Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: empanelment :: cpt :: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
« Direct Tax »
 Can we measure demonetisation’s impact on income tax collections?
 CBDT signs 2 more advance pricing pacts
 Income tax returns: How to calculate income from house property
 CBDT proposes new accounting standards for real estate firms
 1 lakh entities face I-T action as ‘clean money’ drive gains pace
 Here are 4 things to know about how CBDT improves ease of doing business by issuing PAN and TAN within 1 day
 Online platforms make tax filing easy, help fill details automatically
 Delhi HC refuses to stay tax case against Young Indian
 CBDT issues draft ICDS on real estate
 CBDT chairman Sushil Chandra gets one-year extensiona
 Income-tax (9th Amendment) Rules, 2017? - Amendment of Income-tax Rules, 1962 - Prescribing form & manner of exercise of option by the domestic company for the purposes of section 115BA of the Income-tax Act, 1961-reg

CAs furious as CBDT refuses to extend deadline
September, 23rd 2015

Chartered accountants are a worried lot. With the Central Board for Direct Taxes refusing to extend the September 30 deadline for filing returns in case of compulsory audit, the Institute of Chartered Accountants of India is seeking relief from the finance ministry.

Manoj Fadnis, president, ICAI, will meet the finance minister to explain the problems caused by CBDT's stand on Tuesday even as efforts are on in various high courts to obtain relief. Sifting through various documents submitted by clients in his office near Bunts Hostel, chartered accountant Raviraj B shows the strain. Assesses required to get their accounts audited use CAs for it. Due to the delay in announcement of ITRs, CAs were busy filing returns of salaried class and small businessmen in August, he said. "Now, assesses are putting pressure on us to give tax audit reports within the reduced time of 23 days," he said. Raviraj told TOI that assesses get six months from the end of the previous financial year to file their return of income as per the Income Tax Act.

Assessees can file the return anytime between April 1 and September 3 of the assessment year. They can file returns only if the IT Return forms as well as schema for e-filing are made available on April 1. The e-filing site has to be enabled to accept such returns. He said assesses whose accounts are required to be compulsorily audited are large taxpayers. They have to get a tax audit report from CAs. CBDT should give such large taxpayers special privileges since they contribute higher taxes to the exchequer. Instead, CBDT issued a press release saying the forms have been notified sufficiently early, giving enough time for compliance. Hence, the due date will not be ex tended, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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