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2013

Frequently Asked Questions on e-Filing of Tax Audit Report

(Developed by Direct Taxes Committee of ICAI in consultation with the Officials of Directorate of Income-Tax (Systems)

Note: This document deals with those FAQ’s which are not covered in the e-filing portal. The members may visit the www.incometaxindiaefiling.gov.in for other FAQ’s.

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2013
  1. Incorporation of a One Person Company has been permitted.
  2. Numbers of permissible members in private company has been raised to 200 as against existing limit of 50 members.
  3. Listed companies shall have at least 1/3rd of the total number of directors as Independent Directors and the Central Government may prescribe the minimum number of Independent Directors for any class of public companies.
  4. Nominee director cannot be regarded as Independent Director.
2013

Mandatory e-filing of audit reports

As per Notification No.34/2013 dated 01/05/2013, E-filing of following audit reports shall be mandatory in following cases:

  1. Audit report under Sec. 44AB in respect of books of account;
  2. Audit report under Sec. 92E in respect of international transaction; or
  3. Audit report under Sec. 115JB in respect of MAT computation.

2013

A.   ITR 1 (Sahaj)

 For Individuals with income from :
  • Salary or pension.
  • Rental Income of one house or loss from one house property.

2013

THE GUJARAT VALUE ADDED TAX (AMENDMENT) ACT, 2013

GUJARAT ACT NO. 9 OF 2013

(First published, after having received the assent of the Governor
in the Gujarat Government Gazette Extra.No. 9, on the 30th March, 2013)

AN ACT

further to amend the Gujarat Value Added Tax Act, 2003.

2013

Q 1. What are the modes of filing return of income?

Return of income can be filed in paper mode or in e-filing mode. If return of income is filed through electronic mode, then the assessee has following two options:

  1. E-filing using a Digital Signature
  2. E-filing without a Digital Signature

Financial Management