INCOME TAX AUDIT

income tax scrutiny assessment

Section 143(3) Income-tax Scrutiny Assessment

Section 143(3) Scrutiny Assessment- Income tax assessment is the process of verification of the information a taxpayer has provided in the returns submitted by a taxpayer to the income tax department. An assessment is carried out by the Income Tax department after the filing of an income tax return by an assessee. The purpose of conducting the …

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Remuneration From Partnership Firm Can Not Be Included in Gross Receipts For The Purpose Of Tax Audit: Bombay High Court

Case: Perizad Zorabian Irani v. PCIT Court: Bombay High Court Judgement Summary: The petitioner is an actress shown her professional income and also remuneration from two partnership firms in her return of income. The professional income being less than prescribed limit petitioner has not obtained the tax Audit report. The Assessing Officer held that though …

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What Are Form No. 3CA/ 3CB And 3CD Under Income Tax?

​​​​​The report of the tax audit conducted by the chartered accountant is to be ​furnished in the prescribed form. The form prescribed for audit report in respect of audit conducted under section 44AB​ is Form No. 3CB and the prescribed particulars are to be reported in Form No. 3CD. In case of persons covered under …

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Income Tax Return: Be Ready to Pay Higher TDS if you Do Not Do this by March 31

If you have not linked your Permanent Account Number or PAN with Aadhaar card, be ready to pay higher Tax Deducted at Source (TDS) from next month. The last date for linking your Aadhaar number and PAN has been extended to March 31. Failing to link these two documents within the mentioned deadline, will have …

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ITR and Audit Due date Further Extended on 11.01.2022

ITR and Audit Due date Further Extended on 11.01.2022 [Extension Table for AY 2021-22]

ITR and Audit Reports Due Date Further Extended on 11.01.2022 by CBDT The Central Board of Direct Taxes (Income Tax Department) vide F. No. 225/49/2021/ITA-II  dated 09.09.2021 {CBDT Circular No.01/2022 dated 11.01.2022}has decided to further extend the due dates for filing of Income Tax Returns (ITR) and various reports of audit for the Assessment Year …

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Extension of various dues dates of filing Audit Reports and Income Tax Returns under Income Tax Act, 1961 in the backdrop of technical glitches on the IT portal coupled with Covid-19 third wave

Extension of various dues dates of filing Audit Reports and Income Tax Returns under Income Tax Act, 1961 (Representation)

BCAS jointly have made a Representation Smt. Nirmala Sitharaman for extension of various dues dates of filing Audit Reports and Income Tax Return under income tax Act, 1961 in the backdrop of technical glitches on the IT portal coupled with COVID19 third wave ITR Date: 08.01.2022 To, Smt. Nirmala Sitharaman Hon’ble Union Minister for Finance …

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Legal Notice issue to CBDT for Not Extending Income-tax Return Due Date

Legal Notice on behalf of All Odisha Tax Advocates Association, Regd. Office:-CTBA Centre, Sector-2, CDA, Markat Nagar, Cuttack-753014 represented through its General Secretary Shri Bibekananda Mohanti for refusing to extend the due date of filing returns of the assessees of Odisha for the Assessment Year:2021-2022 after 31/12/2021 and imposing late filing fee u/s.234F of the I.T.Act,1961 …

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Request for waiver of Late Fees u/s. 234F of the IT Act and extension of Audit report & Income-tax Return for A.Y. 2021-22

Request for waiver of Late Fees u/s. 234 F of the Income Tax Act and extension of Date for filing of audit report & audited I T Return for A.Y. 2021-22 Tax Advocates Association Gujarat To,1. Hon’ble Smt Nirmala SitharamanjiUnion Minister of Finance,Ministry of Finance Govt. of IndiaNorth Block, NEW DELHI – 110001Email : fmo@nic.in 2. …

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Have you missed the deadline of December 31? Know what are the options now?

The last date for filing Income Tax Return i.e. ITR (Income Tax Returns) for the assessment year 2021-22 was 31 December 2021, which has now passed. If you have not filed your ITR till this date, then there is no need to panic. You can still file your ITR. There is an opportunity to file …

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Good News for Taxpayers: Govt may extend ITR filing deadline beyond December 31, 2021

The Union government is mulling extension of the deadline for filing Income Tax returns beyond December 31, 2021, CNBC-TV18 reported on December 27, owing to complaints regarding the new I-T portal. Earlier on December 26, the I-T department informed that over 4.43 crore income tax returns (ITRs) for the 2020-21 fiscal have been filed, including over 11.68 lakh returns …

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Biggest recovery ever in the history of CBIC

WHAT IS e-FILING ? ADVANTAGES OF e-FILING

WHAT IS e-FILING ? THE PROCESS OF ELECTRONICALLY FILING INCOME TAX RETURN, THROUGH THE INTERNET, IS KNOWN AS e-FILING WHO CAN e-FILE? Individuals HUF Companies / BOI / AOP / Firms / Trusts / Local authorities / Artificial juridical person External Agencies Tax professionals – Chartered Accountants Tax Deductors and Collectors Electronic Return Filing Intermediaries …

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Benefits for Retired Employees under Income Tax Act 1961

Benefits for Retired Employees under Income Tax Law

Highlight Higher Basic exemption limit Exemption from tax on amount received as Gratuity, Commuted Pension, Leave Encashment and from Provident Fund Higher deduction for Medical Insurance Premium Higher deduction limit for interest from Banks and Post Office …… and many more BENEFITS UNDER DIRECT TAXES FOR RETIRED EMPLOYEES I have retired from service, after serving …

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Extension of due date for furnishing of Income-tax returns, Tax audit reports

Extension of due date for Income-tax returns, Tax audit reports

extension of due date for furnishing of Income-tax returns, Tax audit reports etc. & [b] Issues faced by us after launching of new website MAHARASHTRA TAX PRACTITIONERS’ASSOCIATION (Formerly known as The Western Maharashtra Tax Practitioners’ Association) “Dnyan Mandir”, Yadav Vyapar Bhavan,Shivaji Road, 602, Shukrawar Peth,Pune – 411 002 Maharashtra 020-2447-0237mtpa81@gmail.comhttp://www.wmtpa.org SS / MTPA / IT representation …

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Extension of due dates of Income tax returns & Tax audit reports for FY 2020-21 (AY 2021-22)

Gujarat Chamber of Commerce & Industry Shri Ambica Mills,Gujarat Chamber Building,Ashram Road, Ahmedabad 380009,Gujarat, India. Request for Extension of due dates of Income tax returns & submission of Tax audit reports for FY 2020-21 (AY 2021-22) 15th December, 2021/14945 To, Smt. Nirmala SitharamanHon’ble Union Minister of Finance,Ministry of Finance,Government of India,North Block,New Delhi — 110001 …

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extend ITR & Tax Audit Report due dates

Extension of due date for furnishing of Income-tax returns, Tax audit reports etc.

extension of due date for furnishing of Income-tax returns, Tax audit reports etc. & [b] Issues faced by us after launching of new website MAHARASHTRA TAX PRACTITIONERS’ASSOCIATION (Formerly known as The Western Maharashtra Tax Practitioners’ Association) “Dnyan Mandir”, Yadav Vyapar Bhavan,Shivaji Road, 602, Shukrawar Peth,Pune – 411 002 Maharashtra 020-2447-0237mtpa81@gmail.comhttp://www.wmtpa.org SS / MTPA / IT representation …

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Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic

[BIG BREAKING] Income Tax Return, Tax Audit Due Date & Other Due Dates Extended

Income tax return, tax audit due date & Other dates extended Circular No. 9 of 2021 F.No.225/49/2021 -ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, Dated 20th May, 2021 Subject: Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic The Central Board of …

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CBDT Issues Clarification in Respect of Residential Status under Income Tax Act, 1961

CBDT Disposed Off All the Representations for Extension of Due Date for Filing Income Tax Audit Report

CBDT Disposed Off All the Representations for Extension of Due Date for Filing Income Tax Audit Report On 11th January, 2020, CBDT passes order u/s 119 of Income-tax Act, 1961 in F No. 370153/39/2020-TPL disposing off the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the order …

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