The Institute of Chartered Accountants of India has written to the Central Board of Direct Taxes looking for waiver of penalty on late submitting of tax audit studies.
In a letter dated Jan. 6 to the chairman of Tax Division, the ICAI has requested waiver of penalty charges and different penalties for furnishing of Report of Audit underneath IT Act for A.Y. 2021-22 after Jan. 15, 2022.
The physique cited the constant technical glitches and unavailability of sure varieties as main causes for requesting the waiver.
“Points like non-availability of Kind No. 3CEB and difficulties in submitting varieties like 10C and 10B are nonetheless persevering with. Taxpayers are discovering difficulties in finishing knowledge for finishing accounts, confirmations, reconciliation and put together inputs for compiling tax audit report,” it stated in a press release.