LocalCircles requests Finance Minister to extend income tax audit filing deadline to Nov 30th, 2019
- • 50% startups and SMEs in LocalCircles survey said it will be difficult for them to file by the Sep 30th date
24th September 2019, New Delhi: LocalCircles has been working to bring out various issues faced by citizens, startups and SMEs in the country. Lately, the SME and startup community has been expressing on the LocalCircles platform, the need for CBDT to extend the income tax audit deadline of Sep 30th.
LocalCircles conducted a poll amongst 4,956 startups and SMEs to get their pulse on this issue. The results of the poll show that 50% SMEs & startups who were surveyed, say it will be difficult for them to meet the income tax audit return deadline of September 30, and want this deadline to be extended to November 30, 2019.
50% startups and SMEs say it will be difficult for them to meet the income tax audit deadline of Sep 30th date, request extension till Nov 30th
Many small businesses have experienced a slowdown for majority part of this year and are right now trying to do their best and prepare themselves for the upcoming festive season, ensuring enough production, supplies and demand generation. The small business, startup and SME community has expressed that it will be best served if at this particular time they did not have to focus on compliances and paperwork.
Considering that half of startup and SME community members are saying it will be difficult for them to meet the September 30th deadline, LocalCircles has written to the Hon’ble Finance Minister on their behalf and has requested her to consider extending the deadline for this filing till 30th November 2019.