on Jun 15, 2021)MUMBAI: The Central Board of Direct Taxes (CBDT) has relaxed norms relating to e-filing of Forms 15CA/15CB, which are mandatory prior to making outward remittances. Banks have been asked to accept such forms in physical format up to June 30.
The tax board adds that a facility will be provided in the new income tax (I-T) portal to upload these physical forms at a later date for the purpose of generation of the document identification number.
In its June 14 edition, TOI had front-paged a report about this challenge as well as others faced by taxpayers, including India Inc, owing to glitches in the newly launched I-T portal.
As reported, taxpayers were unable to upload these forms on the newly launched portal. Hence, they were unable to meet their payment schedules. Several corporates had to default on their contractual obligations and faced the risk of significant penalties for delayed payments.
How the new income tax portal will simplify matters for taxpayers
With a ‘Help’ section containing useful demonstrative videos, a ‘Chat’ option and helpline numbers, the new tax portal looks taxpayer-friendly indeed. In this video, we list down the new features that the portal introduces.
While Form 15CA is a declaration from the taxpayer that tax has been deducted at source against payment to the overseas recipient, Form 15CB is a certification from a chartered accountant that the provisions of the relevant tax treaty and I-T Act have been complied with.
The CBDT had given advance notice that the erstwhile portal would not function for six days up to June 6. Taxpayers didn’t expect the new portal to throw up so many glitches, including the inability to register.
Ameet Patel, chairperson of the taxation committee at the Bombay Chartered Accountants’ Society, stated, “While it is good that the CBDT had introduced this relaxation for Forms 15CA/15CB, the fact remains that it took them a week to take this step. In the interim, for two weeks (since June 1), remittances have been held up for no fault of taxpayers.”
Patel added that unfortunately piecemeal remedial steps are being taken. “No action has been taken with regards to the ongoing I-T assessments where notices are being e-mailed to taxpayers to comply within a day or two, even though it is impossible to do so as the new I-T portal is non-functional. We certainly expect more from the authorities.”
According to government sources, high level meetings between the finance ministry officials and
— the tech service provider— are likely in the coming days to take stock of the developments in sorting out the various difficulties being faced by the taxpayers.
