The Hindu Business Line : `Extend time for filing I-T returns till Dec'

THE Associated Chambers of Commerce and Industry of India (Assocham) has urged the Government to extend the last date for filing of income tax returns by another two months i.e. to December 31.

The chamber is of the view that such a move would enable a large number of taxpayers to file their returns electronically and have their assessments done expeditiously.

In a representation to the Finance Secretary, Mr D.C. Gupta, the chamber has held that the formalities regarding registration of e-intermediaries have not yet been completed even as the scheme for e-filing of returns has been notified.

"The due date of filing return in respect of all taxpayers is now October 31 and in the absence of registration of e-intermediary most of the taxpayers are not in a position to avail the benefit of filing return electronically," the chamber letter said.The chamber has said that a large number of taxpayers are keen to avail the benefit of electronic filing of returns so that they can get their returns processed quickly.

Assocham's letter to the Finance Secretary highlighted that the information available from the tax department indicates that an e-intermediary would be in a position to file return electronically only in the month of November 2004.

The letter also said that the extension of due date for filing the return would not affect the revenue collections of the Government as by and large all tax payments are made by way of advance tax or tax deducted at source.

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