A city-based traders’ forum in a letter to Minister of Finance and Corporate Affairs Nirmala Sitharaman has requested to extend the date of depositing installment of advance Income Tax from March 15 to March 20. Industrialists have said the adverse impact of coronavirus on their day-to-day working had brought their businesses to a standstill and they had been finding it difficult to arrange money for paying the installment of the advance tax. Besides, the traders have also said three bank holidays in a week would pose a problem for them.

The letter sent to the minister reads: “You are aware that there are three holidays in the week preceding before March 15 — i.e. March 10 on Holi, March 14 bank holiday due to second Saturday and March 14, Sunday. Hence, it will not be possible for tax payers to arrange funds for the installment of the advanced tax.”

The letter further reads: “Coronavirus has adversely impacted our working. Our businesses have come to a standstill and we are finding it difficult to arrange money for paying the installment of the advance tax.”

“I don’t have any local customers. People come from other states to me, but now, due to Covid- 19 people are cancelling their bookings, which has affected the work badly,” an industrialist said, adding that the customers were not coming, hence, how the work could be continued.

Ravinder Dhir from the Traders’ Forum said the forum was hopeful that the minister would understand the ground reality and would come to the rescue of genuine taxpayers. — TNS