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CBDT has notified Income-tax (3rd Amendment) Rules, 2013 vide NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013.Under these rules ,various rules regarding Income tax return for assessment year has been amended.
It is mandatory to file audit reports u/s 44AB, 92E, 115JB through online facility .once the information is filled with such forms. It would not be possible to change or modify in any way. Following are some details regarding same.
- U/s 44 AB where total income exceeds Rs.1cr——Form 3CA,3CB,3CD—–due date is 30.09.2013 or 30.11.2013 if sec92E applies.
- U/s 92E in case of international transactions or specified domestic transactions—Form 3CE —-due date is 30.11.2013.
- U/s 115JB where provisions of mat applies—–Form 29B —–due date is 30.09.2013 or 30.11.2013 if Sec 92 E applies.
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SHUBHI GOEL
Shubhigoel1989@gmail.com
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C B DT has been compeled to implement the rule for efilig of Tax AUDIT REPORT, because in the earlier years,it was only necessary to mention the membership number of charterd accountants, who has conducted the audit.It was observed by INCOME TAX DEPARTMENT, that a number of tax report were filed by the assessee[of course by the lawer] by quoting fake membership number of the chartered accountants. Ii is generaly happened,that the responsibilty is taken by the lawer to get tha account audited and flled the retun
CBDT has been compeled to implement the provision for efiling the audit report under section 44ab, because in previous years, when there had not been the provision of e filing of audit report, it was obsereved by I TAX DEPT,that a number of tax audit reports were filed by the assessee[ Of course,the return id filed by their lawer],by quoting fake membership detail of charterd accountants. It is generaly happened that the lawer of the assessee take the responsibilty for tax audit and filing the return.Moreover it has been seen that the income tax return is not being filled properly.
I fully agree with you views and it is apparent that CBDT is implementing the provisions on the guideline with some particular person who are absolutely interest in personal gain on such implementation. It is beyond our knowledge how and in what manner CBDT will be benifited?
CBDT with the mantra of simplification of Income-Tax Act, made it too much complicated by taking suggestions from vested interest & without making the analytical study of suggestion received. Now, if the above notification is strictly implemented, CBDT will not get compliance from the side of Non-CA
Tax Professionals covered U/s 288 of Income-Tax Act resulting into stagnation
of tax base in future.
Non-CA Tax Professionals will support for compliance under local VAT Act & will make the Deptt. to issue notice for seeking compliance under Income-Tax
Act in all the cases handled by them. In the result, Income-Tax Deptt. will not get voluntary compliance in future.