Number of Returns and payment schedule should be curtailed
Even in the e-filing era, the assessees are overburdened with the compliances to be made with regard to filing of returns and payment schedules. An assessee is required to file quarterly returns relating to TDS on salaries,For the convenience of the tax,payers it is suggested that the number of returns and payment schedule to be filed by the assessee should be curtailed appropriately.
Quarterly returns relating to TDS on amounts other than salary, and quarterly returns relating to TCS. These are in addition to the Income tax return form which is to be filed on annual basis. Due to errors in the punched data or for some other reason, the assessee is required to file correction statements or revised return which is also a cumbersome process.
Apart from this there is a payment schedule to be followed in respect of TDS/TCS, advance tax, Self assessment tax and so on. This is too cumbersome.
Extension of time limit for filing of TDS Return
As the filing of e-TDS returns is an onerous task, it is very difficult for assessees to collate and compile all the voluminous data/information for filing of TDS returns within 15 days from the end of the relevant quarter. Further, as the payment challans from banks reach the deductors by 10th of the next month, it become all the more difficult to file returns within a short span of time.
It is suggested that due date for furnishing of the TDS returns may be extended to 30 days from the end of the quarter instead of 15 days.
Challan correction mechanism
Considering the fact that several mistakes were being reported which occurred on account of wrong punching of data in the OLTAS by the banks, the CBDT introduced a new challan correction mechanism for paper based payments of income tax.
The said system has been appreciated by the assessees. Since, inadvertent mistakes can occur while paying the income tax online also, it is felt that challan
It is suggested that challan Correction Mechanism be made applicable to all types of challans including challans for online payments, payments of wealth tax etc.
Difficulties in obtaining old paper refunds
Presently, the refund, if exceeds Rs. 1 lacs requires approval from the higher authorities. Apart from these, re-issue of old paper refunds, already issued by the department before the implementation of Refund Banker
Scheme but not received by the assessee, also requires approval from the higher authorities. The second part of the administrative steps in refund cases have become very cumbersome procedures and at the same time
also increases the responsibilities of the higher authorities. Moreover, refunds in such cases often delayed by more than 6 months inspite of furnishing of bank pass book and the indemnity bond by the assessee in support of refund not received by them.
To handle such cases, it is suggested that once the return has been processed by CPC, the file should be transferred to respective Assessing Officer, with whom the assessee can interact to resolve the issues in the processing of return, non receipt of refund cheque and so on.