Income Tax : Explore the distinctions between business and profession, and how sales, turnover, and gross receipts are defined under the Income...
Income Tax : CBDT updates Form 3CD for AY 2023-2024, including major amendments for tax audit reporting. Essential insights for professionals a...
Income Tax : Key updates to Form 3CEB for specified domestic transactions, following CBDT Notification No. 27/2024, enhancing reporting require...
CA, CS, CMA : Explore disqualifications outlined in Income Tax Act for tax auditors in India, ensuring integrity and transparency in financial g...
Income Tax : Explore details of Clause 44 in Tax Audit Report (Form 3CD) and its GST reporting requirements. Learn how to fill out this crucial...
Income Tax : More than 30.75 lakh audit reports, including 29.5 lakh Tax Audit Reports, were filed for AY 2023-24 by the September 30 deadline,...
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 : Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st Oct...
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 : Discover how Chennai ITAT's verdict affects assessments. Learn how a typographical error in Form 3CD impacts additions to an asses...
Income Tax : ITAT Mumbai order on ITO vs. Sambhav Shelter, where books of account withstand scrutiny despite an inadvertent mistake in the tax ...
Income Tax : Analysis of the ITAT Ahmedabad's ruling on Bharatbhai Makwana Vs PCIT. Delving into the implications of incorrect terminologies in...
Income Tax : ITAT Delhi held that the expenditure not claimed cannot be disallowed while determining the taxable income. Hence, disallowance of...
Income Tax : Understand the implications of the Jayaraj Charles Vs ITO case where ITAT Chennai ruled no penalty should be imposed under section...
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...
Income Tax : CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax A...
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...
Sri Mathur has placed before us an order under Section 119 whereby the due date has already been extended by this order till 15th October, 2018. In view of the above, it appears that the matter has become infructuous as it has lost its efficacy.
In the case of Association Of Tax Practitioners & Hindu Economic Forum Vs. UOI filed with Kerala High Court it was argued that once an assessee is allowed to submit returns upto 15.10.2018, the department cannot demand interest under section 234A for the extended period. Hon’ble high court posted these writ petitions for further consideration on 11.10.2018.
This document is the compilation of all series on Tax Audit. Total 21 issues of this series were published which started since 31st July 2018. I thank everyone for the overwhelming response given to this series and I am sure that this would have helped many professionals in their tax audit reporting. I have received […]
Vishal Garg and others vs Union of India and others (Punjab and Haryana High Court) In respect of Write filed by Mr. Vishal Garg by which he has requested the HC to direct CBDT to extend last date of filing of returns i.e 30th September, 2018 for the assessment year 2018-19 of assessees whose accounts […]
THE WESTERN MAHARASHTRA TAX PRACTITIONERS’ ASSOCIATION Yadav Vyapar Bhavan, Shivaji Road. 602. Shukrawar Peth, Pune – 411 002 Phone 020-2447 0237. Website : www.wmtpa.org Email : [email protected] SS / WMTPA / IT representation /18-19 /0918 20th. September 2018 To, Shri Arunji Jaitley, Minister of Finance, Union of India, Now Delhi – 110 001 Sub: Extension […]
While the Government can be blamed for due date challenge faced by chartered accountants; it is time for practitioners to look at the sustainable solutions to this challenge.
CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept, 2018 to 15th Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s. 234A of IT Act will remain. F.No. 225/358/2018/ITA.II Government of India Ministry […]
Tax Audit under Section 44AB of Income Tax Act A tax audit is an examination of an organization’s or individual’s tax return to verify that financial information is being reported correctly. Tax Audit is attracted on an Individual or an organisation on fulfilling the required conditions of the Income Tax act. 1. What are the […]
BJP economic Cell (Rajasthan), State Co-Convener CA R P Vijay & CA Sachin Kumar Jain have requested Honble FM to extend due date for submission of Tax Audit Reports and Income Tax Returns from 30 September, 2018 to 31 October, 2018 in the case of corporate assesses and where tax audit is applicable so that […]
Tax Audit ensures the correctness of Books of Accounts maintained by tax payer & Income is computed as per Income Tax Act. It is required to by conduct by a whole time practicing Chartered Accountant. It makes the Income Computation for filling the return easy. It is furnished in Form no. 3CA/3CB & Form no. 3CD.
