Click to play videoMumbai: Corporates can heave a sigh of relief. The Central Board of Direct Taxes has finally extended the deadline for filing E-returns by a month.
Even though Diwali is over, chartered accountants can still burst a few crackers. That's to celebrate the extension of an E-filing deadline. Over the past few weeks’ chartered accountants have been spending sleepless nights, grappling with new E-filing software.
And now even though the E-filing deadline has been extended to November 30, CAs are still bitter over missing the Diwali festivities.
Chartered Accountant Narayan Varma says, “I would say at last it has come which was expected much earlier specially because of the Diwali festival days. But anyway something is better than nothing."
The Finance Ministry made it mandatory for companies to file returns electronically and manually.
But CAs complain the process was set in motion less than a month ago, making it impossible to comply with the looming October 31 deadline.
Besides many found the E-filing software user-unfriendly. But now, with the extension, CAs say they will ensure the success of the E-filing initiative.
Only 23,000 E-returns have been filed so far. That's against almost 4 lakh manual returns filed in 2005.
The month-long extension will give CAs and companies breathing space and a welcome start to the New Year.
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