income tax

Extension of due date for filing TAR/ITR – HC declined to interfere

Income Tax - High Court (HC) declined to interfere in the matter of extension of the due date for filing Tax Audit Report (TAR) and Income Tax Return (ITR) The Hon’ble Gujarat High Court in All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No.  13653 and 660 of 2021, dated January 13, 2021] […]...

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15 Suggestions to Rationalise Current Direct Tax Structure

Income Tax - 1. ALLOW FILLING ITR AFTER 31-MARCH OF AY Allow filling Income Tax return after 31st March of Assessment year (Of-course with Higher late fees than currently prescribed ..i.e. Higher than Rs. 10000). Govt will get high revenue if the Taxpayer is having high income.. Earlier 2 years time was allowed to file ITR 2. REDUCTION […]...

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Take appropriate decision on extension of due date of filing ITR & TAR by 12.01.2021: Gujarat HC to CBDT

Income Tax - The Hon’ble High Court, Gujarat in the All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No. 13653 of 2020 dated January 8, 2021] directed CBDT to take an appropriate decision for extension of the due date of filing income tax return (ITR) and Tax audit report (TAR) by January 12, […]...

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What if Due Date for filing ROI on 10th January 2021 falls on a Sunday?

Income Tax - 10th January 2021, the last date of filing of ROI u/s 139(1), falls on Sunday. In such a case what should be the due date ROI u/s 139(1)? 10th January 2021 or 11th January 2021? Opinions varies. An analysis of the provisions affecting the Due Date may perhaps clarify the issue. General Clauses Act 1977: […]...

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ITR Processing & Communication | AY 2020-21| Section 143(1) Intimation

Income Tax - 1. The income tax return filed by the taxpayer is processed by the Central Processing Centre (CPC) of the Income Tax Department.  The CPC (Centralized Processing Centre) in Bangalore is in-charge of handling all the primary processing of assessments. The CPC processes return without any interaction with the taxpayer and in a jurisdiction...

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Empanelment of Special Auditors – Income Tax Department Kerala

Income Tax - The Income Tax Department Kerala invites application from qualified Chartered Accountants firms (within the meaning of the Chartered Accountants Act, 1949) for empanelment as Special Auditors to carry out audit in accordance with the provisions of sec. 142(2A) of I.T. Act, 1961. The remuneration for the Special Audit is governed by Rule 1...

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All India Protest Call against GST/Income Tax Issues by WMTPA

Income Tax - Government is neither listening to representations submitted by various associations, nor listening to court direction in true spirit. In Covid 19 pandemic, all professionals and Trade, ignoring life and death risk, ensured that, India will stand again, paid taxes in lakh crores but it seems government doesn’t recognize us....

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Extend due dates of GST, Income Tax & ROC Compliances

Income Tax - All India Joint Representation Committee for GST have filed representation by way of join petition of 24 GST and Trade Associations and 5226 signatories to the signature campaign considering short extension granted in connection with GSTR 9 & 9C for FY 1819 & FY 1920 , Income Tax Returns, Tax Audit and Transfer Pricing Reports [&h...

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Extend due dates of TAR/ITRs/VSV Scheme for AY 2020-21

Income Tax - Calcutta Citizens’ Initiative, Representation on Extension of due dates of Vivad Se Vishwas Scheme and also for extension of date for TAR and ITRs for asst year 2020-21. Calcutta Citizens’ Initiative 3, Ho Chi Minh Sarani, Ground Floor, Kolkata 700001 Ph – 033-2466-1000 Email: calcuttacitizens@gmail.com URGENT Ref. CII/Rep/2021/...

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Further extend Income Tax Return & Audit due dates

Income Tax - Direct Taxes Professionals’ Association, Kolkata has requested FM for further extension of various due dates under Income-tax Act, 1961 especially Income Tax Return Forms for AY 2020­- 21, Tax Audit Reports and other related Returns for AY 2020­- 21. Text of their representation is as follows:- DIRECT TAXES PROFESSIONALS’ ASSOCIATIO...

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Uttarakhand HC directs CBDT to consider representation on due date extension

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) - The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) High Court held that Admittedly, the country continues to suffer and to reel under the COVID-19 pandemic. A large number of assesses still find it difficult to even meet their Chartered Accountants ...

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Gujarat HC rejects TAR/ITR due date date extension writ applications

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) - At this stage, we may only observe that the CBDT may consider issuing an appropriate circular taking a lenient view as regards the consequences of late filing of the Tax Audit Reports as provided under Section 271B of the Act. We leave it to the better discretion of the CBDT in this regard....

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Consider extension of Income Tax Due dates: Gujarat HC to UOI

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) - All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of India, Ministry of Finance should immediately look into the issue, more particularly, the representation dated 12th October 2020 at Annexure : I of the paper book (page ...

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Deduction u/s 54F Not Eligible for Investment Made in two Differently Placed Properties

Omkar Chadha Vs ITO (ITAT Delhi) - The issue under consideration is whether the investment made in two different properties out of the capital gains is eligible for deduction u/s 54F?...

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Revenue Generated from Bookings Made within India Attributable to PE, Hence Taxable in India

DDIT Vs Travelport L.P. USA (ITAT Delhi) - The issue under consideration is whether revenue generated from the bookings made within India is the revenue attributable to the PE of the assessee is taxable in India?...

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Faceless Penalty Scheme, 2021 – CBDT notifies directions

Notification No. 03/2021-Income Tax [S.O. 118(E)] - (12/01/2021) - CBDT issues Notification No. 03/2021-Income Tax and notifies directions to give effect to the Faceless Penalty Scheme, 2021  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 03/2021-Income Tax New Delhi, the 12th January, 2021 INCOME-TAX S.O. 118(E).—In...

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Faceless Penalty Scheme, 2021

Notification No. 02 /2021-(Income-Tax) [S.O. 117(E).] - (12/01/2021) - CBDT issues Notification No. 03/2021-Income Tax and notifies Faceless Penalty Scheme, 2021. Also Read- Faceless Penalty Scheme, 2021 – CBDT notifies directions MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 12th January, 2021 Notification No. 02/2021...

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Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme

Notification No. 93/2020-Income Tax [S.O. 4805(E).] - (31/12/2020) - Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme vide Notification No. 93/2020-Income Tax dated 31st December, 2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 93/2020-Income Tax New Delhi, the 31st December, 2020 S.O. 4805(E).—In exercise...

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Govt extend due dates of Tax Audit/ITR/VSV Scheme/GSTR 9/9A/9C

NA - (30/12/2020) - In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further extends the dates for various compliances. Due date for filing ITR (Non tax audit) extended till 10/01/2021. Due date for filing Tax Audit and TP Audit Report extende...

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Taxation Laws (Amendment) Act, 2019

Notification No. 46 of 2019 - (11/12/2019) - (1) This Act may be called the Taxation Laws (Amendment) Act, 2019. (2) Save as otherwise provided, it shall be deemed to have come into force on the 20th day of September, 2019....

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Recent Posts in "income tax"

Uttarakhand HC directs CBDT to consider representation on due date extension

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital)

The Dehradun Chartered Accountants Society Vs. Union of India (High Court of Uttarakhand at Nainital) High Court held that Admittedly, the country continues to suffer and to reel under the COVID-19 pandemic. A large number of assesses still find it difficult to even meet their Chartered Accountants and to file their Income Tax Audit Repor...

Read More

Gujarat HC rejects TAR/ITR due date date extension writ applications

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court)

At this stage, we may only observe that the CBDT may consider issuing an appropriate circular taking a lenient view as regards the consequences of late filing of the Tax Audit Reports as provided under Section 271B of the Act. We leave it to the better discretion of the CBDT in this regard....

Read More

Extension of due date for filing TAR/ITR – HC declined to interfere

High Court (HC) declined to interfere in the matter of extension of the due date for filing Tax Audit Report (TAR) and Income Tax Return (ITR) The Hon’ble Gujarat High Court in All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No.  13653 and 660 of 2021, dated January 13, 2021] […]...

Read More
Posted Under: Income Tax | ,

Empanelment of Special Auditors – Income Tax Department Kerala

The Income Tax Department Kerala invites application from qualified Chartered Accountants firms (within the meaning of the Chartered Accountants Act, 1949) for empanelment as Special Auditors to carry out audit in accordance with the provisions of sec. 142(2A) of I.T. Act, 1961. The remuneration for the Special Audit is governed by Rule 1...

Read More
Posted Under: Income Tax |

All India Protest Call against GST/Income Tax Issues by WMTPA

Government is neither listening to representations submitted by various associations, nor listening to court direction in true spirit. In Covid 19 pandemic, all professionals and Trade, ignoring life and death risk, ensured that, India will stand again, paid taxes in lakh crores but it seems government doesn’t recognize us....

Read More
Posted Under: Income Tax | ,

15 Suggestions to Rationalise Current Direct Tax Structure

1. ALLOW FILLING ITR AFTER 31-MARCH OF AY Allow filling Income Tax return after 31st March of Assessment year (Of-course with Higher late fees than currently prescribed ..i.e. Higher than Rs. 10000). Govt will get high revenue if the Taxpayer is having high income.. Earlier 2 years time was allowed to file ITR 2. REDUCTION […]...

Read More
Posted Under: Income Tax |

Faceless Penalty Scheme, 2021 – CBDT notifies directions

Notification No. 03/2021-Income Tax [S.O. 118(E)] (12/01/2021)

CBDT issues Notification No. 03/2021-Income Tax and notifies directions to give effect to the Faceless Penalty Scheme, 2021  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 03/2021-Income Tax New Delhi, the 12th January, 2021 INCOME-TAX S.O. 118(E).—In exercise of the powers conferred by sub...

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Faceless Penalty Scheme, 2021

Notification No. 02 /2021-(Income-Tax) [S.O. 117(E).] (12/01/2021)

CBDT issues Notification No. 03/2021-Income Tax and notifies Faceless Penalty Scheme, 2021. Also Read- Faceless Penalty Scheme, 2021 – CBDT notifies directions MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 12th January, 2021 Notification No. 02/2021-(Income-Tax) S.O. 117(E).—In exercise...

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Extend due dates of GST, Income Tax & ROC Compliances

All India Joint Representation Committee for GST have filed representation by way of join petition of 24 GST and Trade Associations and 5226 signatories to the signature campaign considering short extension granted in connection with GSTR 9 & 9C for FY 1819 & FY 1920 , Income Tax Returns, Tax Audit and Transfer Pricing Reports [&h...

Read More
Posted Under: Income Tax | ,

Take appropriate decision on extension of due date of filing ITR & TAR by 12.01.2021: Gujarat HC to CBDT

The Hon’ble High Court, Gujarat in the All Gujarat Federation of Tax Consultants v. Union of India [R/Special Civil Application No. 13653 of 2020 dated January 8, 2021] directed CBDT to take an appropriate decision for extension of the due date of filing income tax return (ITR) and Tax audit report (TAR) by January 12, […]...

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Posted Under: Income Tax |

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