CM seeks relief for businessmen from the Center: Provide three months exemption for TDS returns and loan payments to traders in Chhattisgarh.

CM seeks relief for businessmen from the Center: Provide three months exemption for TDS returns and loan payments to traders in Chhattisgarh.

Dispatch News.

Raipur. Chief Minister Bhupesh Baghel has sought relief from the Center for problems faced by the state businessmen due to Covid infection and lockdown. The Chief Minister has written a letter to Union Finance Minister Nirmala Sitharaman on the demand of the Chamber of Commerce and Industries. In this, they have sought to extend the deadline for TDS returns and principal and interest payments of bank loans to two to three months.

The Chief Minister, in his letter, said that April is the first month of the financial year 2021-22, and it sets the dates for filing multiple returns under the TDS and TCS Act. Right now, businesspersons can't reconcile their accounts and submit different types of returns within the stipulated time frame. Accountants, data entry operators, management staff working in their offices and establishments are either in-home isolation or in hospital due to Covid. Similarly, chartered accountants, company secretaries, tax consultants too cannot provide services. In such a situation, the chamber has urged to extend these dates by two months.

The Chief Minister has written, The state is currently in a state of near-closure of trades. Due to this, the cash flow of enterprises and industries has been badly affected. Businesses are facing a lot of difficulties in paying loans from various banks and financial institutions. The chamber has requested a moratorium of at least three months should be provided in the time limit for payment of instalments of principal and interest of the loan taken for conducting their business. The Chief Minister wrote that the state government agrees to these demands, but the matter is under your jurisdiction.

The Chief Minister further added, As a final step to stop the second wave of the epidemic, the government has turned almost all districts, including Raipur, into containment zones. The economic activities and trade-off in the state are closed. Due to this, small and medium businesses are experiencing a crisis. The Chhattisgarh Chamber of Commerce and Industries has sought some immediate reliefs to help them in this economic crisis, and I would like to draw your attention to the same.