audit assignments. They have been advised to file tax audit returns within the due date," an ICAI council member said.

The ICAI had cited a number of reasons including the upcoming holidays during the current festive season for extending the last date for filing of tax audit returns.

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