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Showing posts from September, 2014
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 extended due date of filing ITR (which requires TAR) to 30th Nov, but interest u/s 234A is leviable

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…


M/s N.K. Goel & Bros.
Chartered Accountants
CA Yashu Goel

Gujarat HC Raps CBDT Over ROI Due Date Non-Extension Fiasco

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…

Whether customized software is "production"?