It is learnt that the Union Finance Ministry has made it mandatory for Tax assesses to submit their Annual Tax returns by July 31 every year. It is also learnt that any delay will entail a hefty fine.
I would like to bring to the notice of the Union Finance Minister, that it must also be made mandatory for the Banks and other Institutions like Post Offices, to furnish the Annual/Quarterly Tax Deduction certificates/Interest Certificates to the concerned Tax Assesses by April 5 every year, without the need for any application on the part of the assessee and without the need for multiple visits to the Bank to obtain the certificates. At present, the messenger of a Very Senior Citizen has to make at least three visits to the Bank – 1. To collect the application form, 2. To submit the duly filled form and 3. To collect the relevant documents. Or even a fourth and a fifth visit, because the documents will not be ready even till the end of May.
Such inconvenience and harassment should be avoided. Why should the Assessee get less than two months – when documents are made available only after end of May – to prepare his Annual Return and make sure he submits it before 31 July?
The certificates should be dispatched to the Assessees last known postal address by April 5 every year. Alternatively, Assessees can be given the option to collect the Certificates from their respective Banks – from April 5 onwards.
It should also be made mandatory on Post Offices to ensure the prompt delivery of such missives.
In this age of digitalisation, there is no need for Bank holidays for half-yearly and Annual closing of accounts as the accounts can be finalised by the click of a mouse (and I got this straight from the mouth of a Bank Manager). There is no longer any manual writing of ledgers. All accounts are digitally maintained.
The Union Finance Ministry may kindly not enforce a one way rule for the Assesses without ensuring similar mandatory rule for the institutions coming under it, like Banks (both Public Sector and Private Sector) and Post Office Savings Banks, in the interest of the honest tax payers.
I request the Union Finance Minister to kindly take note of this lacuna and take immediate remedial measures, thus avoiding hassles and harassment of the Tax Assesses, specially the honest tax payers.
