Saturday, 5 July 2014


CBDT releases Form BB (Return of Net Wealth) for AY 2014-15 for assessee being individual or HUF who is liable to audit u/s 44AB are required to furnish Form BB (Return of Net Wealth) electronically under digital signature for assessment year 2014‐15 and onwards. [Refer Notification No:32/2014 dated 23/06/2014].

CBDT has on 03.07.2014  released Java Utility of ITR 7 for online filing of ITR-7 for Assessment Year 2014-15 to furnish return under section 139(4A) etc.

Restriction of 4 mail id and mobile number has been withdrawn..
Now one mail ID and one mobile no. Is allowed for 10 tax payers instead of 4.

Attn CAs. Limit of 60 for Tax Audit applicable to Assessment Year & not Financial Year. Applicable wef AY 2014-15. ICAI Revised Council Guidelines.

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