Income Tax : The new Form 26 replaces multiple audit forms with a single structured framework. It enhances transparency and introduces system-d...
Income Tax : Explains how Draft Form 26 fundamentally reshapes tax audit reporting by expanding it beyond book-to-tax reconciliation. The key t...
Income Tax : Understand the provisions of tax audit under Section 44AB of the Income Tax Act, including its objectives, applicability, prescrib...
Income Tax : Author note I was working on tax audit’s of one of my client’s, after submitting the report management wanted to make changes ...
Income Tax : Form 3CD requires mandatory reporting on taxpayer identity, business status, accounting methods (ICDS), depreciation, inadmissible...
Income Tax : MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2...
Income Tax : Laghu Udyog Bharati seeks extension of due date for filing Tax Audit Reports and ITR for AY 2025-26, citing portal issues, delays,...
Income Tax : Taxpayers and CAs request an extension of the September 30 tax audit deadline and a waiver of advance tax interest, citing portal ...
Income Tax : ICAI requests CBDT to extend tax audit and ITR filing deadlines due to delayed ITR utilities and seeks auto-renewal of registratio...
Income Tax : The CA Association Jalandhar has requested extension of TAR and 12A renewal deadlines to 30 Nov 2025 citing ITR delays, portal iss...
Income Tax : ITAT Delhi allowed the appeal after noting the CIT(A) ignored a revised Tax Audit Report proving timely PF/ESI payments. Key takea...
Income Tax : ITAT Delhi allows Henna Industries' appeal, deleting a Rs. 9.30 lakh disallowance made by the CPC under Section 143(1), confirming...
Income Tax : Allahabad High Court in the case of CIT vs. U P Hotels Pvt. Ltd. has held that in case assessee has not claimed any deduction in r...
Income Tax : Karnataka High Court grants another opportunity to C.T. Raghu to submit documents after his Tax Audit Report was rejected for unsi...
Income Tax : Discover how Chennai ITAT's verdict affects assessments. Learn how a typographical error in Form 3CD impacts additions to an asses...
CA, CS, CMA : ICAI sets limit of 60 tax audit assignments per CA or partner annually, effective from 1 April 2026, replacing earlier 2008 guidel...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
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 : CBDT extends the due date for filing of various reports of audit for Assessment Year 2022-23 from 30th September, 2022 to 7th Octo...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
We therefore requested that CBDT shall also exercise discretionary power vested u/s 119 of I.T Act 1961 by extended the due date to 31st March 2021 to ameliorate the difficulties faced by assessee in this corona period.
We request that looking to the circumstance and looking to the government guidelines regarding gradual reopening of offices etc. the time limit for filing of Income Tax returns and Income Tax Audit Report may kindly be extended till 31St December, 2020.
Gujarat Chamber of commerce & Industry Request for extension of due date for submission of Tax Audit Report for A.Y. 2020-21 and Income Tax returns for A.Y. 2020-21 to 31st December, 2020. Gujarat Chamber of commerce & Industry 14th October, 2020/16371 Smt. Nirmala Sitharaman The Hon’ble Union Minister of Finance, Ministry of Finance, Government of […]
The recent CBDT circular on extension of due date for assessees required to get their accounts audited u/s 44AB has brought to light many things. Once such thing is the implication for assessees having having turnover less than Rs. 1 crore and having Net loss from business.
Article contains Matrix for Tax Audit Requirement Under Section 44AB for A.Y.2020-21. Matrix has been prepared after considering provisions of section 44AB and 44AD for A.Y.2020-21
Form No. 3D for Assessment Year 2020-21 i.e. Financial Year 2019-20 is amended by CBDT vide Notification No. 82/2020-Income Tax/G.S.R. 610(E) dated 01st October 2020. We have compiled the same based on changes made on 01.10.2020 and reproduced the same below- ”FORM NO. 3CD” [See rule 6G(2)] Statement of particulars required to be furnished under […]
Amendment of the Income-tax Rules, 1962 to prescribe manner relating to option under section 115BAC and 115BAD, and that of determination of depreciation under section 115BAA to 115BAD, of the Income-tax Act, 1961 CBDT vide Notification No. 82/2020-Income Tax notifies changes in Form 3CD, Form No 3CEB and ITR6. It amended Rule 5 of Income […]
Article explains Tax audit under section 44 AB of the Income Tax Act, 1961 and its due date and implications if not completed within the due date.
Request for extension of due date of filing Return of Income (ITR), Tax Audit Report and Transfer Pricing Report for the Assessment Year 2020-21 by Chamber of Commerce and Industry. Dated- 08/09/2020 Mr. P.C. Mody, IRS Chairman Central Board of Direct Taxes Department of Revenue Ministry of Finance Government of India North Block New Delhi-110 […]
National Association of Tax Professionals (Haryana Chapter) submitted a representation to The Central Board of Direct Taxes requested for Extension of Date of Filling of ITR and Audit Report. From: National Association of Tax Professionals (Haryana – Chapter) SCO-409,First Floor Mugal Canal, Karnal Haryana 5th, September, 2020. To, The Chairman, The Central Board of Direct […]
