Advocate Nagendra Kumar Kota

23/04/2017

04/04/2017

Income Tax Return Forms ITR-1 (Sahaj), ITR-4(Sugam) are now available for e-Filing

08/11/2016

GST Enrollment scheduled....

27/10/2016

CENTRAL BOARD OF DIRECT TAXES extends time-limit for processing of returns having legitimate refund claim

New Delhi, 25th October, 2016

Order U/s 119 of Income Tax Act, 1961

Issue of Intimation u/s 143(1) of Income Tax Act, 1961 beyond prescribed time in non-scrutiny cases-reg.

It has come to notice that some returns-of-income having claim of refund pertaining to AY2014-15, 2013-14 and 2012-13 were not processed within the time-frame prescribed under sub-section (1) of Section 143 of the Income Tax Act, 1961. Consequently, intimation of 'amount of refund due' which is issued to the taxpayer after processing the income-tax return could not be sent. This has led to a situation where the concerned taxpayer is unable to get his legitimate refund in accordance with provisions of the Act, although the delay is not attributable to him.

On consideration of the matter, in instances wherre a valid return of income having 'claim of refund' for AY 2014-15, 2013-14 and 2012-13 was filed u/s 139 or 142(1) of the Act and in which the time for sending intimation u/sub-sec(1) of section 143 has lapsed, the Central Board of Direct Taxes(CBDT), by virtue of its powers u/s 119 of the Act, hereby relaxes the time-frame prescribed in second proviso to sub-section(1) of section 143 and directs that such returns-of-income shall not be processed by 31-03-2017. Further, intimation of processing and consequential refund, if any, shall be issued expeditiously as per the prevailing norms and existing provisions of the Act.

However, the above relaxation shall not be applicable to those cases where the said return of income was not processed in view of provisions of sub-section (1D) of section 143 of the Act. Further, this relaxation shall not be applicable to those cases where either demand is shown as payable in the return of income or is likely to so arise after processing the return-of-income.

The contents of this order may be brought to the notice of all for necessary compliance.

F.No. 225/220/2016-ITA.II

Rohit Garag,
Deputy Secretary to the GOI

16/09/2016

09/09/2016

President Pranab Mukherjee today gave assent to Constitution Amendment Bill on Goods and Services Tax (GST), a major step towards rolling out the new indirect tax regime which the Modi government wants to come into effect from April 1 next year. Mukherjee has given approval to the bill, official sources said today. The passage of the bill will pave the way for setting up of a GST council that will decide the tax rate, cess and surcharges.
The GST is a single indirect tax which will subsume most of the central and state taxes such as Value Added Tax (VAT), excise duty, service tax, central sales tax, additional customs duty and special additional duty of customs.

The Parliament had on August 8 passed the bill which was then circulated to state governments seeking its ratification. A Constitution amendment bill needs to be ratified by the legislative Assemblies of at least 50 per cent of the states. The bill was sent to the President's secretariat after as many as 17 states, BJP-ruled Assam being the first, ratified the bill. The other states which have passed the legislation include Bihar, Jharkhand, Chhattisgarh, Himachal Pradesh, Gujarat, Madhya Pradesh, Delhi, Nagaland, Maharashtra, Haryana, Sikkim, Mizoram, Telangana, Goa, Odisha and Rajasthan. Revenue Secretary Hasmukh Adhia had recently said that the government is ahead of schedule for implementation of GST. "Instead of 30 days kept for this (states' ratification), it is achieved in 23 days," he had said in a tweet.

Now that the bill has got Presidential assent, the government will notify the GST Council, which will decide on the tax rate. Headed by Union Finance Minister Arun Jaitley, the Council will comprise state Finance Ministers. The states and the Centre are working overtime and talking to stakeholders to draft the Central GST, State GST and Integrated GST laws, which are to be passed in the Winter Session of Parliament.

The CGST and IGST will be drafted on the basis of the model GST law. The states will draft their respective State GST (SGST) laws with minor variation incorporating state-based exemptions. The IGST law would deal with inter-state movement of goods and services.

-source Taxmann

29/08/2016

Tax Calendar - September, 2016

20/05/2016

Do not deny refund in scrutiny cases, let AO decide: Delhi HC

Holding that tax orders are not meant to "add to difficulties" of taxpayers, the Delhi High Court has ruled that the IT department should not "deny" refund to an assessee whose case is being processed under scrutiny and the Assessing Officer will have "discretion" to take a final call on the issue.
A bench of Justices S Muralidhar and Vibhu Bakhru, on May 11, ordered that a January, 2015 instruction issued by the policy-making body of the tax department--the Central Board of Direct Taxes-- in this regard is "unsustainable in law and it is hereby quashed."
The court observed that the said instruction issued by the CBDT curtailed the "discretion of the AO by 'preventing' him from processing the return, where notice has been issued to the Assessee under Section 143(2) of the Act (Income Tax Act)."
Section 143 (2) pertains to the procedure of scrutiny where the IT department calls for additional documents and details before finally processing an IT Return.
The scrutiny procedure is one of the prominent areas of grievance for the taxpayers as it entails furnishing numerous documents and multiple visits to the AO and a number of them make complaints of harassment on this issue to the CBDT and the IT department every year.
However, the department, as per latest figures, has stated that the taxman brings about only 1 per cent of the total cases under the stringent procedure of scrutiny.
"It is directed that the said instruction (of CBDT of January, 2015) shall not hereafter be relied upon to deny refunds to the Assessees in whose cases notices might have been issued under Section 143(2) of the Act. The question whether such return should be processed will have to be decided by the AO concerned exercising his discretion in terms of Section 143 (1D) of the Act (assessment after scrutiny)," the court ruled.
The court said the taxpayers' interests was paramount and the powers of the CBDT are "hedged in by certain limitations."
"The idea of vesting the CBDT with the above power (issuing instructions) is to ensure that there is an ease of administration of the Act and that ambiguities in the practise and procedure may get clarified. At the same time it has to be ensured that such instructions or orders do not add to the difficulties of the tax payers.
"Circulars, orders and instructions issued by the CBDT under Section 119 of the Act, to the extent they are beneficial to the assessees are binding on the department. If they are prejudicial to the tax payer, then they cannot prevail over the statute, which does not envisage such harsher measure," it said. MORE NES DV

11/05/2016

Verification of tax-returns for Assessment Years 2009-10,2010-11,2011-12,2012-13,2013-14,2014-15 through EVC which are pending due to non-filing of ITR-V Form and processing of such returns.

Under the earlier system of e-filing, in tax-returns which were to be filed electronically without digital signature, taxpayer had to take printout of ITR-V form and send it to CPC, Bengaluru within 120 days of transmitting the data electronically. In view of difficulties being faced by the taxpayers in the process, from time to time, relaxation for the filing ITR-V for various assessment years was granted so that process of filing the return could be completed. In law, consequences of non-filing the ITR-V within the time allowed is significant as such a return is/can be declared non-est in law and thereafter, all the consequences for non-Filing a tax return, as specified in the Act follow.

for complete information view below link:

http://www.incometaxindia.gov.in/communications/circular/circular13_2016.pdf

28/04/2016

INCOME TAX E-Filing Vault – Higher Security

Restricting the methods/options for Login and locking the reset password options will secure account from possible mis-use. This is for additional security or secured access.

Pre-requisites
User should be registered in the e-Filing portal.
A valid DSC is already registered in the e-Filing application.
A valid Aadhaar should be linked with PAN in e-Filing (In Case of Individual Users)

16/04/2016

Prime Minister's National Relief Fund, (PMNRF) accepts voluntary contributions from Individuals, Organizations, Trusts, Companies and Institutions etc. All contributions towards PMNRF are exempt from Income Tax undersection 80(G). The PAN number of PMNRF is AACTP4637Q.