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...
टैक्स ऑडिट की अंतिम तिथी 30/11/2014 कर दी गई है लेकिन आयकर रिटर्न की अंतिम तिथी अभी भी 30/09/2014 ही है एवं यह एक दुर्भाग्यपूर्ण स्तिथी है . दिनांक 25/07/2014 से 20/08/2014 के मध्य लगातार 25 दिन आयकर साईट पर सुविधा उपलब्ध नहीं होने के कारण एक भी रिटर्न पेश नहीं किया जा सका , […]
C.P. Chugh Dear All True but of no use. What we got is a big BABA JI KA TULLU (in the words of Kapil Sharma, standup comedian) CBDT circulars/notifications are often over riding the basic of law. Law makers have thoughtfully provided sufficient time to furnish return, obtain and furnish TAR and keeping in mind […]
CA Rekha Dhamankar We all know that the CBDT unexpectedly changed the formats of the tax audit report U/S 44AB of Income-tax Act by its Notification No.33 dated 25/07/2014 and to everyone’s surprise these new formats were made applicable from Financial Year 2013-14, for which the date of filing tax audit reports is 30/09/2014. Few questions […]
Whether CBDT have any power to extend due date Under section 44AB of the Income Tax Act,1961 without extending due date for filing return of income u/s 139(1)?
We are attaching detailed comparative analysis of Revised Tax Audit Report in the excel format with updated table formats as per the schema of the Forms 3CA/3CB-3CD on the Income Tax website. The file also contains the Screenshots of the updated schema for the clauses where the changes in table formats took place.
CA Sudhir Halakhandi The central Board of Direct taxes has extended the date of obtaining and furnishing the Tax Audit report u/s 44AB to 30/11/2014 through an order issued under section 119 of the Income Tax Act, 1961 on 20/08/2014 but the order is silent about the date of filing of Income tax returns u/s […]
Practical Difficulties – Where audit is already completed but report is not uploaded, report will be required to be prepared under new format. E.g. Listed Companies, PSUs, Banks, Insurance companies etc.
Form 3CA & 3CB 1. Period of P&L a/c / Income and Expenditure Account 2. the particulars given in the said Form No. 3CD and the Annexure thereto are true and correct subject to the following observations/qualifications, if any: Form 3 CD 1. Clause – 4 N Particulars Of Registration Excise , Service tax , Sales […]
CA Sudhir Halakhandi The date of obtaining and furnishing of tax audit report u/s 44AB has been extended from 30th Sept. 2014 to 30th Nov. 2014 and while issuing the orders under section 119 the Central Board of Direct Taxes has created one more confusion which is related to the extension of date of ITR.
CBDT on 20.08.2014 released Revised Form 3CA-3CD & Form 3CB-3CD filing utility along with updated Schema. Revised Utility is is now available for e-Filing. CBDT has revised the Format of Tax Audit report vide its Notification No. 33/2014 dated 25/07/2014 and all Tax audit reports submitted on or after 25.07.2014 are required to be submitted […]
