Latest Expert Exchange Queries

Make 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) | 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: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: VAT RATES :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT Audit
 
 
Direct Tax »
 CBDT clarification on Ind-AS makes tax calculation harder for companies
 I-T department to share companies' tax info with corporate ministry
 CBDT comes out with clarification on MAT for Ind AS companies
 No penalty for late ITR this year but here are 4 important reasons to file it in time
 12% growth in income tax collection
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation

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