The%20plight%20of%20the%20coronavirus%20pandemic%20has%20been%20a%20hard%20hit%20for%20the%20economy.%20The%20Indian%20economy%20has%20been%20suffering%20a%20lot%20and%20along%20with%20it%2C%20individuals%20and%20companies%20are%20suffering%20too.%20In%20the%20light%20of%20the%20damages%20caused%20by%20the%20pandemic%20to%20the%20economy%2C%20direct%20tax%20professionals%20have%20requested%20Finance%20Minister%20Nirmala%20Sitharamam%20to%20extend%20the%20due%20dates%20of%20paying%20Income%20Tax%2C%20tax%20audit%20report%2C%20income%20tax%20returns%20for%20audit%20cases%2C%20and%20the%20time%20limit%20for%20AGMs%20%28Annual%20General%20Meetings%29.%26nbsp%3B

The%20tax%20audit%20report%20has%20been%20requested%20to%20extend%20by%20February%2028%20and%20the%20due%20date%20of%20filing%20of%20income%20tax%20returns%20of%20the%20assessment%20year%202020-21%20in%20audit%20cases%20to%20March%2031%2C%202021.%20The%20pandemic%20has%20slowed%20down%20many%20businesses.%20That%20was%20the%20justification%20given%20for%20extension%20by%20the%20Direct%20Tax%20Professionals%20Association%20%28DTPA%29%20president%20N%20K%20Goyal%2C%20PTI%20reported.

Also%20Read%3A%20%3Ca%20target%3D%22_blank%22%20rel%3D%22noopener%20noreferrer%22%20href%3D%22https%3A//opoyi.com/itr-2020-heres-how-to-file-your-income-tax-returns%22%3E%3Cstrong%3EITR%202020%3A%20Here%27s%20how%20to%20file%20your%20Income%20Tax%20Returns%21%3C/strong%3E%3C/a%3E

Out%20of%205.25%20crore%20assessees%2C%20some%203.75%20crores%20have%20already%20filed%20returns.%20However%2C%20the%20ones%20who%20have%20not%20yet%20filed%20returns%20are%20mostly%20firms%20and%20companies.

The%20DTPA%20has%20also%20sought%20an%20extension%20for%20the%20filing%20of%20declaration%20under%20the%20%27Vivad%20Se%20Vishwas%27%20scheme.%20The%20Finance%20Minister%20had%20introduced%20this%20scheme%20earlier%20this%20year%20to%20settle%20disputes%20regarding%20pending%20tax%20payments.

Mamta%20Binani%2C%20the%20former%20president%20of%20the%20Institute%20of%20Company%20Secretaries%20of%20India%2C%20has%20suggested%20that%20the%20last%20date%20to%20hold%20AGM%20be%20extended%20to%20March%2031%2C%202021.%20She%20also%20added%20that%20gaps%20between%20two%20meetings%20be%20allowed%20for%20up%20to%2021%20months.

Also%20Read%3A%20%3Ca%20target%3D%22_blank%22%20rel%3D%22noopener%20noreferrer%22%20href%3D%22https%3A//opoyi.com/mumbai-bench-of-itat-announces-tax-benefits-in-selling-two-properties-and-reinvesting-in-one%22%3E%3Cstrong%3EMumbai%20Bench%20of%20ITAT%20announces%20tax%20benefits%20in%20selling%20two%20properties%20and%20reinvesting%20in%20one%3C/strong%3E%3C/a%3E

The%20deadline%20to%20file%20income%20tax%20returns%20by%20individual%20taxpayers%20is%20December%2031.%20Already%204.37%20crore%20income%20tax%20returns%20for%20the%20fiscal%20year%202019-20%20have%20been%20filled%20as%20of%20December%2028.%20With%20only%20a%20few%20days%20to%20go%20for%20the%20deadline%2C%20the%20tax%20department%20has%20requested%20payers%20to%20file%20their%20returns%20soon.%20The%20deadline%20for%20taxpayers%20whose%20accounts%20need%20to%20be%20audited%20is%20January%2031%2C%202021.

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