Non-salaried may get to file returns by November 30
Posted Date : 26-Sep-2014 , 07:51:21 am | Posted By CASANSAAR
The Bombay high court on Thursday directed the Central Board of Direct Taxes(CBDT) to consider an extension of the due date for filing of income tax (I-T) returns by non-salaried taxpayers to November 30 from September 30. Non-salaried taxpayers, who are ...
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Bombay HC to CBDT - Consider the Representation of the of the chamber before 30th September.
Posted Date : 26-Sep-2014 , 07:39:41 am | Posted By CASANSAAR
The Chamber of Tax Consultants vs. UOI (Bombay High Court)
September 25th, 2014
Non-Extension Of due date for filing ROI will cause “substantial hardship“. CBDT must look into practical difficulties & take “just and proper” decision before 30.09.2014
...
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Income Tax |
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Updates on TAR Deferment / ITR Extension in Various High Courts
Posted Date : 25-Sep-2014 , 02:36:00 pm | Posted By CASANSAAR
LATEST & Most Awaited News from Delhi High Court in case of Mahesh Kr & Co. Vs UOI & ors WP 5990/14 reg issue of furnishing Tax Audit Report subsequent to filing of ITR & Dt.extension.--
Petitioner's Counsel Ms Rashmi Chopra gracefully seeks permission to withdraw. Court order...
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Income Tax |
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Get Income Tax benefit through contribution for clean Ganga mission
Posted Date : 25-Sep-2014 , 08:02:16 am | Posted By CASANSAAR
You can get tax relief by contributing towards the Clean Ganga project. The Government has announced setting up a Clean Ganga Fund (CGF) to help in the Integrated Ganga Conservation Mission called ‘Namami Gange.’
The Union Cabinet on Wednesday gave its approval for the fund. &ld...
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Madras High Court Directs CBDT to Extend Due Date of filing ITR to 30/11/2014
Posted Date : 24-Sep-2014 , 03:43:54 pm | Posted By CASANSAAR
In a Writ Filed to Madras High Court for the Extension of Income Tax Returns due date, Madras High Court directs CBDT to Extend Due Date of filing ITR to 30/11/2014.
Extension order be passed before 30/09/2014.
Waiting for the details....
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Consider extension of Due date of ITR to 30.11.2014 - AP High Court to CBDT
Posted Date : 24-Sep-2014 , 10:03:39 am | Posted By CASANSAAR
In the High Court at Hyderabad for the States of Telangana and Andhra Pradesh, AIFTP –South Zone represented by Vice President for the State of Telangana and Vice President –Andhra Pradesh have filed two Writ Petition Nos. 28159 & 28672 of 2014 questioning the&nbs...
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RBI panel gives roadmap for Bank Directors
Posted Date : 24-Sep-2014 , 08:07:03 am | Posted By CASANSAAR
A panel set up by the Reserve Bank of India has proposed that the Government and the RBI should consider laying a road map for prescribing certain specific qualification or certification while considering appointment of directors on the board of commercial banks.
It also proposed that a Bankin...
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File validation utility (FVU) version 2.140 from FY 2007-08 to FY 2009-10 and 4.4 from FY 2010-11 and onwards released
Posted Date : 23-Sep-2014 , 05:35:34 pm | Posted By CASANSAAR
e-TDS / e-TCS returns prepared for FY 2005-06 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.
The e-TDS/TCS FVU is a Java based utility. JRE (Java Run-time Environment) [versions: SUN JRE: 1.4.2_02 or 1.4.2_03 or 1.4.2_04or IBM JRE:&nb...
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Income Tax |
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e-TDS/TCS RPU (Version 4.1) for Statements from FY 2007-08 onwards released
Posted Date : 23-Sep-2014 , 05:26:49 pm | Posted By CASANSAAR
e-TDS / e-TCS returns prepared for FY 2005-06 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.The e-TDS/TCS FVU is a Java based utility. JRE (Java Run-time Environment) [versions: SUN JRE: 1.4.2_02 or 1.4.2_03 or 1.4.2_04or IBM JRE:&nb...
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Income Tax |
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I-T dept launches enhanced, 'Single Window' Website for taxpayers
Posted Date : 23-Sep-2014 , 11:58:13 am | Posted By CASANSAAR
A revamped online portal of the Income Tax department was launched on Monday which will enable taxpayers to file returns or apply for a PAN card through a 'single window' format.
Taxpayers so far had to go to different official websites of the I-T department for these matters.
"An updated version ...
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FM Arun Jaitley admitted to Hospital
Posted Date : 22-Sep-2014 , 10:34:15 pm | Posted By CASANSAAR
Around a fortnight after being discharged from hospital after a surgery, Finance Minister Arun Jaitley was admitted in a hospital again today after his medical condition deteriorated slightly.
Jaitley had undergone a planned diabetes management surgery at a private hospital in Delhi on 2 Se...
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Gujarat High Court directs CBDT to extend due date for filing of ITR to 30-11-2014 subject to Sec. 234A interest
Posted Date : 22-Sep-2014 , 08:08:22 pm | Posted By CASANSAAR
The CBDT vide Order [F.NO.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to November 30, 2014. However, the CBDT had not extended the due date for filing of the Income-tax Return ('ITR'). Consequently, many taxpayers were facing difficulty in fil...
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Date of filing ITR is extended to 30 Nov 2014 by Gujrat High Court
Posted Date : 22-Sep-2014 , 07:28:28 pm | Posted By CASANSAAR
EXTENSION GRANTED by Gujarat High Court...
Gujrat Court gave his verdict, Date of filing ITR is extended to 30 Nov 2014
Victory of Mission TAR 2014.
The Hon. Gujarat High court has pronounced that Direction is Given to the Central Board of Direct Taxes to Extend the due...
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Income Tax |
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Assessees will not be made to wait to meet tax officials
Posted Date : 22-Sep-2014 , 07:37:02 am | Posted By CASANSAAR
In a taxpayer-friendly move, the revenue department has directed its officials to fix meetings with assessees in such a manner so that they do not have to wait.
As per the current practice, tax officials call assessees for meetings at one time and they have to wait for long hours for their ...
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Finance Minister to launch enhanced Single Window Website for Taxpayers
Posted Date : 21-Sep-2014 , 07:43:56 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley will launch an updated version of the existing website of income tax department tomorrow to enable taxpayers to file easily their I-T returns or apply for a PAN card.
This updated version of the existing website of the Income Tax department-- www.incometaxindia.gov.in-...
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Banks open 4 Crore accounts under Jan Dhan Yojana: FinMin
Posted Date : 19-Sep-2014 , 07:05:18 am | Posted By CASANSAAR
The finance ministry on Thursday said 40 million bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana and that banks have mobilised Rs 3,700 crore so far.
"Banks have opened 40 million accounts so far. Banks have mobilised about Rs 3,700 as deposits ...
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Income Tax |
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New trends in tax evasion under CBDT lens
Posted Date : 19-Sep-2014 , 07:00:03 am | Posted By CASANSAAR
Tax authorities are planning to look more actively into suspicious transaction reports (STRs) that provide information on dubious funds as they step up efforts against the menace of black money.
It has asked field formations to provide feedback on what kind of relevant information these rep...
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Income Tax |
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Date of Payment of the Sept. Instalment of Advance Tax Extended from 15th Sept.2014 to 15th Dec. 2014 for the Taxpayers in State of J&K
Posted Date : 18-Sep-2014 , 10:36:00 pm | Posted By CASANSAAR
Considering the large-scale devastation in the State of Jammu and Kashmir due to the natural calamity, the Central Board of Direct Taxes (CBDT) has extended the date for payment of second instalment of advance tax for companies and first instalment of advance tax for others for FY 2014-15 (AY 2015-1...
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Delhi HC Adjourned the TAR Deferment Case tomorrow for Final Hearing
Posted Date : 18-Sep-2014 , 12:26:48 pm | Posted By CASANSAAR
Tax Audit Deferment case with Delhi High Court.
Delhi High Court asked the CBDT for revenue losses in case ITR date extended. CBDT lawyer not able to answer. He wants time to file the counter affidavit.
Court also asked why the Forms for Tax Audit was not available on 1st April.
...
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CBDT extends due date for filing of return by two months for income-tax assessees in State of J&K
Posted Date : 16-Sep-2014 , 04:05:43 pm | Posted By CASANSAAR
Order under section 119 of the Income-tax Act, 1961.
Considering the large scale devastation in the State of Jammu & Kashmir due to heavy rains and floods, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends th...
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High Court defers plea on Tax Audit, leaves Chartered Accountants edgy
Posted Date : 16-Sep-2014 , 08:49:19 am | Posted By CASANSAAR
Chartered accountants (CAs) went into a tizzy on Monday with the Delhi High Court adjourning the writ petition which challenged the Central Board of Direct Taxes (CBDT) directive extending deadline for furnishing tax audit report (TAR) till Thursday. Accounting professi...
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Whether only Extension u/s 139(1) will end all the TAR/ITRs related problems year after year
Posted Date : 12-Sep-2014 , 08:03:15 am | Posted By CASANSAAR
Respected Members,Last month, the CBDT gave us extension of TAR date to hide their unplanned & incompetent decision of mid-year TAR revamp as well as for their inability to provide its schema for almost a month, just to make us fool, when the deferment was well justified.And why..., because they...
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Accounting Professionals move Court for clarity on CBDT's Tax filing Deadline
Posted Date : 11-Sep-2014 , 05:24:51 pm | Posted By CASANSAAR
Some accounting professionals in the country have sought legal intervention to bring clarity into a recent directive from the Central Board of Direct Taxes (CBDT) extending deadline for furnishing the tax audit report without making any change in the deadline for filing the income-tax return.
...
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0 | Hits : 1718
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Download Guidance Note on tax Audit u/s 44AB of the Income-Tax Act, 1961 - Edition 2014
Posted Date : 11-Sep-2014 , 08:58:39 am | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) has Finally released much awaited Guidance Note on tax Audit u/s 44AB of the Income-Tax Act, 1961 – Edition 2014 on its website http://icai.org/ .
The Guidance Note Covers recent amendments in Format of Tax Audit Report...
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KPMG India's Deputy CEO Dinesh Kanabar quitting to start own venture
Posted Date : 10-Sep-2014 , 03:31:02 pm | Posted By CASANSAAR
KPMG India Pvt Ltd, the local unit of global auditing and advisory giant KPMG, said on Wednesday that its deputy CEO Dinesh Kanabar, who has been serving this role for over four years, will be leaving the firm at the end of next month.
Kanabar has more than two and half decades of experienc...
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Ensure that your TDS reaches the Income-Tax Department
Posted Date : 09-Sep-2014 , 07:52:45 am | Posted By CASANSAAR
Recently, a senior citizen received a notice from the Income Tax Department, asking her to pay Rs 30,000, the tax on her bank fixed deposits for assessment year 2013-14, along with interest, for late payment of tax. She was surprised, as her bank had deducted the tax at source (TDS).
What had happe...
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Dehi HC today admits a WRIT challenging the CBDT notification in the matter of new TAR
Posted Date : 08-Sep-2014 , 12:59:36 pm | Posted By CASANSAAR
Dehi HC today admits a WRIT challenging the CBDT notification in the matter of new TAR. Delhi High Court on Friday 5th Sep, listed for 8th September Monday Diary no. 162371/2014. W.P.(C) 5990/2014.
Mahesh Kumar & Co. vs. UOI and Others in Court no 2 of Hon'ble Mr. Justice B...
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Income Tax |
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CBDT rationalises norms of scrutiny of Tax Returns
Posted Date : 05-Sep-2014 , 08:22:46 am | Posted By CASANSAAR
The Income Tax Department has rationalised the norms for manual selection for scrutiny of tax returns to bring it in line with global best practices.
As per the norms released by the Central Board of Direct Taxes (CBDT), all cases where income exceeds Rs. 10 lakh over the previous...
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Insurance cos under service tax net for flouting rules
Posted Date : 05-Sep-2014 , 08:04:18 am | Posted By CASANSAAR
The insurance sector may soon come under the purview of service tax, after a FY12-13 CAG report pointed towards irregularities, wherein many insurance companies are said to have flouted tax rules.
The audit conducted had raised questions on a possible case of tax evasion, which is now bein...
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Whether all Returns filed before filing Tax Audit Report are Defective?
Posted Date : 04-Sep-2014 , 02:14:45 pm | Posted By CASANSAAR
As per the clause (bb) of Explanation to sub-section 9 of Section 139 of the Act, a return of income shall be regarded as ‘defective’ unless among inter-alia the return is accompanied by the report of the audit referred to in section 44AB, or, where the report has been furnished prior to...
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