Now firms can file ITR-4S for presumptive income; CBDT notifies new ITR forms for AY 2016-17 // MONARCH // SUNIL RAJAI

Now firms can file ITR-4S for presumptive income; CBDT notifies new ITR forms for AY 2016-17

INCOME-TAX (NINTH AMENDMENT) RULES, 2016 - AMENDMENT IN RULE 12 AND SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-2A, ITR-3, SUGAM (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 AND ITR-V

NOTIFICATION NO. SO 1262(E) [NO.24/2016 (F.NO.370142/2/2016-TPL)], DATED 30-3-2016

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (9th Amendment) Rules, 2016.

(2) They shall come into force with effect from the 1st day of April, 2016.

2. In the Income-tax rules, 1962,—

(1) in rule 12,—

(a)

in sub-rule (1),—

(A)		after the word, brackets, figure and letter "sub-section (4E)", the words, brackets, figure and letter "or sub-section (4F)" shall be inserted;
(B)		for the figures "2015", the figures "2016" shall be substituted;
(C)		in clause (ca), after the words "Hindu undivided family", the words "or a firm, other than a limited liability partnership firm," shall be inserted;
(D)		in clause (g), after the word, brackets, figure and letter "sub-section (4E)", the words, brackets, figure and letter "or sub-section (4F)" shall be inserted;

(b)

in sub-rule (5), for the figures "2014", the figures "2015" shall be substituted.

(2) in Appendix-II, for "Forms Sahaj (ITR-1), ITR-2, ITR-2A, ITR-3, Sugam (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 and ITR-V", the following forms shall respectively be substituted, namely:—

Forms Sahaj (ITR-1)

ITR-2

ITR-2A

ITR-3

Sugam (ITR-4S)

ITR-4

ITR-5

ITR-6

ITR-7

ITR-V

RPU AND FVU VERSION CHANGE FOR Quarter 4 of FY 2015-2016 (January to March)

RPU AND FVU VERSION CHANGE FOR Quarter 4 of FY 2015-2016 (January to March) // MONARCH // SUNIL RAJAI
 

Subject: Filing of Quarterly TDS/TCS Statements

Dear Deductor/Collector,

 

This is to inform you that due date for filing Quarterly TDS/TCS statement for Q4 of FY 2015-16 is as per table below. Do submit quarterly TDS/TCS statement on or before due date to avoid late filing fee under section 234E of Income Tax Act.

Period	Due Date for all the categories of Deductors/Collectors
Quarter 4 of FY 2015-16 (January to March)	15th May 2016

 

New versions of e-TDS/TCS Return Preparation Utility (RPU) and File Validation Utility (FVU) will be available at TIN website from April 8, 2016 at the following URL https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php. These utilities are free for download.  

·         RPU Version 1.5 (Java based): This is used for preparing and validating e-TDS/TCS statement and also contains inbuilt FVU.

·         FVU Version 5.0: Applicable for quarterly e-TDS/TCS Statement(s) pertaining to FY 2010-11 onwards

·         FVU Version 2.146: Applicable for quarterly e-TDS/TCS Statement(s) from FY 2007-08 upto FY 2009-10

 

Key features of new version of RPU and FVU are as given below:-

a.         Remark “B” will be applicable for Section code 192A under deductee details (Annexure I) for Regular and Correction statements of Form 26Q. 

 

b.        It is mandatory to mention email ID (one of email IDs, i.e. either of Deductor/Collector or of Responsible person) and mobile number of the responsible person in TDS/TCS Statement.

 

c.         Incorporation of TAN and TAN name in the Challan Status Inquiry (CSI) file and verification of the same during the process of validation through FVU.

Ø  TAN: In case the TAN of the Deductor / Collector as per CSI file does not match TAN of the Deductor /Collector as per the TDS/TCS statement, FVU will reject the CSI file and appropriate error message (TAN of deductor in statement does not match the TAN in CSI file) will be displayed to the user on validating the file through FVU.

Ø  TAN Name: In case the TAN Name (Name of Deductor/Collector) as per CSI file does not match with the name as per the TDS/TCS statement, FVU will generate a warning file regarding mismatch with the message “Name of deductor in the statement should exactly match the Name of deductor as per TAN Master Database of ITD.”

d.        Incorporation of new Section Code 194IA (i.e. TDS on sale of property) under the list of Section codes available for Form 26Q. This Section code will be applicable for Regular and Correction statements (C3) pertaining to FY 2013-14 onwards.

 

e.         Facility to import excel file in the RPU based on Challan Details, Annexure I (Deductee/Collectee details) and Annexure II (Salary details). Similarly, Print option is also enabled.

 

f.          Facility to view filing procedures and contact details of TIN Call Center is made available in RPU.

 

For and on behalf of Tax Information Network

Monarch's e-TAX: First App in Google By Sunil Rajai Monarch Group.

Monarch's e-TAX

Monarch's e-TAX : First App in Google By Sunil Rajai Monarch Group. 

Information About APK:  Monarch's e-TAX Android Application is for Exclusive Taxation Application for Consultants who can use and Update knowledge of yourself with latest Accounting Year and with Budget amendment and Many Other Facility, Knowledge Test for Amended Current Scenario. Also a Tax Calculator with Full Function Facility for all Status.

DOWNLOAD : https://play.google.com/store/apps/details?id=org.example.iTax

What's New Updates:

1.1.2

- Forgot Password Recovery.

- Bugs Fixed.

 

1.1.1

- IT Exemption For Year 2016-17 Is Added.

- More Knowledge Test You Will Have Now.

- Resolved Issues of Previous Version.

 

 

એપ્રિલના પ્રથમ સપ્તાહમાં નાણા મંત્રાલય એસેસમેન્ટ યર (આકારણી વર્ષ) 2016-17

એપ્રિલના પ્રથમ સપ્તાહમાં નાણા મંત્રાલય એસેસમેન્ટ યર (આકારણી વર્ષ) 2016-17

એપ્રિલના પ્રથમ સપ્તાહમાં નાણા મંત્રાલય એસેસમેન્ટ યર (આકારણી વર્ષ) 2016-17 માટે આઈટીઆર ફોર્મ જાહેર કરશે. આ ફોર્મ ગત વર્ષ જેવા જ હશે. લોકોને આઈટી ફાઈલ કરતી વખતે ઓછામાં...

નવી દિલ્હીઃ એપ્રિલના પ્રથમ સપ્તાહમાં નાણા મંત્રાલય એસેસમેન્ટ યર (આકારણી વર્ષ) 2016-17 માટે આઈટીઆર ફોર્મ જાહેર કરશે. આ ફોર્મ ગત વર્ષ જેવા જ હશે. લોકોને આઈટી ફાઈલ કરતી વખતે ઓછામાં ઓછી મુશ્કેલી પડે તે માટે આઈટી ડિપાર્ટમેન્ટ આઈટીઆર ફોર્મને સતત સરળ બનાવી રહ્યુ છે. હાલ 93 ટકા ટેક્સપેયર્સ ઓનલાઈન ઈન્કમ ટેક્સ રિટર્ન ફાઈલ કરે છે.

સરળ હશે આઈટીઆર ફોર્મ

ડિપાર્ટમેન્ટના સૂત્રોના જણાવ્યા મુજબ, આઈટીઆર ફોર્મ થોડાં સરળ કરવા પર વિભાગ કામ કરી રહ્યું છે. નવા સરળ ફોર્મ આવતા વર્ષે જાહેર કરાશે. હાલ ડિપાર્ટમેન્ટ ગત વર્ષે જાહેર થયેલાં ફોર્મને જ એપ્રિલના પ્રથમ સપ્તાહમાં જાહેર કરશે.

કેપિટલ ગેન ટેક્સની ગણતરી માટે આવશે નવી ફોર્મુલા:

સૂત્રોના જણાવ્યા મુજબ, પ્રોપર્ટી વેચવા પર લાગતા કેપિટલ ગેન ટેક્સની ગણતરી કરવા માટે નવી રિવાઈઝ્ડ ફોર્મૂલા લાવવામાં આવશે. તેનાથી ટેક્સપેયરને કોઈની મદદ વગર ટેક્સ ગણતરીમાં સરળતા પડશે. આઈટી ડિપાર્ટમેન્ટ તેના પર ઘણા સમયથી કામ કરી રહ્યું છે. આ ફોર્મુલા પણ આવતા વર્ષે લાગુ થશે.

જૂન 2015માં જાહેર થયું હતું સરળ આઈટીઆર ફોર્મ: આ પહેલાં જૂન 2015માં આઈટી ડિપાર્ટમેન્ટે સેલરી ક્લાસ માટે આઈટીઆર ફોર્મ જાહેર કર્યું હતું. આ ફોર્મમાં ટેક્સપેયરને તેમની કુલ સેવિંગ અને કરન્ટ બેન્ક એકાઉન્ટની જાણકારી આપવી પડતી હતી. આ ફોર્મમાં બેન્કના IFSC કોડ ભરવાની સુવિધાની સાથે આધાર નંબરની જાણકારી પણ સબમિટ કરવી પડતી હતી.

The Company e-Forms have been revised on MCA portal effective 27th March 2016

The Company e-Forms have been revised on MCA portal effective 27th March 2016.

You are advised to download the latest version of forms from ‘Company Forms Download’ page on the MCA portal. The previous version of Company e-forms will not be compatible with the new MCA21 portal. The existing Company Forms have been revised.

1. The following eForm will not be available in the new MCA21 portal temporarily. CRA-4 and Refund forms are expected to be made available by 11th April 2016 and 25th April, respectively. The timelines for 23 C, 23 D, I-XBRL and A-XBRL will be confirmed subsequently.

a. CRA 4 – Form for filing Cost Audit Report with the Central Government.

b. 23 C – Form of application to the Central Government for appointment of cost auditor.

c. 23 D – Information by cost auditor to Central Government

d. I-XBRL – Form for filing XBRL document in respect of cost audit report and other documents with the Central Government

e. A-XBRL – Form for filing XBRL document in respect of compliance report and other documents with the Central Government

f. Refund – Application for requesting refund of fees paid.

2. The following new e-forms will come into effect immediately :

a. CHG-8 (previously attachment)

b. INC-12 (previously attachment)

c. Investor Complaint eform

d. Serious Complaint eform

3. The following new e-forms will come into effect from the date of notification (to be notified later):

a. IEPF-1 – Statement of amounts credited to Investor Education and Protection Fund

b. IEPF-2 – Statement of unclaimed or unpaid amounts

c. IEPF-3 – Statement of shares and unclaimed or unpaid dividend not transferred to the Investor Education and Protection Fund

d. IEPF-4 – Statement of shares transferred to the Investor Education and Protection Fund

e. IEPF-5 – Application to the Authority for an order for payment of dividend etc. out of the Fund

f. IEPF-6 – Statement of shares and unclaimed or unpaid amounts to be transferred to the Investor Education and Protection Fund

4. The following eForms should be filed as attachments with GNL-2 from the date of notification (to be notified later):

a. 23 AC – Form for filing balance sheet and other documents with the Registrar

b. 23 AC- XBRL – Form for filing XBRL document in respect of balance sheet and other documents with the Registrar

c. 23 ACA – Form for filing Profit and Loss account and other documents with the Register

d. 23 ACA-XBRL – Form for filing XBRL document in respect of Profit and Loss account and other documents with the Registrar

e. 20B – Form for filing annual return by a company having a share capital with the Registrar

f. Form 66 (Until FY 2014) – Form for submission of compliance certificate with the Registrar

g. 21 A – Particulars of annual return for the company not having share capital

h. 23 B – Information to the Registrar by company for appointment of auditor

5. Kindly note a new Service ‘Upload Details of Security Holders/Debenture Holders/Depositors’ has been introduced for uploading relevant details of Security Holders/Debenture Holders/Depositors for forms MGT-7, PAS-3 and DPT-4 in excel instead of submitting CD to concerned RoC office. These forms will not be approved if details are not uploaded using this service.

6. The following eforms are withdrawn :

a. 1INV – Statement of amounts credited to investor education and protection fund.

b. 5INV – Statement of unclaimed and unpaid amounts.

c. Investor Complaint Form – a new version has been released.

HAPPY HOLI