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Friday 26 September 2014

Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified Cases



F.No.153/53/2014-TPL (Pt.I)
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
North Block, TPL Division,
New Delhi

Dated: September 26, 2014

PRESS RELEASE

Subject: Extension of due date for filing of Return of Income from 30th Sept, 2014 to 30 th Nov, 2014 in specified cases, regarding.

As per the provisions of the Income-tax Act, 1961 (‘the Act’), for an assessee, who is required to obtain Tax Audit Report (TAR) under section 44AB of the Act, the due date for furnishing his return of income is 30 th September of the Assessment Year.

2. The Central Board of Direct Taxes (‘the Board’) vide order dated 20th August, 2014 extended the due date for obtaining and furnishing of Tax Audit Report under section 44AB of the Act for Assessment Year 2014-15 from 30 th September, 2014 to 30 th November, 2014. Subsequently, a number of representations were received in the Board requesting for extension of the due date for furnishing of return of income also. Writ petitions were also filed in various High Courts for directing the Board to extend the due date for furnishing of return of income from 30 th September, 2014 to 30 th November, 2014 in conformity with the extension of the due date for filing of Tax Audit Report.

 3. The Gujarat High Court vide judgement dated 22.09.2014 (2014-TIOL-1681-HC-AHM-IT) directed the Board to extend the due date for furnishing the return of income to 30 th November, 2014, except for the purposes of charging of interest under section 234A of the Act for late filing of return of income. Other High Courts also directed the Board to look into the practical difficulties of the petitioners and take a just and proper decision in this matter.

4. In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board, in exercise of its power conferred by section 119 of the Act, has extended the ‘due-date’ for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15 for all purposes of the Act in the case of an assessee, who is required to file his return of income by 30th September, 2014, and is also required to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act.

5. There shall be no extension of the “due date” for the purposes of charging of interest under section 234A of the Act for late filing of return of income and the assessees shall remain liable for payment of interest as per the provisions of section 234A of the Act.

6. For removal of doubt, it is clarified that for an assessee (other than working partner of a firm which is required to obtain and furnish Tax Audit Report), who is required to file its return of income by 30 th September, 2014 but not required to obtain and furnish Tax Audit Report under section 44AB, the due date for furnishing of return of income for assessment year 2014-15 remains as 30 th September, 2014.

(Rekha Shukla)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT

Sunday 21 September 2014

History - GST

வரலாறு

இந்தியாவில் பொருட்களுக்கான மறைமுகவரியாக நடுவண் அரசு கலால் வரி மற்றும் நடுவண் விற்பனை வரியையும் சேவைகளுக்கு சேவை வரியையும் வசூலித்து வருகிறது. மாநி அரசுகள் விற்பனை வரியையும் சேவைகளுக்கு கேளிக்கை வரி, உல்லாச வரி எனவும் வசூலித்து வருகின்றன. இவை விதிக்கப்படும் பொருட்களும் சேவைகளும் அவற்றிற்கான வரிவிகிதமும் ஒவ்வொரு மாநிலத்திற்கும் மாறுபடுகிறது. அண்மையில் பெரும்பாலான மாநிலங்கள் மதிப்புக் கூட்டு வரிக்கு மாறியபோதும் வணிகர்கள் இத்தகைய குறைபாடுகளை வெளிப்படுத்தி வந்தனர். மொருளியல் வல்லுனர்களின் பரிந்துரையின் அடிப்படையில் 2007-2008ஆம் ஆண்டு நிதிநிலை அறிக்கையின்போது அப்போதைய நடுவண் நிதி அமைச்சர் ப.சிதம்பரம் இத்தகைய வரி ஏப்ரல் 2010 முதல் அறிமுகப்படுத்தப்படும் என அறிவித்தார்.

இதற்கான செயலாக்கத் திட்டத்தினை வரையறுக்க மே 10, 2007 அன்று கூட்டப்பட்ட மாநில நிதி அமைச்சர்களின் குழு, நடுவண் நிதி அமைச்சரின் ஆலோசகர், மநில நிதி அமைச்சர்கள் குழுவின் செயலாளர் மற்றும் நடுவண் நிதி அமைச்சகத்தின் வருவாய்த்துறை கூட்டுச்செயலர் மற்றும் மாநில நிதி அமைச்சகங்களின் செயலர்கள் அடங்கிய கூட்டு செயற்குழு வை ஏற்படுத்த பரிந்துரைத்தது. இந்தக் கூட்டு செயற்குழு தனது ஆய்வுகளுக்குப் பின்னரும் பிற வல்லுனர்கள் மற்றும் வணிக சங்கங்களுடான கலந்தாய்வுகளுக்குப் பின்னரும் தனது அறிக்கையை நவம்பர் 19, 2007 அன்று அமைச்சர் குழாமிற்கு அளித்தது.

இந்த அறிக்கையை நிதி அமைச்சர்கள் குழாம் நவம்பர் 28, 2007இல் கூடி விவாதித்தது. இந்த கலந்தாய்வு மற்றும் சில மாநிலங்களின் எழுத்து ஊடான கருத்துக்களின் அடிப்படையில் கூட்டு நிதி அமைச்சர்களின் குழு தனது அறிக்கையில் ஏப்ரல் 30, 2008இல் நடுவண் அரசுக்கு சில மாற்றங்களை பரிந்துரைத்து அனுப்பியது. நடுவண் அரசின் கருத்துக்கள் திசம்பர் 12, 2008இல் பெறப்பட்டு கூட்டு நிதி அமைச்சர்கள் குழாம் இதனை திசம்பர் 16, 2008இல் பரிசீலித்தது. மாநிலங்களின் முதன்மைச் செயலர்கள் இக்கருத்துகளை மேலும் ஆய்வு செய்வர் என தீர்மானிக்கப்பட்டது. இந்த கருத்துரைகளின்படி சனவரி 21,2009இல் அனைவராலும் உடன்படக்கூடிய வரைவொன்றை கொள்கையளவில் ஏற்றுக்கொள்ளப்பட்டது. தொடர்புடைய மாநில அரசு அதிகாரிகளும் நடுவண் அரசு அதிகாரிகளும் கலந்தாய்ந்து இதனை நிர்வகிக்கும் அமைப்பு குறித்த பரிந்துரைகளை வழங்கினர்.

அக்டோபர் 19, 2009 அன்று நிதி அமைச்சர் பிரணப் முகர்ஜி கூட்டு மாநில நிதியமைச்சர்கள் குழாத்துடன் உரையாடினார். இதனைத் தொடர்ந்து மாநிலங்களுக்கான இழப்பீடு, வரி நிர்வாக கட்டமைப்பு போன்றவை குறித்த விவரமாக உரையாடப்பட்ட பரிந்துரைகள் அடங்கிய முதல் விவாதத் தாளை, இந்த வரி குறித்து எழும் அடிக்கடிக் கேட்கப்படும் கேள்விகளுக்கான பதிலை அனுபந்தத்துடன், பொதுமக்கள் மற்றும் தொழில் மற்றும் வணிக அமைப்புகளின் கருத்துக்களுக்காக வெளியிட்டார்.

Thursday 18 September 2014

ICAI Representation due date extension



Representation made by ICAI – seeking extension of due date of filing return of income along with the date of furnishing audit report. – (18-09-2014)

ICAI has, through, a representation dated 15.09.2014 brought to the attention of Chairman, CBDT the concerns of the taxpayers on account of non extension of due date of filing return of income under section 139(1) along with the date of furnishing tax audit report. Further, ICAI has suggested that:

a) The due date of filing return of income under section 139(1) for assessees mentioned under clause (a) of Explanation 2 to section 139(1) be extended in line with the extension granted for submission of tax audit report under section 44AB of the Act.
b) Since the provisions applicable to every Assessment year are clarified by the relevant Finance Act well in advance, it is further suggested that all ITR forms and forms of Audit reports be notified well in advance by 1st April every year, to avoid such situations.


Direct Taxes Committee, ICAI

Tuesday 16 September 2014

ITR Due date extended to 30.11.2014 for assessees In state of Jammu & Kashmir



F. No. 225/268/2014/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North-Block, ITA.II Division
New Delhi, the 16th September, 2014

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 the `due-date’ for filing Returns of Income from 30th September, 2014 to 30th  November, 2014,  in cases of Income-tax assessees in the State of Jammu & Kashmir, who, as per clause (a) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961 were liable to file their Income tax returns by 30th September, 2014.

(Richa Rastogi)
Under-Secretary to the Government of India

Thursday 4 September 2014

scrutiny during the Financial Year 2014-15



Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15.
Instruction No. 6/2014 Dated- 2nd of September, 2014

Subject: Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15-regd:-

In supersession of earlier Instructions on the above subject, the Board hereby lays down the following procedure and criteria for manual selection of returns/cases for scrutiny during the Financial-year 2014-2015:-

a) Cases involving addition in an earlier assessment year in excess of Rs. 10 lakhs on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before an appellate authority.

b) Cases involving addition in an earlier assessment year on the issue of transfer pricing in excess of Rs. 10 crore or more on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before an appellate authority.

c) All assessments pertaining to Survey under section 133A of the Act excluding the cases where there are no impounded books of accounts/documents and returned income excluding any disclosure made during the Survey is not less than returned income of preceding assessment year. However, where assessee retracts the disclosure made during the Survey will not be covered by this exclusion.

d) Assessments in search and seizure cases to be made under section 158B, 158BC, 158BD, 153A & 153C read with section 143(3) of the Act and also for the returns filed for the assessment year relevant to the previous year in which authorization for search arid seizure was executed u/s 132 or 132A of the Act.

e) Returns filed in response to notice under section 148 of the Act.

f) Cases where registration u/s 12AA of the IT Act has not been granted or has been cancelled by the CIT/DIT concerned, yet the assessee has been found to be claiming tax-exemption under section 11 of the Act. However, where such order’s of the CIT/DIT have been reversed/set-aside in appellate proceedings, those cases will not be selected under this clause.

g) Cases where order denying the approval u/s 10(23C) of the Act or withdrawing the approval already granted has been passed by the Competent Authority, yet the assessee has been found claiming tax-exemption under the aforesaid provision of the Act.

h) Cases in respect of which specific and verifiable information pointing out tax evasion is given by Government  Departments/Authorities. The Assessing Officer shall record reasons and take prior approval’ from jurisdictional Pr. CCIT/CCIT /Pr. DGIT/DGIT concerned before selecting such a case for scrutiny.

2. Computer Aided Scrutiny Selection (CASS): Cases are also being selected under CASS on the basis of broad based selection filters. List of such cases shall be separately intimated in due course by the DGIT(Systerns) to the jurisdictional authorities concerned.

3. It is reiterated that the targets for completion of scrutiny assessments and strategy of framing quality assessments as contained in Central Action Plan document for Financial-Year 2014-2015 has to be complied with and it must be ensured that all scrutiny assessment orders including the cases selected under the manual criterion are completed through the AST system software only. Further, in order to ensure the quality of assessments being framed, Pr. CCsIT/CCsIT/Pr. DsGIT/DsGIT should evolve a suitable monitoring mechanism and by 30th April, 2015, such authorities shall send a report to the respective Zonal Member with a copy to Member (IT) containing details of at least 50 quality assessment orders from their respective charges. In this regard, IT Authorities concerned must ensure that cases selected for publication in ‘Let us Share’ are picked up only from the quality assessments as reported.

4. I These instructions may be brought to the notice of all concerned. If considered necessary a supplementary guideline would be issued subsequently.


(Rohit Garg)
Deputy-Secretary to the Government of India
F.No. 225/229/2014/ITA.II

Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, North-Block, IT (A-II) Division, New Delhi