Did you lose sleep waiting for ITR deadline extension?

Tyasuite10 Sep, 2020Business

At Eleventh hour, we realise that it is impossible to close the audit and file the ITR. The finance, audit and tax teams start praying that the CBDT extends the deadline. The tension is more when you have a substantial amount of losses to carry forward. After few sleepless nights and countless rumours, the CBDT decides to extend the due date. We start celebrating and file the ITR in the next few days and completely forget about it. Year after year the same thing repeats and we start blaming the accounting and finance department and auditors for their failures.