The Hindu Business Line : I-T returns can be filed on Nov 1

THE Central Board of Direct Taxes (CBDT) has directed its field formations to make arrangements for accepting returns of income from corporate and other assessees on both October 30 and 31 even though these two days are holidays.

The income-tax department had already specified October 31 as the last date for filing of tax audit returns as well as returns that are filed under the one-by-six criteria for the assessment year 2004-05.

The board has now in an administrative order, directed that returns filed on November 1, would also be accepted and deemed to have been filed within due date.

An income-tax expert pointed out that the move to accept returns filed on November 1(the next working day following October 31which is a Sunday and a holiday) as returns filed within the specified time-limit is a fallout of the CBDT's own circular that was issued in November 1992.

After clarifications were sought as to whether an assessee could file a return of income/loss under the Income Tax Act on the next working day following a holiday and claim it to have been filed within the statutory time-limit, the CBDT held that Section 10 of General Clauses Act 1897 would be applicable in such a situation.

The board then clarified that "where the last day for filing return of income/loss is a day on which the office is closed, the assessee can file the return on the next day afterwards on which the office is open and, in such cases, the return will be considered to have been filed within the specified time-limit."