Monthly Archives: September 2015

Fake Order for extension of Tax Audit due date for AY2015-16

CBDT has clarified on the order which was recently circulated on social media about extension of due date for the tax audit assessee. It has been brought to the notice of the Government that a fake order dated 26th September 2015 supposedly under section 119 of the Income tax Act 1961 under the signature of… Read More »

Filing of Quarterly TDS/TCS Statements

The due date for filing Quarterly TDS/TCS statement for Q2 of FY 2015-16 is fast approaching. Do submit your quarterly TDS/TCS returns on or before due dates (as mentioned below) to avoid late filing fee under section 234E of Income Tax Act. Period Due Date for Government Deductors/Collectors Due Date for Other Deductors/Collectors Quarter 2… Read More »

Retirement Benefits and Income Tax Liability

Now days the practice of taking voluntary retirement is very common. At the time of VRS or retirement, an employee usually receives significantly huge sum of money as retirement benefits. Such benefits are taxable under the head ‘Salaries’ as ‘profits in lieu of Salaries’ as provided in section 17(3), thus it attracts more tax liability.… Read More »

Extension of due date for ITR for AY 2015-16 for all the taxpayers

F.No.225J154J2015JITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes For Assessment Year 2015-2016, vide even number order dated 10th June, 2015, the Central Board of Direct Taxes (‘CBDT’) had extended the ‘due-date’ for filing Income-tax returns till 31st August, 2015 in cases of those taxpayers who were required to… Read More »

Extension of ITR due date for AY 2015-16 for State of Gujarat.

CBDT vide order F.No. 225/154/2015/ITA.II u/s 119 dated 31/08/2015 has extended the ‘due date’ for submission of Returns of Income from 31/08/2015 to 07/09/2015 in the case of income tax assessees in the State of “Gujarat” who are liable to file their Income tax returns by 31/08/2015.