As after the of the COVID-19 pandemic, the Nagpur Chamber of Commerce Limited (NCCL) has recently urged the Union Finance Minister Nirmala Sitharaman for further relaxation in provisions of Section 139 (1) and 44AB of the Income-Tax Act, 1961 by granting extension of due date and specified dates respectively i.e. from December 31, 2020 and January 31, 2021 to March 31, 2021 for the assessment year (AY) 2020-21.
In a statement released by former President and office-bearer of NCCL Kailash Jogani said that many trade associations and the Institute of Chartered Accountants of India (ICAI) had made representation to the Government for the said extension of various dates of compliances under the Income-Tax Act, 1961, The Direct Taxâ€˜Vivad Se Vishwas Act, 2020, The Companies Act, 2013, and the Goods and Service Tax Act, 2017. Recently the Government had announced that the Winter session of the Parliament has been called off in view of the Coronavirus pandemic. Traders, industrialists and businessmen may find difficult to cope with the present situation and therefore Government should also be given extension of due dates for filing compliances. Trade and industry are already facing hardship in their respective business.