Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: empanelment :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India
 
 
News Headlines »
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter

Over 60,000 corporate tax returns e-filed
November, 18th 2006
Further extension of due date unlikely

The income-tax department has, till date, received little over 60,000 corporate returns through the electronic filing route. This represents a 65 per cent increase to the number of returns that had been received as at end-October this year.

For assessment year 2006-07, companies are necessarily required to furnish their returns electronically to the income-tax department.

No extension

Till end-October, the tax department had received 36,262 corporate returns through the electronic filing route. A Central Board of Direct Taxes (CBDT) spokesperson said that the tax department expected the flow of returns to gather momentum during the last week of this month. The due date for filing of corporate returns was earlier extended to November 30.

Indications are that this time round the department would not go in for any further extension of the due date.

Meanwhile, the Finance Ministry may in the coming days allow e-filing of the accountant's report (certification of the transfer pricing method adopted to support the arm's length price) that is required to be filed by certain assessees along with their corporate returns.

Although the corporates are required to electronically file their returns, tax experts point out the accountants' report (for transfer pricing) has to be physically handed over to the assessing officer. They say that currently there is no provision in the e-filing software for taking care of the accountant's report (for transfer pricing).

As on October 31, 2005, the income-tax department had received 2,13,000 returns from corporates (paper returns). In all about 3.76 lakh corporate returns were filed up to March 31, 2006.

Indications are that this time round the department would not go in for any further extension of the due date.

Meanwhile, the Finance Ministry may in the coming days allow e-filing of the accountant's report (certification of the transfer pricing method adopted to support the arm's length price) that is required to be filed by certain assessees along with their corporate returns.

Although the corporates are required to electronically file their returns, tax experts point out the accountants' report (for transfer pricing) has to be physically handed over to the assessing officer. They say that currently there is no provision in the e-filing software for taking care of the accountant's report (for transfer pricing).

As on October 31, 2005, the income-tax department had received 2,13,000 returns from corporates (paper returns). In all about 3.76 lakh corporate returns were filed up to March 31, 2006.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions