Income Tax : Learn about tax audit under Section 44AB, including objectives, requirements, forms, and penalties for non-compliance....
Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
Income Tax : Learn about the amendment to Clause 22 of Form 3CD under Section 43B(h) and its impact on reporting requirements for payments to M...
Income Tax : CBDT's notification no. 27/2024 dated 05.03.2024 introduces several key amendments to Form 3CD, effective from AY 2024-25, impacti...
Income Tax : CBDT updates Form 3CD for AY 2023-2024, including major amendments for tax audit reporting. Essential insights for professionals a...
Income Tax : Explore the latest 2023 revision of the ICAI's Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961. Learn ab...
Income Tax : Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of Income-tax Act, 1961’ is issued by ICAI Direct Tax...
Income Tax : Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email i...
Income Tax : Representation requesting to scrap Clause No. 44 of Tax Audit Report (Form 3CD) under the Income Tax Act, 1961...
Income Tax : More than 6.63 crore Income Tax Returns (ITRs) and 99.27 lakh statutory forms filed on the new e-filing portal of the Income Tax D...
Income Tax : Discover how Chennai ITAT's verdict affects assessments. Learn how a typographical error in Form 3CD impacts additions to an asses...
Income Tax : In Uttam Narayanmal Mehta S K Metal Vs ITO case, ITAT Mumbai directs AO to re-adjudicate mistake in ITR filing regarding double ta...
Income Tax : In the case of SVT Wholesale Pvt. Ltd. Vs JCIT, the ITAT Bangalore evaluates the penalty imposed under Section 271D for violating ...
Income Tax : ITAT Delhi held that initiation of action u/s. 154 of the Income Tax Act on the basis of shortfall in TDS on year end provisions r...
Income Tax : M/s. PMC Rubber Chemicals India Pvt. Ltd. Vs ACIT (ITAT Kolkata) We note that the assessee has filed form no. 3CD and 3CB and the ...
Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...
Income Tax : Stay updated with CBDT's Form 3CD Tax Audit Report Format, Form 3CEB & Form No. 65 revision. Learn about changes in tax audit rep...
Income Tax : The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44 till 31st Mar 2022 due to COVID-19. F.No. 3701...
Income Tax : Amendment of the Income-tax Rules, 1962 to prescribe manner relating to option under section 115BAC and 115BAD, and that of determ...
Income Tax : Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and...
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
CBDT is directed to modify the notification dated 20th August, 2014 issued in exercise of powers under section 119 of the Act by extending the due date for furnishing the return of income to 30th November, 2014.
CA Sandeep Kanoi Status Updated Till 26.09.2014 (7.00 AM) Chartered Accountants and Trade Associations around the country has filed Public Interest Litigation (PIL) before various high courts for extension of Due date of ITR in line with Tax Audit Report Due date for A.Y. 2014-15. We are giving below the daily status PILs filed before various […]
Following the Footsteps of other High Courts Bombay High Court today held in the case of ‘The Chamber of Tax Consultants & Others Vs. Union of India (Bombay High Court), WRIT PETITION (L) NO.2492 OF 2014’ that CBDT should consider the representation of the of the Chamber of Tax Consultants on or before 30th September 204. Petitioners are entitled for better relief in view […]
CA Sandeep Kanoi After Gujarat and Andhra High Court, Madras High Court too directs CBDT to extend due date of Filing Income Tax Return for A.Y. 2014-15 in Tax Audit cases to 30.11.2014. in respect of writ application filed by All India Federation of Tax Practitioners, G Baskar, an advocate and CNGSN & Associates, a […]
Seven reasons why extension of date of filing Tax Audit Report is not sufficient and the new format needs revision: 1. New clause 4: Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty, etc. if yes, please furnish the registration number or any other identification number allotted for the same.
In the High Court at Hyderabad for the States of Telangana and Andhra Pradesh, AIFTP –South Zone represented by Vice President for the State of Telangana and Vice President –Andhra Pradesh have filed two Writ Petition Nos. 28159 & 28672 of 2014 questioning the notification issued by the Central Board for Direct Taxes on 20-08-2014 […]
CA Sandeep Kanoi CBDT has vide Notification No. 33/2014 dated 25/07/2014 Introduced mid year changes in Tax Audit Report format in form 3CD with lots of changes and additional reporting requirement. CBDT made the revised format applicable wef 25.07.2014 i.e. the date from which the new form been notified. Utility for revised Tax Audit report […]
To, Hon’ble Chief Justice of India Supreme Court of India Subject: Bureaucracy in India – A Real Hurdle for Development of Country Respected Sir, “Minimum government, maximum governance” – is it fact or fantasy? Government has merged key ministries in an apparent attempt to bring in more synergy in governance and make decision making quicker […]
The central Board of Direct taxes has extended the date of obtaining and furnishing the Tax audit report to 30/11/2014 though the Date of filing of Income tax returns is still 30/09/2014 and it is very unfortunate situation troubling the whole trade and Industry which is a very big part of the total tax paying fraternity.
