KCCI Welcomes Decision Regarding Extension of IT Returns

KL NEWS NETWORK

SRINAGAR

The Kashmir Chamber of Commerce & Industry (Inc) Thursday welcomed the decision of Central Board of Direct Taxes, GoI regarding grant of extension of date of filing the income Tax Returns till end of October 2015, by all the Income Tax assesses across India.

According to a KCCI statement, the Chamber has, however, taken up the issue for three months extension for Income Tax return filing date with the Union Minister of Finance on a different ground through an express communication spelling out the peculiar circumstances that the majority of tax payers from Kashmir are facing due to loss of records in the devastating September 2014 floods.

The Chamber has besides pleading the cause for extension of Income Tax Return filing sought relief in terms of i) Considering the records available with the Income Tax Department for making the assessment and exempting the cases for the scrutiny process ii) Expediting process of making refunds on account of tax deduction at source through special camps to be held for matching Tax Deduction service. iii) Deferring the tax payable and making provision for payment of the same in installments.

The issue was brought to the notice of the Central Board of Direct Taxes earlier through Principal Commissioner Income Tax in a meeting held with on 17^th of September 2015, the statement added.

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