ICAI asks CBDT to waive penalty on late filing of tax audit reports

The Institute of Chartered Accountants of India (ICAI) has requested the Central Board of Direct Taxes (CBDT) to waive penalty on late filing of tax audit reports and other reports or certificates for AY 2021-22 till March 31, 2022. The ICAI cited the surge in COVID-19 cases and consistent technical glitches in new I-T portal as reasons for seeking waiver.