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Partnership firms, individuals and Hindu Undivided Family (HUFs) subjected to mandatory tax audits will now be required to file their income-tax (IT) returns only electronically and that too under digital signature. This regime would be applicable for assessment years 2011-12 (financial year 2010-11) and subsequent years, the Central Board of Direct Taxes (CBDT) has said vide its Notification No. 37/2011 [F. No. 149/68/2011-So (Tpl)], Dated 1-7-2011 .

Firm or individual/HUF covered under section 44AB are mandatorily required to file ITR-5 or ITR-4 electronically using digital signature

Income-Tax (Sixth Amendment) Rules, 2011 – Amendment in Rule 12

Notification No. 37/2011 [F. No. 149/68/2011-So (Tpl)], Dated 1-7-2011

In exercise of the powers conferred by section 295, read with section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—

1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2011.

(2) They shall come into force from the date of its publication in the Official Gazette.

2. In the Income-tax Rules, 1962 in rule 12, in sub-rule (3), in the proviso, for clauses (a) and (aa) the following clause shall be substituted, namely :—

“(a)  a firm required to furnish the return in Form ITR-5 or an individual or Hindu Undivided Family (HUF) required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable, shall furnish the return for assessment year 2011-12 and subsequent assessment years in the manner specified in clause (ii);”

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0 Comments

  1. Anurag Jethliya@gmail.com says:

    DSC NEW RATES (SIFY)
    Dear Sir,
    New Rate are Including Service Tax.
    The new prices are as under:
    Retail pricing
    1 Yr 2 Yr
    For CA 460 660

    Class 2 (Bulk Price)
    RATE QUOTE (1 Year DSC)
    Qty 25 50 100 250 500 & Above
    Price 430 405 380 355 340

    RATE QUOTE (2 Year DSC)
    Qty 25 50 100 250 500 & Above
    Price 600 580 555 540 520

    Class 3
    Validity With Token Without Token
    1 Year 3750 3400
    2 Year 5600 5250

    DGFT
    Validity With Token Without Token
    1 Year 4850 4500
    2 Year 5800 5450

    Anurag Jethliya
    Bhilwara, (Rajasthan)
    M. No. 9414974738
    ca.anuragjethliya@gmail.com

  2. Anurag Jethliya says:

    DSC NEW RATES (SIFY)
    Dear Sir,

    We wish to inform you that DSC industry is passing through very crucial stage. All the Certifying Authorities i.e. [(n)code, TCS, Sify, emudra] have unanimously pooled up and hiked the prices of DSC extravagantly w.e.f. 1st May 2012. This hike is 2.5 to 3times. Not only will this service tax of 12.36% also be applicable from the date the Finance Bill get the assented by

    Accordingly the prices have been revised. The new prices are as under:
    Class 2
    RATE QUOTE (1 Year DSC)
    Qty 25 50 100 200 350 500
    Price 500 480 465 450 430 420

    RATE QUOTE (2 Year DSC)
    Qty 25 50 100 200 350 500
    Price 650 630 615 595 580 570
    Plus taxes as applicable on all above prices

    Class 3
    Validity With Token Without Token
    1 Year 4000 3700
    2 Year 5000 4700

    Class 3 (Only Signing)
    Validity With Token Without Token
    1 Year 3000 2700
    2 Year 4000 3700

    Anurag Jethliya
    Bhilwara, (Rajasthan)
    M. No. 9414974738

  3. Anurag Jethliya says:

    If Yu Required Digital Signature then plz Contact me.
    It has very low cost only 250/-

    Contact No. +91-9414974738
    Anurag Jethliya
    Bhilwara (Rajasthan)

  4. G.J.MURTY says:

    I AM AT A LOSS TO ONE THING IN RESPECT OF APPLICABILITY OF SECTION 44AD AND THE QUESTION OF AUDIT. SUPPOSE A PERSON WHO HAS TO FILE RETURN FOR A/Y 2011-12. HIS TURNOVER FOR THE PORVIOUS YEAR IS 40,35,656–00 AS PER HIS BOOKS OF ACCOUNTS HIS NET PROFIT COMES TO RS 70,004/- AND THUS HE DOES NOT HAVE TAXABLE TURNOVER. NO OTHER INCOME. HE MAINTAIN BOOKS OF ACCOUNTS. HE WANTS TO FILE RETURN FOR HIS NET PROFIT AS ABOVE. IN VIEW OF AMENDMENT OF LAW, HAS HE TO GET HIS ACCOUNTS AUDITED FOR THIS NONTAXABLE INCOME(MAINTAINING HIS BOOKS OF ACOUNTS)?

  5. Fahad says:

    Digital Signatory Certificate Class II just Rs. 375 only at Himatnagar, Idar, Modasa, Prantij, Talod, Bhiloda, Vijaynagar and all over Sabarkantha, Gujarat

  6. anantavardhana says:

    whether the chartered accountant signing the audit report u\s 44AB can also affix the ITR 4 & 5 with his digital signature?

  7. v.k.subramani says:

    THIS ANNOUNCEMENT WHILE TAXPAYERS ARE BUSY FINALISING THEIR RETURNS SEEMS TO BE ILL TIMED.ALSO WHY DISCOMFORT ALL NON-CORPORATE TAXPAYERS LIABLE FOR TAX AUDIT BY COMPELLING THEM TO FILE INCOME TAX RETURN WITH DIGITAL SIGNATURE?

  8. Vikas says:

    Contact for digital signature in chandigarh, Mohali or Punjab

    Required
    1. Copy of PAN Card
    2. Address & Identity Proof
    3. One Passport size photograph

    Ph :- 0172-2634700

  9. sankar says:

    as per the notification is it firms and individuals/HUF, both subject to tax audit or all firms [whether subject to tax audit or not] and individuals/HUF subject to tax audit

  10. CA Surendra Kumar Rakhecha says:

    IT WAS EXPECTED.
    .
    Those who have filed the Returns before 01 07 2011; will also be required to re-file their return digitally.
    .
    Although no such notification is there right now; but as happened in the past; the same may be announced soon.

  11. MUDIT AGRAWAL (Advocate) says:

    WHether this notification dt. 01.07.2011 will be applicable for returns filed without digital signature before 1st July 2011.

    Phone : 9897765958

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