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
It appears that the CBDT does not bother for the SC decision where it held that if self assessment taxes are paid before due date then no interest can be charged on delay of filing returns. It is a punishment For honest tax payers.
How does a salaried person with TDS already deducted earlier pay some more tax (dues post calculation taking into account certain income from bank deposits) for the AY 2014-15. Can it be done online? Does it need to be done before filing the return or can it be done after filing return with tax owing and subsequently after the return is cleared by IT dept. Could some one advice. The total taxable income is abot 8 lakh.
Regards
Cp Nambiar
What about interest u/s 234A??
The Due date for extension of filing of ITR is all right.
If the assessee paid the self assessment tax before the due date (eg.30/09/2014) , but the return actually filed after due date (eg. 01/10/2014)
My query is still assessee is liable to pay the interest u/s 234A of IT Act,1961.
Experts, kindly remove my difficulty.
Thanks & Regards
CMA Sleeva Reddy
If the assessee not paid the TDS on or before 30th September also eligible for deduction and the same is not subject disallowance u/s.40(a)(ia) if he pays on or before 30th November 2014 for the asst.year 2014-15. The reasons is that, Sec.40(a)(ia) refers Sec.139(1) due date and as per the Order of the CBDT, the ‘due date’ was extended to 30th November, 2014 for all the purpose of the Act. When the ‘due date’ as given in clause (a) of Explanation 2 to Sec.139(1), is extended, then the same would apply to Sec.40(a)(ia). Hence, in my opinion, if the assessee pays the TDS on or before 30th November, the disallowance u/s.40(a)(ia) would not come.
In the case of assessee suffered loss for this asst.year 2014-15, if such assessee covered under Tax audit, then the loss also carried forward if the return is filed on or before 30th November, 2014.
..
CA.C.Maheshwar Reddy
whether extension of duedate is applicable to lossmaking compang also????
Whether extension of due date is applicable to loss making companies also????
Hi,
Can somebody help clarify if the extension also apply to deposit of TDS amount. Or is it only date of filing that has been extended..Please provide supporting links, if possible…A little urgent…Thanks
Thanks a lot
why not updated in incometaxindiaefilling web side this circulars
Thank u Tax Guru
Thanks of Tax guru for given the news.
After mostly high court’s decission & appeal in The Supreme, lastly favorable news received but CBDT had not given any relaxation in interest u/s 234A.
Great,
CBDT to change its view and approach to taxpayers and professionals.CBDT has to work on Creating Friendly and Positive environment to achieve taxpayers voluntary response to law / rules.
The step of petitioner , government & judiciary is really very very thankful and useful for taxpayers.
Thanks Tax Guru to give the most essential news for all those who are related with I.Tax Practice.
Hi All,
thanks
Its great news for us,
Really your whole team is appreciable.
t’s great victory & Lot of Thanks to taxguru.in. but intt paid or not pls expert clear it.
It’s great victory CBDT must take in to consideration for any change or any amendments in the reporting so professional can able to comply the requirements. Its graet victory again.
Regards
Ashwin
It is very surprised that CBDT is not aware of the practical difficulties of the CA and Practitioners as well as tax payer.
Whether it is a start of Acche Din ?
Re : For Case History about Income Tax and Sale Tax
Respected Sir,
First of all ,credit goes to Tax guru for his marvellous achivement of Extended filling of income tax return from 30/09/2014 to 30/11/2014 for the a.y. 2014-15.
Secondly ,pls clarify and send me a brief of various case history about Works Contractor at sale tax in west bengal ,not only that the audit procedure of sale tax .
A very great relief. Thanks to all the petitioners
Dear Sanju,
If all the taxes are paid before the original due date (30.09.2014), interest under section 234A is not applicable. Interest under section 234A will be levied only if there is a balance tax payable after the due date.
Case law reference : CIT v Pranoy Roy (2009) 179 Taxman 53 (SC)
Thanks to all for support, i request to expert please clear pera no.6 of notification
Thanks to god, the board has now realized,
The CBDT has not extended on its own.It is under dictate.It had thrown away the reprentations in waste paper basket and therefore should not have referred to them in the cicular.The words of the circular smack of arrogance on the part of CBDT.
Unbelievable b 4 4 days such a notification,
Always it was last day announcement.
On plain reading of the press release it seems that there is no extension of due date for companies not covered under tax audit.
It means for loss making companies due date is 30th sept 2014.
Is any body have different view/opinion on this?
It’s great victory. Thanks to Taxguru.Thanks to all of u for their support.
It’s great victory for all Traders. Thanks to all of u for their support. – See A Lot of Thanks to taxguru.in.
Hi.. All Thank you very much for supporting in. extension of due dates. Please clarify all,about TDS payment also on or before due,date…
Better late than never
thank
thanks to all
Dear Ramesh,
CBDT is playing with not only the taxpayers of this country but with Judiciary also, kindly go through the above press release point no. 5, they not extened the due date for purposes of charging of interest u/s 234A, means every taxpayer has to pay interest u/s 234A who has to pay self assessment even if they pay self assessment tax on or before 30th september.
AS per Gujarat High court order, the tax payer who pay self assessment tax on or before 30th september do not have to pay interest u/s 234A.
I am not an adovate so i do not know, CDBT had made contempt of court order on above point. or CDBT is consider itself superior over and above all
Thanks
It’s great victory for the whole fraternity. Thanks to all of u for their support.
thanks taxguru and to all those who have filed petitions and also to CBDT for not communicating extension on 30th sept 14
Relief for professionals
srinath
Income Tax Practitioner
It’s a good decision and show hon-our to Judiciary of India, and show that Govt. is to sincere about his people
Thanks a lot
Thanks to Tax Guru with all my colleague it was really great victory of Judiciary
Thanking You
Ramesh Kumar Thakur
Advocate Income Tax,
Relief for CAs and Accountants…….
Still not clear on interest u/s 234A as mentioned in Para 5. Whether it is applied on filing return after 30/09/2014 or 30/11/2014.
Experts, kindly remove my difficulty.
Regards,
Arul
Thank u boss.
KP