Latest news with #Amonkar
Time of India
19-05-2025
- Business
- Time of India
GCCI requests extension of tax filing deadline due to portal delay
Panaji: Given the delay in notifying the income tax return (ITR) forms and the tools required to file tax returns, the Goa Chamber of Commerce and Industry ( GCCI ) has written to finance minister Nirmala Sitharaman to consider extending the deadline for individuals to file their taxes. The current deadline for salaried and non-audit taxpayers to file tax returns is July 31. 'Tax utilities should ideally be made available at the beginning of the financial year. Given the delay, we request their immediate release. Additionally, extensions, if necessary, should be announced well in advance to enable taxpayers to plan their filings efficiently,' said GCCI director general Sanjay Amonkar. The income tax department usually notifies the forms either before the end of the financial year or in April, which is the start of the assessment year. GCCI pointed out that the ITR forms for the assessment year 2025-26 were notified only recently, and the tools to aid taxpayers in filing their taxes are yet to be operationalised, thus hindering taxpayers from preparing and filing their returns on time. 'The late release of the income tax utilities could make it difficult for taxpayers to complete the submissions in time and could result in rushed filing and errors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo Taxpayers should not be subjected to penal costs for delayed return filing caused by the late release of the necessary utilities,' said Amonkar. He noted that the current year's filing requires detailed disclosures, particularly concerning changes in capital gains provisions. The late release of utilities could lead to rushed filings and errors. 'The late release of the current year's utilities could see much heavier traffic in the upcoming days. We trust that, once released, the utilities will remain stable and glitch-free,' Amonkar said. He has also shared the industry body's concerns with the chairperson of the Central Board of Direct Taxes, Ravi Agrawal.
Time of India
10-05-2025
- Business
- Time of India
GCCI seeks fair power supply, cites disparity
Panaji: The Goa electricity department 's business plan reveals a stark mismatch in sectoral earnings and equitable power supply. According to the plan presented before the Joint Electricity Regulatory Commission (JERC), industrial users form only 1% of the consumer base but generate 49% of the revenue for the department. In contrast, domestic users constitute 79% of the consumer base but contribute just 31% of total revenue to the department. 'Despite this, industrial consumers are often the first to face supply curtailments during load restrictions. This approach appears inequitable and calls for a more balanced load management strategy that considers the disproportionate contribution of industrial consumers to the overall system revenue,' said Goa Chamber of Commerce and Industries (GCCI) director general Sanjay Amonkar . Operation Sindoor Pak drones enter Indian airspace, explosions heard just hours after truce deal Sirens, explosions in border districts after Pak breaks deal: What we know so far 'What happened to ceasefire?' J&K CM after explosions heard across Srinagar The GCCI has conveyed its concern to the JERC and the electricity department about the differential treatment accorded to industrial consumers. The electricity department gave its business plan and tariff proposals to JERC. however, the JERC came up with a new supply tariff structure and told the department to amend its business plan and tariff plans. The GCCI also urged govt to explore alternate sources of power generation to meet the deficit in power supply during peak hours. These initiatives could include battery storage for renewable power, pumped storage, mini and small hydro units, and long-term power purchases. 'Goa is short of peak power, and it procures it at a high cost. A few options for Goa may involve R&D, but it is worth having a look at,' said Amonkar. The GCCI said that the electricity department has not created contingency plans for power supply during an emergency. 'This has not been explicitly provided for in the business plan. Goa needs to have a backup supply plan to cater to crisis situations,' said Amonkar.
