Wednesday, September 9, 2015

No Extention of Due Date for E filing Tax Audit Reports and Income Tax Returns

Since the last date for filing Income Tax return is finally over, all the Tax Practitioners  has started Efiling the Tax Audit Report and Income Tax returns of Audited as well as company form of Tax Payers. Rumors has already been running nation wide that Last date of filing Income Tax Returns for these Tax Payers will increase to 31st October or 30th November. Due to which many Income Tax payers who are required to get Tax Audit done can be seen relaxing. But today Ministry of Finance has issued some bad news for them.  Ministry of Finance has recently issued Press Release in which it has clearly mentioned that:

"No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees Including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited; Taxpayers are Advised to file their Returns Well in Time to Avoid Last Minute Rush "

Wednesday, September 2, 2015

Income Tax Return Filing Dates Extended to 7th September (All Taxpayers)

Last date for filing Income Tax Return for AY 2015-2016 was extended earlier to 31st August from 31st July 2015. After the end of due date CBDT has been receiving a lot of representations from various groups regarding hardships faced in filing of Income Tax Returns. The dates were Increased for Gujarat recently but nothing was done for Other states taxpayers. After a lot of representations CBDT has finally increased the due date for filing the Income Tax Returns for AY 2015-2016 to 7th September, 2015.

Friday, August 7, 2015

Efiling of ITR 6 and ITR 7 is Enabled

Income Tax Department has recently notified ITR Forms for AY 2015-2016 for filing manually to Income Tax Department. Department has also issued Utility for Efiling of these ITR1, ITR2, ITR3, ITR4, ITR4S and ITR5 till now and same has also been enabled at Income Tax Website for Efiling. To read our Updates regarding these forms please click on below mentioned links:

Wednesday, August 5, 2015

10 Changes in Income Tax Return Forms for the Assessment Year 2015-2016

Recently Income Tax Department has issued new ITR forms for Assessment Year 2015-2016. These new forms are also available at efiling portal for Efiling Income Tax Returns. As the last dates for filing these forms are coming close, we have come with our Another list- 10 Changes in Income Tax Return for the Assessment Year 2015-2016.

Most of us rely on Income Tax Return preparation Softwares to Efile Income Tax Returns. We feed the details and software provide us with the Computation, missing data and errors in our XML file and we finalize our Income Tax Return. But have we ever wondered, if the rules used by the software companies are not correct. What will happen then? The answer is coming to us regularly these days in the form of Notice of Defective returns under section 139(9) or wrong processing of the returns under section 143(1). To save oneself and clients we should always look the manual copy of return before efiling it and also try to read the XML file (if possible). Here we are giving 10 things that has changed in ITR this assessment year and we should check it before filing the Income Tax Returns.

Monday, August 3, 2015

Allahabad Bank Concurrent Auditor Empanelment for 2015-2016

Allahabad Bank Invites Application from Chartered Accountants Firms for Empanelment as Concurrent Auditor/Revenue Auditor for the year 2015-2016. The application is to be given in the format prescribed by the Bank and it shall reach the Dy.General Manager, Inspection Deptt, Concurrent Audit Cell, Head office, Fourth Floor, 14, India Exchange Place, Kolkata –700001 only by postal service / courier. The last date for submitting application is 18th August 2015.

Saturday, August 1, 2015

Efiling of ITR 3, ITR 4 and ITR 7 Now Available

As the last date to Efiling the Income Tax returns for Non Audited as well as Audited Income Tax Returns are coming close, Income Tax Department is in huge pressure to issue the relevant forms and Utility for accepting the returns.Two days ago we have updated our readers with the notification where by which Income Tax Department has notified the new ITR Forms ITR3, ITR 4, ITR5, ITR 6 and ITR 7. To read the full notification click on below mentioned link:

Friday, July 31, 2015

CA-IPCC May 2015 Results Declared (Rankholders and Pass Percentage)

The Institute of Chartered Accountants of India has today on 31st July 2015 declared the results of CA-IPCC. The examination of different levels of Chartered Accountant Course was held in the month of May 2015 and the results of the CA-Final and CA-CPT was declared earlier this month. To check merit list, pass percentage and results of CA-Final and CA-CPT please click on below mentioned link:

To check your results please click on below mentioned link of ICAI: