Friday, March 29, 2024

Businessmen should be allowed three months to file returns and deposit loan installments

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Chhattisgarh Chief Minister Bhupesh Baghel has urged the Central Government to provide relief to small and medium businessmen of the state. The CM has demanded a three-month extension to the businessmen to file returns and deposit the loan installment. On the request of the Chamber of Commerce and Industries, the Chief Minister has written a letter in this regard to Union Finance Minister Nirmala Sitharaman. In the letter, the CM said that in view of the infection of Corona, a containment zone (lockdown) has been declared in the state from April 9 to May 6 as the last effective step to stop the second and more deadly wave. Due to this, economic activities and trade-off in the state is almost closed. Due to this, economic crisis has arisen in front of small and medium class businessmen in the state. In a letter to the Union Minister, Baghel has stated that due to April being the first month of the financial year 2021-22, the dates of many compliance in the TDS and TCS Act are fixed. At such a time, it is not possible for businessmen to reconcile their accounts and submit different types of returns within the stipulated time frame. Various employees working in their offices, establishments such as accountants, data entry operators, management staff etc. are either in home isolation or in hospital due to being infected with Kovid. Similarly, various tax advisors of businessmen like chartered accountants, company secretaries, tax advisors etc. are also unable to provide their services due to being infected by this epidemic. Keeping in view the above circumstances, it is requested that the various dates of April and May be extended for the next two months.

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