Judgment of HM industries Delhi HC pronounced on 26/10/2014-- The judgment can be seen through the link. It deals with the limitation U/s 34 of DVAT Act as to when the extended period of six years can be invoked while making a default assessment U/s 32. An imp. question of Law decided in favour of Assessee & against the Revenue.Shall put stop to AO's invoking 6 yrs period of limitation recklessly.http://lobis.nic.in/dhc/VKR/judgement/26-10-2014/VKR26092014STA322013.pdf
GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS OFFICE OF THE REGISTAR OF COMPANIESRoC-Delhi Dated: 1st Oct 2014Dear Sir/Madam,Subject: Annual filing by companies incorporated under the Companies Act, 2013 for financial year 2013-14 and filing under The Company Law Settlement Scheme, 2014 Regarding.1. As you are aware, Companies are statutorily required to file Annual Return & Balance Sheet every year. These filings account for approximately 50% of the total filings done during the year. Further last date of filing under The Company Law Settlement Scheme, 2014 is 15.10.2014. It is observed that bulk of annual filings is being done during the months of October and November. To avoid last minute rush and system congestion in MCA21 during the months of October to November 2014, you are requested to file your Balance Sheet and Annual Return without waiting for the last date. 2. In case your company has already filed the relevant forms as above, please ignore the mail.Yours faith…
With effect from 1st October, 2014; every assessee is required to pay service tax electronically through internet banking therefore service tax liability for the month of September, 2014 or quarter ending September, 2014 is required to be paid electronically irrespective of the constitution of assessee and quantum of turnover/service tax.Here we would also like to mention that relaxation from e-payment may be allowed by the Deputy Commissioner/Asst. Commissioner on case to case basis.(Notification No. 09/2014-ST) -- M/s N.K. Goel & Bros. cayashugoel.blogspot.com Chartered Accountants CA Yashu Goel 9899263490
CBDT's Order U/s 119 Extending ROI Due Date For AY 2014-15In addition to the Press Release, the CBDT's formal order dated 26.09.2014 u/s 119 of the Income-tax Act, 1961 extending the due date for filing the return of income from 30.09.2014 to 30.11.2014 is also available. The Order explains in detail the circumstances in which the aforesaid extension is granted.It may be noted that the benefit of the aforesaid extension is NOT available to companies which have suffered a loss and which are not required to get their accounts audited u/s 44AB, non-working partners of partnership firms, charitable trusts etc.
CBDT Notification North Block, TPL Division New Delhi, the 26th September, 2014
Order under section 119 of the Income-tax Act, 1961
Section 44AB of the Income-tax Act, 1961 ('the Act') read with rule 6G of the Income-tax Rules, 1962 ('the Rules') requires certain persons to file tax audit report in Form No.3CA/Form No.3CB along with prescribed particulars in Form No.3CD. Vide Notification No. 33/2014 dated 25th July, 2014, the forms for filing tax audit report have been revised. As per section 44AB of the Act, the tax audit report has to be obtained and furnished electronically by 30th November of the Assessment year in case of an assessee who is required to furnish report under section 92E of the Act and 30th September of the Assessment year in case of other assessees.
2.In view of the representations received by the Central Board of Direct Taxes ('the Board'), the due date for obtaining and furnishing of tax audit report under section 44AB of the Act f…
All Gujarat Federation of Tax Consultants vs. CBDT (Gujarat High Court)Strictures passed against the CBDT for seeking to take advantage of its own wrong and disregarding genuine hardship of taxpayers. Due date for filing ROI extended to 30.11.2014 subject to charge of s. 234A interestThe Petitioner filed a Writ Petition claiming that the action of the CBDT/ Government in issuing Notification dated 25.07.2014 to exercise the due date for filing the tax audit report u/s 44 AB but in not extending the due date for filing Income Tax Returns from 30.09.2014 to 30.11.2014 was arbitrary. It was pointed out that great prejudice was being caused to the taxpayers by the said action of the CBDT. HELD by the High Court:(i) We are not impressed by the stand taken by the Revenue urging inter alia that the format of the tax audit report nowhere requires certification of the Tax Consultants or Tax Auditors in relation to the information to be furnished for which Tax Audit is conducted …. Though the f…
19/2014-ST dt. 25-08-2014Seeks to amend the Service Tax Rules, 1994 (Second Amendment)18/2014-ST dt. 25-08-2014Seeks to notify the date on which Clauses A, B, C of the section 114 of the Finance (No.2) Act 2014 becomes effective. -- M/s N.K. Goel & Bros. cayashugoel.blogspot.com Chartered Accountants CA Yashu Goel 9899263490
Delhi Tax Compliance Achievement Scheme (Amnesty Scheme)ØProvided additional facility to Works Contract dealers who could opt the scheme by paying 1% or 3% of the turnover like an existing Composition Scheme. ØThe Assessment orders, issued, if any, become null and void in such cases once DSC 3 is issued.ØBut, the order shall stand in the System till it is nullified. Therefore, to smoothen the process, and to maintain correct data base, it has been decided that in cases where DSC-3 has been issued, the assessment orders have to be nullified in the prescribed manner (Circular attached). -- www.taxingnarad.com
Clarification about applicability of sections 139(5) and 139(7) of the Companies Act, 2013 (New Act), which deal with appointment of auditors by Comptroller and Auditor General of India (C&AG), to 'deemed Government Companies' referred to in section 619B of the Companies Act 1956 (Old Act) i.e. companies where ownership or control lies with two or more Government companies or corporations etc in the manner detailed in section 619B ibid.
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Dear Members,The Hon'ble CBDT has issued Instruction No 5/2014 dated 10.07.2014, by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised.The New limits are: Tax effectAppeal before ITAT Rs. 4,00,000/-High Court Rs. 10,00,000/-Supreme Court Rs. 25,00,000/-Copy of Instruction is attached for your information.