Stock Market Picks Up, Sensex Up 254 Points, Nifty To 13700

Stock market picks up, Sensex up 254 points, Nifty close to 13700.

Today the stock market picks up on the fourth trading day of the week i.e. Thursday. Bombay Stock Exchange’s flagship index Sensex opened 254.11 points at 46698.29 level.

At the same time, the National Stock Exchange’s Nifty opened 71.60 points at 13672.70. On December 25, the domestic stock market will close on Christmas.

The 30-share sensitive index of the BSE closed at a level of 46,444.18, a rise of 437.49 points, or 0.95 percent. Similarly, NSE Nifty closed at 13,601.10 with a gain of 134.80 points or one percent.

The stock market opened on the previous trading day on a downward trend. The Sensex was down 55.68 points (0.12 percent) to open at 45951.01. The Nifty was down 0.15 percent (19.80 points) at 13446.50.

The major stocks of Hindalco, IndusInd Bank, Ongly, Coal India and ICICI Bank opened on the green mark during initial trading today.

The shares of Hero MotoCorp, Grasim, Ultratech Cement, Asian Paints and Adani Ports opened at the red mark.

Demand for extension of deadline for submission of ITR, tax audit report

In view of the current epidemic, direct tax professionals have demanded extension of deadline for tax audit report, deadline for income tax return in audit cases and annual general meeting.

The ‘Direct Taxes Professionals Association’ (DTPA) has extended the date of submission of tax audit report under Section 44AB of the Income Tax Act.

Finance Minister Nirmala Sitharaman on 28 February said the date of filing of income tax returns for the assessment year 2020-21 in audit cases to 31 March 2020.

In a written request submitted to the government, DTPA President NK Goyal said that due to Corona virus epidemic, functioning has not become normal till now.

His staff, including many professionals, were also infected with the corona virus. In such a situation, the deadline for filling the tax audit report and ITR needs to be extended.

Organization Chairman Narayan Jain said that out of the total 5.25 crore taxpayers, 3.75 crore taxpayers have already filed income tax returns. This includes individual taxpayers.