Income Tax : Learn about common irregularities in tax audit reports for AY 2023-24, including reporting gaps in Forms 3CA/3CB, SA 700, and sect...
CA, CS, CMA : Overlapping deadlines for MCA, tax audits, and GST filings are creating difficulties for professionals, leading to late fees and c...
Income Tax : Learn about disallowances under Income Tax Act sections and their reporting requirements in Form 3CD during tax audits. Key provis...
Income Tax : Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosure...
CA, CS, CMA : Find out who needs to file a Tax Audit Report by September 30. Learn about the criteria, deadlines, and penalties for non-complian...
Income Tax : Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to t...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Read CAASs recommendations for fair tax audit allocation, ensuring auditor independence and quality. They suggested automated allo...
Income Tax : Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Detai...
Income Tax : ITAT Delhi cancels ₹1,09,807 penalty u/s 271B for Ved Singh, acknowledging his commission-based income and reasonable belief on ...
Income Tax : ITAT Delhi rules on Sh. Nikki Tyagi's appeal against penalty under Sec. 271B for failure to audit accounts due to turnover limits....
Income Tax : ITAT Chennai deletes Section 271B penalty for audit delay due to partner's health issues in Balaji Logistics case. Learn about the...
Income Tax : ITAT Ahmedabad's verdict exempts individuals not subject to tax audit from TDS obligations, highlighting the Nilesh Patel vs DCIT ...
Income Tax : Analysis of the ITAT Ahmedabad's ruling on Bharatbhai Makwana Vs PCIT. Delving into the implications of incorrect terminologies in...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Read Circular 18/2023 from the Government of India Ministry of Finance. Learn about the extension of the filing deadline for Incom...
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 : On consideration of difficulties reported by taxpayers/stakeholders due to Covid & in e-filing of Audit reports for AY 2021-22...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July, 2021 under sub-section (1) of...
Penalty u/s. 271B is attracted for failure to get accounts audited u/s. 44AB. Even though the law prescribes the levy of penalty, in case of default, the same is not automatic as provisions of Section 273B gives relief, when there is a reasonable cause.
After lot of struggle by the Tax Payers, Tax Consultants, Chartered Accountants etc., the due date for e filing of tax audit U/s. 44AB of the Income Tax Act has been re extended by the Government to 07th November, 2017.
CBDT has extended Due date for filing ITRs & Tax Audit Reports under Income Tax Act,1961 from 30.09.2017 to 07.11.2017 for those who were liable to file ITRs by 30.09.17. The Extension was first announced on Twitter at 10.21 PM on 31.10.2017 and later by way of press release on pib.nic.in at 11.35 PM. Further […]
CBDT further extends the ‘due-date’ for filing income-tax returns and reports of audit pertaining to Assessment Year 2017-2018 from 31st October, 2017 to 7th November, 2017
Income Tax Department has extended tax audit due date for ay 2017-18 and Income Tax Return filing due date for ay 2017-18 vide its notification dated 31st October 2017. Extended due date for filing of Tax Audit Report and Income Tax Return for AY 2017-18 fot those Assessee who filing date for same was 30th […]
As we all know Extended due date to file Tax Audit Report and related ITR for A.Y. 2017-18 is 31st October 2017, which the Taxpayers and Tax Professionals across the country were demanding to be further extended till 30th November 2017. One of the Major Arguments and reason for asking the extension was additional workload […]
We have created a Poll on our twitter page on 24th October 2017 asking Taxpayer and Tax Professionals across India that do they think that Time Limit for filing IT Return (44AB Audit Cases) must be further extended to 30th November 2017. In response to our poll we have received 3285 Votes and 90% of […]
It is estimated that a large number of cases are pending, countrywide, for audit as well as filing of related Income Tax Return(ITR), where there is compulsory requirement of audit & filing of ITR upto 31st of October 2017. Central Board of Direct Taxes (CBDT) has done a great job by already extending the due date of 30.09.2017 to 31.10.2017 for filing of audit reports and returns well understanding in advance the hard realities in the matter.
Members are requested to advise their clients to timely approve the tax audit reports under their digital signatures for the AY 2017-18 uploaded by them on the e-filing portal The Department of Income-tax (Systems) has informed ICAI that a large number of tax audit reports have been uploaded by the members but the same have […]
CBDT and Finance Ministry seems to have their own merrily way as despite request from Taxpayer all around the country they have not bothered to accept their request for extension of due date of Income Tax Returns which are falling due on 31st October 2017 to 30th November 2017.
