Saturday, January 22, 2022

Singhbhum Chamber of Commerce and Industries writes to finance minister, demands extension of date for tax audit

Jamshedpur, Jan 6: Singhbhum Chamber of Commerce and Industries has written a letter requesting Finance Minister Nirmala Sitharaman to the Government of India to extend the date for tax audit under Section 44AB from January 15 to March 31, 2022. Vijay Anand Moonka, president, Singhbhum Chamber of Commerce and Industries said that as we all know that the third wave of corona is spreading rapidly and the number of people affected by it is increasing in most states.

Most of the states have already imposed a lot of restrictions and other states are planning to do partial lockdown. Since many employees are involved in audit work such as accountants, firm team, auditor team, working staff and chartered accountants. If any of the above personnel is unavailable or sick, then the whole process gets delayed and in the current situation due to the third wave of Covid, any of the above personnel or their family members get corona positive. In such a situation, it will be very difficult to comply with the tax audit within the stipulated date of January 15. He said that the date of tax audit under section 44AB should be extended till March 31, 2022 in the national interest. Singhbhum Chamber of Commerce and Industries Honorary General Secretary Manav Kedia, Vice President Tax and Finance CA Dilip Golchha, Secretary Tax and Finance Piyush Choudhary expressed hope that the demand of the Chamber would be taken care of by the Finance Minister.

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