Efiling of Income Tax Return for AY 2015-2016 now Available

Income Tax Department has launched the Efiling Utility of ITR 1 and ITR 4S today on, 23rd of June, 2015. The schema for ITR 2 and 2A will be made available shortly.  The amended ITR forms are also available for downloading at the Income Tax Website.


To download the schema, visit the below mentioned link:

https://incometaxindiaefiling.gov.in/e-Filing/Services/DownloadSchemas.html

Below is the communication from Income Tax Department regarding new Income Tax Efiling Schema:

New Amended ITR Forms notified by Income Tax Departement for AY 2015-2016

CBDT via its Notification No. 49/2015/ F.No.142/1/2015-TPL has notified amended ITR Forms Sahaj ITR 1, ITR-2, ITR-2A and Sugam ITR-4S.

The forms can be downloaded from:

http://www.incometaxindia.gov.in/Pages/downloads/income-tax-return.aspx

Full Notification as Issued by Income Tax Department for new ITR Forms is given below for the reference:

SBI Concurrent Auditor Empanelment 2015-2016 (LHO Bhubneshwar)

State Bank of India Invites Chartered Accountant firm for Concurrent Audit of LHO Bhubneshwar region for the year 2015-2016. Last date for submission of application is 26th June, 2015. Eligibility condition and overview is given below:

STATE BANK OF INDIA

LOCAL HEAD OFFICE, BHUBANESWAR

SELECTION AND EMPANELMENT OF CHARTERED ACCOUNTANT FIRMS FOR

OUTSOURCING OF CONCURRENT AUDIT

1. State Bank of India: Overview

State Bank India (“SBI” or “Bank”) a body corporate constituted under the State Bank of India Act, 1955 having its Corporate Centre at State Bank Bhavan, Madame Cama Road, Mumbai is the largest commercial bank in India having a nationwide financial network of more than 15000 branches and offices and more than 40,000 ATMs/Internet Banking Kiosks. The Bank has five Associate Banks and many non-banking subsidiaries and Joint Ventures. The Bank also has 189 foreign offices spread over 35 countries covering all time zones of the world. It has its Local Head Office at Bhubaneswar which control 822 branches, 19 BPR Outfits with four Administrative Offices and 21 Regional Business Offices operating throughout the state of Odhisha (at present).

New Cost Audit Report and Appointment Format

With The Companies (Cost Records and Audit) (Amendment) Rules, 2015, MCA  has issued new Cost Audit Report e-forms CRA 2 and CRA 4. The form CRA 2 is available on MCA website for filing and CRA 4 will be shortly made available. Now companies can file their Cost Auditor Appointment and Cost Auditor can file the Audit report with the use of CRA-2 and CRA-4 respectively. Here in this post we are giving the usage and last dates to file these forms with the ROC.

10 Benefits of Efiling Income Tax Returns

Income Tax Efiling is a very common term during this part of the year i.e. June-July, after the months of Feb-March or September. Many of us always had a question as to what is Income Tax Efiling and why are we hearing the word Efiling Income Tax more and more these days. In a laymans terms Income Tax Efiling is nothing but Electronic filing of Income Tax returns which are filed every year. As most of us know that Income Tax returns are to be mandatory filed by all the persons having total income exceeding the income not chargeable to tax.(Sec 139 of Income Tax Act, 1961).

CPT June 2015- Wrong Registration Number on Admit Cards

Student Registration Number of candidates who are admitted to the Common Proficiency Test(CPT) to be held on 14th June 2015. - (09-06-2015)

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9th June 2015

It has been brought to our notice that the student registration number appearing on the admit cards relating to CPT June 2015 (hosted on www.icai.nic.in and in physical admit cards sent by post to those applicants who submitted the OMR exam forms) of some of the candidates is different from their registration number furnished by them in their exam forms. This error has crept in inadvertently, due to some technical problems. The error has already been rectified in the data base of applicants for the CPT to be held on 14th June 2015. Individual communications have also been sent to all the affected candidates by way of a speed post letter as well as by emails, intimating their correct registration number.

No need to File Commencement of Business Form INC-21

As we all are aware that with new Companies Act, 2013 a new form INC-21 was made mandatory to be filed before the commencement of business or Exercising Borrowing power by the Company. This form was made mandatory for Private Companies also, due to which Commencement which was not required to be taken earlier under Companies Act, 1956 by the Private Companies were applicable on them too.

The Relevant Rule 24 of Companies (Incorporation) Rules, 2014 is given below:

"24. Declaration at the time of commencement of business.-
The declaration filed by a director shall be in Form No.INC.21 along with the fee as and the contents of the form shall be verified by a Company Secretary in practice or a Chartered Accountant or a Cost Accountant in practice: Provided that in the case of a company requiring registration from sectoral regulators such as Reserve Bank of India, Securities and Exchange Board of India etc, the approval from such regulator shall be required. "

With the Companies Incorporation (Second) Amendment Rules, 2015, the same is omitted from now on and no Company is required to file INC-21. The relevant portion of the rule is given below:


"2. In the Companies Incorporation Rules, 2014: b) rule 24 shall be omitted"



So Happy Company Formation to all the Entrepreneurs and Professionals.


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