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CPC advisory on applicability of Tax Audit to business and profession

Dear Taxpayer, As per the section 44AB of Income Tax Act, the books of accounts for the relevant previous year are required to be audited by a Chartered Accountant and the audit report has to be electronically filed prior to or along with the return of income before the due date. In order to assist to […]...

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Posted Under: Income Tax | ,

Direct Tax Collections for F.Y. 2018-19 up to September, 2018

Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last year ...

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Posted Under: Income Tax |

CBI Arrests an Income Tax Inspector in A Bribery case of Rs. 10 Lakh

Central Bureau of Investigation has arrested an Income Tax Inspector, working in the office of Joint Commissioner, Income Tax, Range-III, Lucknow and a private person in a bribery case of Rs. 10 lakh....

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Posted Under: Income Tax |

Key Features – Return Preparation Utility (RPU) version 2.4

Key Features – Return Preparation Utility (RPU) version 2.4 ♦ Integration of new Encryption certificate in File Validation Utilities (FVUs) > Renewed Encryption certificate with extended validity has been integrated in FVUs ♦ Incorporation of latest File Validation Utility (FVU) version 5.9 (applicable for TDS/TCS statements pert...

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Posted Under: Income Tax |

Extend Tax Audit due date to 31 October 2018: BJP Economic Cell (Rajasthan)

BJP economic Cell (Rajasthan), State Co-Convener CA R P Vijay & CA Sachin Kumar Jain have requested Honble FM to extend due date for submission of Tax Audit Reports and Income Tax Returns from 30 September, 2018 to 31 October, 2018 in the case of corporate assesses and where tax audit is applicable so that […]...

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Posted Under: Income Tax | ,

Extend Tax Audit Report Filing Due Date: SGTTA

South Gujarat textile traders association is the leading trade organization of south Gujarat. It is representing more than 40000 traders of surat and entire south Gujarat. The association has played vital role in disseminating awareness about GST and has held hundreds of meetings to clarify the doubts of the trade and industry....

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Posted Under: Income Tax |

Extend due date to submit Tax Audit Reports & ITR: ICAI requests 3rd time

ICAI/DTC/2018-19/Rep–36 (17/09/2018)

ICAI has for the third time in less than a month made a request for Extension for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2018 to 31st October, 2018. Earlier ICAI has made representation dated 31st August, 2018 and 10th September, 2018. Read ICAI 1st Representation on […]...

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Posted Under: Income Tax | ,

Extend Tax Audit Due date for Assessees of Kodagu & Malanadu Region: KSCA

The Karnataka State Chartered Accountants Association (R) (in short ‘KSCAA’) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in the year 1957. KSCAA is primarily formed for the welfare of Chartered Accountants and represents before various regulatory authorities to resolve the pro...

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Posted Under: Income Tax | ,

Bank of Baroda, Vijaya Bank & Dena Bank to be merged

Govt. decided that Bank of Baroda, Vijaya Bank and Dena Bank may consider amalgamation of the three banks. The envisaged amalgamation will be the First-ever three-way consolidation of banks in India, with a combined business of Rs. 14.82 lakh crore, making it India’s Third Largest Bank....

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Posted Under: Income Tax |

Extend Tax Audit / ITR Due date to 30th November 2018- AGFTC & ITBA

Extend Tax Audit / ITR Due date to 30th November 2018-

AGFTC and ITBA has Requested Honourable Finance MInister to extend due date of 30th Sept. 2018 for submission of Tax Audit Reports and related I. Tax Returns for Ass. Yr. 2018-19 to 30th November 2018 vide its representation dated 17/09/2018. Relevant Text of the representation is as follows:- INCOME TAX BAR ASSOCIATION, AHMEDABAD Aayakar...

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Posted Under: Income Tax |