Goods and Services Tax : The case examined if income details could be disclosed under RTI during a matrimonial dispute. The Court ruled that such disclosur...
Income Tax : ITR-4 Sugam: End of Blind Presumptive Compliance?” The Central Board of Direct Taxes (CBDT) has introduced a significant complia...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : The new law reorganizes provisions and introduces clearer section mapping for business income. It simplifies compliance while reta...
Income Tax : Free products, sponsored trips, and non-cash perks are now taxable under Section 194R if their value exceeds ₹20,000 annually. B...
CA, CS, CMA : The Court found CBDT failed to follow its 2015 directive on timely ITR utility release. It ordered an affidavit with corrective st...
CA, CS, CMA : KSCAA urged CBDT to extend due dates for assessees under Section 92E, citing an omission in Circular No. 15/2025 that created inco...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new I...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : The case addresses the continued failure to release ITR utilities on time despite earlier court directions. The Court adjourned th...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Income Tax : The case focuses on systemic delays and technical shortcomings in the e-filing system. The Court directed the Department to file a...
Service Tax : The case addresses whether discrepancies between ITR/Form 26AS and ST-3 returns can justify a Service Tax demand. The Tribunal hel...
Income Tax : The Tribunal held that the assessee had furnished PAN, bank statements, confirmations, and financial details establishing the iden...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
Income Tax : The corrigendum addresses formatting and reference errors in Schedule CG and Schedule OS. It clarifies reporting fields without al...
Notification No. 28/2014-Income Tax S.O. 1418(E).─In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- (1) These rules may be called the Income-tax (6th Amendment) Rules, 2014.
Income Tax Department has releases utility for A.Y. 2014-15 for Filing of Tax Audit Report , Transfer pricing Audit Report, MAT Audit , Trust Audit, Special Audit etc. Details of such Audit reports is as follows :- Form 3CA-3CD – Audit report under section 44AB of the Income-tax Act, 1961 in a case where the […]
Avoid common mistakes while filing your IT returns! Choose the correct ITR form and save time and effort for yourself and the IT department.
CA Sandeep Kanoi CBDT has vide press release dated 07.04.2014 has released online and offline utility for e-Filing of ITR 1 (SAHAJ) & ITR 4S (SUGAM) for AY 2014-15. CBDT has earlier notified the same ITR forms vide its NOTIFICATION NO. 24/2014, Dated: April 1, 2014.
1. The process of electronically filing Income tax returns through the internet is known as e-Filing. 2. e-Filing of Returns/Forms is mandatory for : Any assessee having total income of ₹ 5 Lakhs and above from AY 2013-14 and subsequent Assessment Years. Individual/ HUF, being resident, having assets located outside India from AY 2012-13 and […]
CA Sandeep Kanoi CBDT has vide Notification No. 24/2014 dated 01.04.2014 amended rule 12 of Income Tax Rules 1962. Prior to amendment of Rule 12 and upto A.Y. 2013-14 All Political Parties were allowed to Furnish ITR 7 in any of the following mode :- (i) furnishing the return in a paper form; […]
CA Sandeep Kanoi CBDT has vide notification NOTIFICATION NO. 24/2014, Dated: April 1, 2014 amended the rule 12 of Income Tax Rules, 1962 and provided that notice under clause (a) of sub-section (2) of section 11 of the Act, shall be furnished electronically in form No. 10 w.e.f. Assessment year 2014-15 before expiry of time […]
CA Sandeep Kanoi Up to A.Y. 2013-14 Partnership Firms to whom provisions of section 44AB (i.e. those Under Tax Audit) were required to furnish the return for assessment year 2011-12 and subsequent assessment years electronically under digital signature but the Partnership firms to whom Provisions of section 44AB were not applicable they were allowed to […]
Notification No. 24/2014-Income Tax S.O.997(E). – In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (4th Amendment) Rules, 2014.
If you are filing online your Income Tax return, the paper copy of the ‘ITRV’ should only be sent through “speed post” to the Central Processing Centre (CPC) of the department in Bengaluru. ITR-V or ‘Income Tax Return Verification’ form is issued as an acknowledgement to returns filed online. You can check the status of […]
