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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.

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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

2013

CIRCULAR NO

4/2013, Dated: April 17, 2013

Sub: Issuance of certificate for tax deducted at source in Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules 1962 — regarding

2013

Failure to deposit timely and correct TDS or TCS will now attract a penalty ranging from Rs 200 to Rs one lakh by the Income Tax department.

All the Tax Deducted at Source (TDS) range offices of the department across the country have been asked by the Central Board of Direct Taxes (CBDT) to ensure compliance in this area and also inform and make aware the authorised deductors about this new action being initiated by the taxman.

Financial Management