1.  PRESENTATION ON Draft of New Direct tax Code (Series-2. Assessment, appeals etc.)

(Click here for presentation)

   

2.  Correction in Power point presentation on Tax Audit sent on 17/08/2009.

 

Note:

Kindly Read the presentation on Tax Audit circulated on 17/08/2009 after considering the below mentioned change.

   

Slide No 19, to be read as under:

 w       All the companies has to mandatorily file the return electronically. 

w      All the partnership firms which are subject to tax audit has to mandatorily file the return electronically.

w        The Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, required assessees who filed their income tax returns in electronic form without digital signature to submit their verified ITR-V form, within a period of 30 days. The ITR-V form was required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post. However  the CBDT has now extended the time limit of 30 days, as now the ITR-V form in case of returns filed electronically (without digital signature) on or after 1st April, 2009 can now be filed on or before the 30th September, 2009 or within a period of 60 days of uploading of the electronic return data, whichever is later.

     

Instead of :

   

w        It is compulsory to file the return electronically in case your business income is subject to tax audit i.e. if the turnover exceeds Rs. 40 lakhs or in case of a company both private and public.

  

w        In case an assessee files the return with his digital signature then he is not required to submit the hard copy of the return otherwise he has to submit the print out copy of the return to bangalore office through normal post within thirty days after the date of transmitting the data electronically.

 

    

Presentation after making the respective changes has been hosted on our site www.voiceofca.in for your reference.

 

 

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Thanks for your valuable time

    

"Voice of CA"

  

   

CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com

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