Friday 11 January 2013

Due dates of submission of ITR-V Extended

CPC of Income Tax has extended the time limit for filing ITR-V forms relating to Income Tax Returns filed electronically (without digital signature Certificate) for A.Y. 2010-11 [Filed during F.Y. 2011-12] and for ITRs of A.Y. 2011-12 [filed on or after 1-4-2011] till 28th February, 2013. In respect of returns filed for A.Y. 2012-13 for which ITR-V forms are yet to be received at CPC and time of 120 days has also elapsed, time limit for filing of ITR-V is extended upto 31st March, 2013 or 120 days from the date of uploading of the electronic return data, whichever is later.
This direction is issued to mitigate the hardship and grievance of the tax payers who have been prevented by reasonable causes to file the ITR-V in time 

amendment in form 18 of mca for incorporation of company

Dear Professional Colleagues,

MCA has amended the form 18 for change of registered office, and this time the onus to check the authenticity of registered office is on practicing Chartered Accountants. 


http://www.mca.gov.in/Ministry/pdf/G.S.R(E)_Form18_24dec2012.pdf


The ministry has amended the Form 18, the standard filing for situation of the registered office or any change thereof. Under the new form, onus has been put on the chartered accountant (CA), cost accountant or company secretary (CS) who verifies the filing to physically check the existence of the company

In addition to the complete address of the registered office and the address of the police station in which the registered office falls, which were the original requirements, companies will now have to produce the proof of address, which is a mandatory requirement under the new form 18.

If the company does not own the premises or has taken it on lease, then it has to produce further documentary evidence. If the registered office premises is owned by one of the directors of the company, then a no-objection certificate from the director is required to be attached. If the premises are owned by any other entity then a proof that the company is permitted to use such an address needs to be submitted, the amended form 18 showed. 

Wednesday 2 January 2013

Guidance Note on Tax Audit u/s 44AB

Download Guidance Note on Tax Audit u/s 44AB of Income Tax Act 1961, issued by Institute of Chartered Accountants of India (ICAI).  

1. Original 2005 Edition 

http://220.227.161.86/21025guide_44AB_dtc.pdf

2. Revised Edition After 2007

http://220.227.161.86/230announ1178.pdf