Month: September 2014

CBDT’s Order U/s 119 Extending ROI Due Date For AY 2014-15

In 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

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CBDT Extends Due Date For Filing ROI For AY 2014-15 To 30.11.2014

Text of Press Release Issued By The CBDT: Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified Cases As per the provisions of the Income-tax Act,

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CBDT Clips AO’s Power To make Fishing Enquiry In CASS cases

The CBDT has issued Instruction No. 7 of 2014 dated 26.09.2014 pointing out that in cases selected for scrutiny under Computer Aided Scrutiny Selection (‘CASS’), some AOs routinely call for information which is not relevant for enquiry into the issues to be considered. This has been causing undue harassment to the taxpayers and has also drawn adverse criticism from several quarters. The CBDT has directed that cases selected for scrutiny during the Financial Year 2014-2015 under CASS, on the basis of either AIR data or CIB information or for non- reconciliation with 26AS data the scope of enquiry should be limited to verification of these particular aspects only. The Assessing Officer shall confine the questionnaire and subsequent enquiry or verification only to the specific point(s) on the basis of which the particular return has been selected for scrutiny.

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CBDT Orders On Constitution And Jurisdiction Of DRP

The CBDT has issued Order Nos. 5 and 6/FT&TR/2014 dated 26.09.2014 on the jurisdiction of the Dispute Resolution Panel at Delhi &Bangalore. The CBDT has also issued Order Nos. 7 to 9/FT&TR/2014 dated 26.09.2014 on the Constitution of the DRP at Delhi, Bangalore and Mumbai respectively

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Income-tax Dept To Be Administered ‘Swachhta Shapath’ (‘Oath Of Cleanliness’)

The CBDT has issued an Office memorandum dated 25.09.2014 drawing attention to the call of the Prime Minister for “Swachh Bharat” mass movement on 2nd October 2014. The OM directs that arrangements have to be made to administer ‘Swachhta Shapath’ to all officers and staff members of the Income-tax department. It is also directed that a detailed action plan should be drawn up to create awareness and promote cleanliness through various creative and innovative activities. All personnel have been directed to clean up their desks and office space, including weeding out of old and obsolete files and records before the appointed day.

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Finance Ministry Seeks Applications For Vacant Posts Of Ombudsman (Sept 2014)

The Ministry of Finance has vide letter dated 22.09.2014 read with corrigendum dated 25.09.2014 invited applications for appointment to the post of “Income Tax Ombudsman”. There are posts of “Income Tax Ombudsman” at various stations such as New Delhi, Bangalore and Pune and some of the posts will fall vacant during the period 1.10.2014 to 31.3.2015. The post of “Income Tax Ombudsman” carries a pay scale of Rs.75500-80000. Interested candidates are requested to forward their application by 31.10.2014 indicating their preferred location.

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CBDT Orders On Transfers And Postings + DRP Constitution

The following orders of the CBDT are available: (i) Order No. 172 of 2014 dated 23.09.2014 regarding postings of officers promoted to grade of Asst. CITs;(ii) Order No. 165 of 2014 dated 16.09.2014 regarding transfer/ posting of officers in the grade of CIT/ DIT;(iii) Order No. 163 of 2014 dated 15.09.2014 regarding transfer/ posting of officers in the grade of CIT/ DIT;(iv) Order No. 157 of 2014 dated 09.09.2014 regarding transfer/ posting of officers in the grade of Asst. / Dy. CsIT of International Taxation/ Transfer Pricing Directorates;(v) Order No. 4/FT&TR/2014 dated 22.09.2014 regarding Constitution of the DRP at Kolkata;(vi) Order No. 3/FT&TR/2014 dated 17.09.2014 regarding Constitution of the DRP at Bangalore.

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E-Book By ICAI On Companies Act 2013 And Rules

The E-Book runs into 575 pages. It contains all the sections and schedules of the Companies Act 2013 as well as the Rules notified so far. The Forms for the Rules have also been given. For easy reference, a Table has been included which contains provisions of Companies Act 2013 as notified up to date. Further, a Table has been provided which shows Chapter-wise Sections of the Act which are not yet notified as well as the Rules for the Chapters which are notified/not notified. The amendments made so far by the MCA in the Schedules and Rules have been incorporated in their respective places

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CBDT Issues Handbook To Explain How TDS Is Processed By CPC

The CBDT has issued a handbook to explain the manner in which the Central Processing Cell (CPC) functions while processing TDS matters. The handbook explains the enormity of the task involved and how efficiently the same is managed by the CPC. It is stated that the CPC has more than 700 crore transactional data in its database and that it can process more than 1 crore deductee records in 24 hours at its state-of-the-art data centers at Noida and Pune. There are several other fascinating facts and figures provided to enable taxpayers to appreciate the work done by the CPC.

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ICAI Takes Stern View Of Strictures Passed By ITAT On CA Profession

In response to the said order, the Council of the ICAI has issued a statement that the comments made by the ITAT on the profession and functions of the ICAI are not warranted. It is also stated that the “sweeping observations” made by ITAT about the Institute and the profession of Chartered Accountancy in a matter relating to a particular tax payer, are out of context

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