Due date for filing IT Returns extended till 31st Aug 2015

The Income-tax Department vide Order under Section 119 of the Income-tax act,1961 dtd 10th June 2015 (F.No.225/154/2015/ITA.II) has extended the due date for filing the return of income in respect of assessees whose accounts are not required to be audited (including assessees having only salaried income). As per the said order, the last date of filing the return of income in respect of these assessees has been extended from 31st July 2015 to 31st August 2015 in respect of the year 2014-15 (Assessment year 2015-16).

The relevant order of the Income-tax department is reproduced below :-

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NO TDS on Service Tax , if shown seperately

There has been confusion with regard to inclusion of Service Tax component in respect of Payments which are also subject to Tax Deduction at Source (TDS). Earlier the CBDT had issued a Circular No 4/2008 , wherein in respect of Rent Payments, it was clearly mentioned that the TDS Shall be deducted only on the Rent Portion of the Payment only and Service Tax Shall be excluded from TDS Payments. But in respect of other payments, it was not clear whether the Service Tax component has to be included for TDS Deduction or not.

The CBDT has vide its Circular No 1/2014 dtd 13th January 2014 has clarified this position and as per this circular, it has been clarified that wherever in terms of the agreement/contract between the payer and the payee, the service tax component in indicated seperately, TDS shall be deducted on the amount paid/payable without including the service tax component.

The relevant circular is reproduced below :-

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E-filing of Audit Reports now made mandatory from A.Y.2013-14.

The Income-tax department has issued a new notification which requires the following Audit Reports to be filed electronically from A.Y.2013-14 (F.Y.2012-13) onwards. These audit reports needs to be filed electronically with the Digital Signature of the Chartered Accountant who has signed the report. As per this notification 42/2013 dtd 11/06/2013, the following reports are required to be filed electronically :-

1) Audit Report of Charitable Institutions u/s. 10(23C),10 & 12A

2) Audit Report u/s. 44AB – Audit report in respect of business with Turnover of Rs. 1 Crore or above / Business which declares income which is less than 8% of the Turnover of the business

3) Audit Report u/s. 10 A – In respect of units established in Trade Free Zone.

4) Audit Report in respect of Industrial units claiming deduction u/s. 80IA,80 IB, 80IC, 80ID,80JJA & 80 LA

5) Audit Report in respect of cases where transfer pricing regulations are applicable.

6) Audit Report in respect of Companies to which MAT (Minimum Alternate Tax) is applicable.

This notification also specifies that where an assessee is claiming relief under section 90 or 90A or deduction u/s. 91 of the Income-tax Act, such assessees shall filed their Income-tax returns electronically.

The relevant notification is reproduced below :-

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Statutory Obligations for the month of May 2013

The following are the Various Statutory Obligations for the month of May 2013.

Payment of Service Tax

The last date for Payment of Service tax pertaining to the month of April 2013 is 5th of May 2013. In case of e-payment, the due date is 6th of May 2013.

In case of payment by Challan GAR 7, click here to download the Challan

In case of e-payment of Service Tax, Click here to make the payment online.


Remittance of Tax Deduction at source

The due date for remitting Tax Deducted at Source (TDS) on Salary & Non-salary payments during the month of Apr 2013 is 7th of May 2013.

Click here to pay the TDS online.


 Monthly Return and Payment of Tax under TNVAT

The monthly returns filing and the payment of TNVAT has to be complied on or before 20th of May for the month of April 2013.


 Quarterly Return of TDS for the Quarter Ending March 2013

The Quarterly returns (Form 24Q/26Q/27EQ) pertaining to the quarter ended March 2013 (Jan-Mar 2013) has to be filed on or before 15th of May 2013.

Issue of TDS Certificates

TDS Certificates in Form 16A (Other than salaries) for the Quarter ended March 2013 shall be issued on or before 30th of May 2013

TDS Certificates in Form 16 (Salaries) for the financial year 2012-13 shall be issued on or before 31th of May 2013


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