SERVICE TAX E-FILING DATE EXTENDED TO 26.12.2011

SERVICE TAX E-FILING DATE EXTENDED TO 26.12.2011 FOR THE PERIOD APRIL-SEPT.2011

 

 

F. No. 137/99/2011 – Service Tax Government of India Ministry of Finance Department of Revenue

Central Board of Excise and Customs

***

New Delhi dated the    20th October 2011

 

 

 

ORDER NO. 1 /2011 – Service Tax

 

 

 

In exercise of the powers conferred by Rule 7(4) of the Service Tax

 

Rules  1994  read  with  notification  No.  48/2011-Service  Tax  dated  19th October  2011,  Central  Board  of  Excise  and  Customs  hereby  extends  the date  of  submission  of  half  yearly  return  for  the  period  April  2011  to September 2011 from 25th October 2011 to 26th  December 2011.

 

 

This is being done in view of the fact that the e-filing of service tax returns for all class of service tax assesses has been made mandatory for the first time vide notification no. 43/2011- Service Tax  dated  25.8.11, as such leaving less time for the trade to adjust to the requirement of e-filing.

 

 

 

 

 

Director (Service Tax) CBEC, New Delhi

 

Copy to:

 

Chief Commissioners of Central Excise & Customs (All) Chief Commissioners of Central Excise (All)

Director General of Service Tax

Commissioners of Service Tax (All)

Commissioners of Central Excise and Service Tax

Commissioners of Central; Excise, Customs & Service Tax

S.T.DATE EXTENDED TO 26.12.2011

F. No. 137/99/2011 – Service Tax Government of India Ministry of Finance Department of Revenue

Central Board of Excise and Customs

***

New Delhi dated the    20th October 2011

 

 

 

ORDER NO. 1 /2011 – Service Tax

 

 

 

In exercise of the powers conferred by Rule 7(4) of the Service Tax

 

Rules  1994  read  with  notification  No.  48/2011-Service  Tax  dated  19th October  2011,  Central  Board  of  Excise  and  Customs  hereby  extends  the date  of  submission  of  half  yearly  return  for  the  period  April  2011  to September 2011 from 25th October 2011 to 26th  December 2011.

 

 

This is being done in view of the fact that the e-filing of service tax returns for all class of service tax assesses has been made mandatory for the first time vide notification no. 43/2011- Service Tax  dated  25.8.11, as such leaving less time for the trade to adjust to the requirement of e-filing.

 

 

 

 

 

Director (Service Tax) CBEC, New Delhi

 

Copy to:

 

Chief Commissioners of Central Excise & Customs (All) Chief Commissioners of Central Excise (All)

Director General of Service Tax

Commissioners of Service Tax (All)

Commissioners of Central Excise and Service Tax

Commissioners of Central; Excise, Customs & Service Tax

Form 26AS – Check tax credits before filing IT return and Rectification of Errors and Omissions

Form 26AS – Check tax credits before filing IT return and Rectification of Errors and Omissions

Taxpayers are advised to verify the tax credits available in 26AS statement before filing the Income Tax Return. It will facilitate faster processing and quick refunds. In order to avoid the TDS mismatch i.e if your claim of TDS is higher than the tax credits available in 26AS statement, please contact the Deductor for filing of the correction TDS statement.

Income Tax Department facilitates a PAN holder to view its Tax Credit Statement (Form 26AS) online. Form 26AS contains

• Details of tax deducted on behalf of the taxpayer by deductors
• Details of tax collected on behalf of the taxpayer by collectors
• Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
• Details of paid refund received during the financial year
• Details of the High value Transactions in respect of shares, mutual fund etc.

The Tax Credit Statement (Form 26AS) are generated wherein valid PAN has been reported in the TDS statements.
Tax Credits Statement (Form 26AS) can be viewed/accessed through 3 ways :

1. View Tax Credit from https://incometaxindiaefiling.gov.in

Taxpayers who are registered at the above potal viz. https://incometaxindiaefiling.gov.in can view 26AS by clicking on 'View Tax Credit Statement (From 26AS)' in "My Account". The facility is available free of cost.

For "New Registration", Click on 'Register' on the portal. The registration process is user-friendly and takes minimal time. View Demo

2. View Tax Credit (Form 26AS) from bank site through net banking facility

The facility is available to a PAN holder having net banking account with any of authorized banks. View of Tax Credit Statement (Form 26AS) is available only if the PAN is mapped to that particular account. The facility is available for free of cost. View Demo

List of banks registered with NSDL for providing view of Tax Credit Statement (Form 26AS) are as below

1. Axis Bank Limited
2. Bank of India
3. Bank of Maharashtra
4. Citibank N.A.
5. Corporation Bank
6. ICICI Bank Limited
7. IDBI Bank Limited
8. Indian Overseas Bank
9. Indian Bank
10. Kotak Mahindra Bank Limited
11. Oriental Bank of Commerce
12. State Bank of India
13. State Bank of Mysore
14. State Bank of Travancore
15. The Federal Bank Limited
16. UCO Bank
17. Union Bank of India
18. Bank of Baroda
19. Karnataka Bank
20. The Saraswat Co-operative Bank Limited
21. City Union Bank Limited
22. State Bank of Patiala

3. View Tax Credit (Form 26AS) from TIN website

The facility is available to PANs that are registered with Tax Information Network for view of 26AS statement. The PAN holder has to fill up an online Registration form for such purpose. Thereafter, verification of PAN holder's identity is done by the TIN-Facilitation Centre personnel either at PAN holder's address or at the TIN-facilitation center that has been chosen by the PAN holder. The verification involves a cost at prescribed rates. Once authorised, the PAN holder can view Tax Credit Statement online.

 

http://taxguru.in/income-tax/check-tax-credits-26as-statement-filing-return-faster-processing-quick-refunds.html

e- TDS return – How to make correction or Revision in TDS Payment challan Details?

 

e- TDS return – How to make correction or Revision in TDS Payment challan Details?

 

Can I update a challan?

Yes. You can update a challan.

How can I update a challan?

You can update any of the details provided in the challan viz; CIN details, amounts etc.

Points to be kept in mind while updating challan:

• identify the challan to be updated by
• its sequence no as per regular statement
• CIN, deposit amount as per regular statement
• Update the challan detail as required.
• Along with the updated values, the correction statement should contain value of the CIN and deposit amount as per regular statement as well.

Example: In order to correct challan serial number from 013 to 014 in the sixth challan of the regular statement filed by you, the steps as under need to be followed

1. Identify the challan by the sequence number as well as the CIN and deposit amount as per regular statement.
2. Update the value in the field challan serial number to 014.
3. Ensure that the value in the field Last Bank challan no is 013, i.e. as per regular statement.

Can I add a challan?

Yes. You can add a challan.

How can I add a challan?

You can add a new challan as well as the underlying deductee records. The procedure for adding a challan is as under:

1. Maintain the sequence of the new challan record in continuation to the sequence number of the last challan as per regular statement and add details of challan in this record.
2. Add the underlying deductee records and associate the same with the sequence number of the newly added challan.

Example: If a regular statement filed by you has six challans and you wish to add one more challan and underlying five deductees, the steps as under need to be followed:

1. Sequence of new challan being added should be 7.
2. Add underlying five deductees in the deductee annexure and associate them with new challan having sequence no. 7.

Can I delete a challan?

No. You cannot delete a challan.

 

http://taxguru.in/income-tax/tds-return-correction-revision-tds-payment-challan-details.html

Criteria-Guidelines for IT Scrutiny for AY 2010-11-FY 2009-2010

Criteria-Guidelines for IT Scrutiny for AY 2010-11-FY 2009-2010

Guidelines for selection of cases for Scrutiny During 2010-11

1. Selection of cases for scrutiny during the financial year 2010-11 will be done primarily through CASS this year. Manual Selection for scrutiny this year will be limited only to a few cases listed below.

2. List of cases selected during each month in accordance with selection criteria mentioned below shall be submitted by the Assessing officers to their respective Range heads by the 15th of the following month and also displayed on the notice Board of their offices .

3. These guidelines are meant only for the use of officers of the Income Tax Department .These are not to be disclosed even if a request is made under Right to Information Act, In view of the decision of the Central Information Commission in the case of Shri Kamal Vs Director (ITA-II), CBDT (order no CIC/AT/2007/00617 dated 21.02.2008)


Selection criteria Applicable to all return at all stations

a) Value of International transaction as defined in 92B exceeds 15 Crore.

b) Cases involving addition in an earlier assessment year in excess of Rs 10 lacs on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before on appellate authority.

c) Cases involving addition in an earlier assessment year on the issue of transfer pricing in excess of Rs 10 Lakh or more.

d) Assessment in survey cases for the financial year in which survey was carried out.

• This criteria will not apply if all of the following conditions are fulfilled:
1. There are no impounded books or documents.
2. There is no retraction of disclosure, if any, made during the survey.
3. Declared income, excluding any disclosure made during the survey, is not less than the declared income of the preceding year.

e) Assessment in search & Seizure cases to be made under section 158B, 158BC,158BD, 153A, 153C & 143(3) of the IT Act.

f) Assessment Initiated under section 147/148 of the IT Act. g) Assessing officer may select any return for scrutiny after recording he reason and obtaining approval of the CCIT/DGIT. The cases under this category should be selected if, there are compelling reasons and the case is not selected through CASS. These cases
should be watched by CCIT/CIT in respect of the quality of assessment.(F.NO.225/93/2009/ITA.II)

Read more: http://www.itaxindia.org/2011/09/criteria-guidelines-for-it-scrutiny-for.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpleTaxIndia+%28SIMPLE+TAX+INDIA%29

E FILING MANDATORY WITH DIGITAL SIGNATURE INDIVIDUAL HUF FIRM 44AB AUDIT CASES

Now ITR e Filing with digital signature is mandatory for Individual,HUF and Firms also to whom Audit provision u/s 44AB is applicable.Income tax department has issued a notification 37/2011 dated 01.07.2011in this regard. After issuance of Notification Individual /Hindu undivided family assessees (covered under audit section 44AB)have to file ITR-4 and Firms (covered under audit section 44AB) have to file ITR-5  with digital signature.Companies are already directed to file returns through digital signature only.

Earlier(notification 49/2010) It was optional  for firms,individuals ,HUF  (covered under audit section 44AB) to file return through e filing mode with or without digital signature.

INCOME-TAX (SIXTH AMENDMENT) RULES, 2011 - AMENDMENT IN RULE 12

NOTIFICATION NO. 37/2011 [F. NO. 149/68/2011-SO (TPL)], DATED 1-7-2011


Read more: http://www.simpletaxindia.org/2011/07/itr-e-filing-digital-signature.html

 

 

exemption from filing I-T return for persons with income up to Rs 5 lakh

No.402/92/2006-MC (14 of 2011)

Government of India / Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

***

New Delhi, dated the 23

rd June, 2011

PRESS RELEASE

The Central Board of Direct Taxes has notified the scheme exempting salaried

taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year

2011-12, which will be due on July 31, 2011.

Individuals having total income up to Rs.5,00,000 for FY 2010-11, after allowable

deductions, consisting of salary from a single employer and interest income from deposits in

a saving bank account up to Rs.10,000 are not required to file their income tax return. Such

individuals must report their Permanent Account Number (PAN) and the entire income from

bank interest to their employer, pay the entire tax by way of deduction of tax at source, and

obtain a certificate of tax deduction in Form No.16.

Persons receiving salary from more than one employer, having income from sources

other than salary and interest income from a savings bank account, or having refund claims

shall not be covered under the scheme.

The scheme shall also not be applicable in cases wherein notices are issued for filing

the income tax return under section 142(1) or section 148 or section 153A or section 153C of

the Income Tax Act 1961.

**

source : http://www.incometaxindia.gov.in/home.asp

Form 16A downloaded from TIN -mandated

Corporates and banks mandated to issue Form 16A downloaded from TIN central system

--------------------------------------------------------------------------------------------------------------------------------

CBDT has issued a Circular No. 03/2011 dated May 13, 2011as per which TDS Certificates in Form No. 16A will be generated from Tax Information Network (TIN). It is mandatory for Companies and Banks to issue Form 16A from TIN to their deductees for deductions made from April 1, 2011 (F.Y. 2011-12 onwards). Taxpayers are advised to insist on Form 16A (quarterly TDS certificate) that has been downloaded by the Deductors from TIN Central System only.

 

 

Source : http://www.incometaxindia.gov.in/home.asp

 

Spell Rupees in Excel Sheet

Just copy and paste the below function in excel. Press Alt+F11, and paste the below function Option Explicit 'Main Function Function SpellNumber(ByVal MyNumber) Dim Rupees, Paise, Temp Dim DecimalPlace, Count ReDim Place(9) As String Place(2) = " Thousand " Place(3) = " Million " Place(4) = " Billion " Place(5) = " Trillion " ' String representation of amount. MyNumber = Trim(Str(MyNumber)) ' Position of decimal place 0 if none. DecimalPlace = InStr(MyNumber, ".") ' Convert paise and set MyNumber to Rupee amount. If DecimalPlace > 0 Then Paise = GetTens(Left(Mid(MyNumber, DecimalPlace + 1) & _ "00", 2)) MyNumber = Trim(Left(MyNumber, DecimalPlace - 1)) End If Count = 1 Do While MyNumber <> "" Temp = GetHundreds(Right(MyNumber, 3)) If Temp <> "" Then Rupees = Temp & Place(Count) & Rupees If Len(MyNumber) > 3 Then MyNumber = Left(MyNumber, Len(MyNumber) - 3) Else MyNumber = "" End If Count = Count + 1 Loop Select Case Rupees Case "" Rupees = "Zero Rupees" Case "One" Rupees = "One Rupee" Case Else Rupees = Rupees & " Rupees" End Select Select Case Paise Case "" Paise = " and Zero Paise" Case "One" Paise = " and One Paise" Case Else Paise = " and " & Paise & " Paise" End Select SpellNumber = Rupees & Paise End Function ' Converts a number from 100-999 into text Function GetHundreds(ByVal MyNumber) Dim Result As String If Val(MyNumber) = 0 Then Exit Function MyNumber = Right("000" & MyNumber, 3) ' Convert the hundreds place. If Mid(MyNumber, 1, 1) <> "0" Then Result = GetDigit(Mid(MyNumber, 1, 1)) & " Hundred " End If ' Convert the tens and ones place. If Mid(MyNumber, 2, 1) <> "0" Then Result = Result & GetTens(Mid(MyNumber, 2)) Else Result = Result & GetDigit(Mid(MyNumber, 3)) End If GetHundreds = Result End Function ' Converts a number from 10 to 99 into text. Function GetTens(TensText) Dim Result As String Result = "" ' Null out the temporary function value. If Val(Left(TensText, 1)) = 1 Then ' If value between 10-19... Select Case Val(TensText) Case 10: Result = "Ten" Case 11: Result = "Eleven" Case 12: Result = "Twelve" Case 13: Result = "Thirteen" Case 14: Result = "Fourteen" Case 15: Result = "Fifteen" Case 16: Result = "Sixteen" Case 17: Result = "Seventeen" Case 18: Result = "Eighteen" Case 19: Result = "Nineteen" Case Else End Select Else ' If value between 20-99... Select Case Val(Left(TensText, 1)) Case 2: Result = "Twenty " Case 3: Result = "Thirty " Case 4: Result = "Forty " Case 5: Result = "Fifty " Case 6: Result = "Sixty " Case 7: Result = "Seventy " Case 8: Result = "Eighty " Case 9: Result = "Ninety " Case Else End Select Result = Result & GetDigit _ (Right(TensText, 1)) ' Retrieve ones place. End If GetTens = Result End Function ' Converts a number from 1 to 9 into text. Function GetDigit(Digit) Select Case Val(Digit) Case 1: GetDigit = "One" Case 2: GetDigit = "Two" Case 3: GetDigit = "Three" Case 4: GetDigit = "Four" Case 5: GetDigit = "Five" Case 6: GetDigit = "Six" Case 7: GetDigit = "Seven" Case 8: GetDigit = "Eight" Case 9: GetDigit = "Nine" Case Else: GetDigit = "" End Select End Function PRESS ALT+Q to save and then exit.

Rounding Off Of Service Tax

Cir. 53/2/2003-ST, 27/3/2003

Sub: Rounding of Service Tax to the multiples of a Rupee

Instances have come to the notice of Board with regard to difficulties " being faced by the Field Formations/Service Providers in collecting/paying the service tax in amounts less than a rupee or in multiple thereof.

Attention is invited to the provisions of Section 37 -D of the Central Excise Act, 1944 which has been made applicable to Service Tax Law by virtue of Section 83 of Finance Act, 1994 (as amended), provide that the amount of service tax, interest, penalty, fine or any other sum payable and the amount of refund or any other sum due, under the provisions shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be I increased to one rupee and if such part is less than fifty paise it shall be ignored.

under section 80DDB-(Rule 11DD) Specified diseases and ailments for the purpose of deduction

Specified diseases and ailments for the purpose of deduction under section 80DDB.

11DD. (1) For the purposes of section 80DDB, the following shall be the eligible diseases or ailments :

(i) Neurological Diseases where the disability level has been certified to be of 40% and above,—

(a) Dementia ;

(b) Dystonia Musculorum Deformans ;

(c) Motor Neuron Disease ;

(d) Ataxia ;

(e) Chorea ;

(f) Hemiballismus ;

(g) Aphasia ;

(h) Parkinsons Disease ;

(ii) Malignant Cancers ;

(iii) Full Blown Acquired Immuno-Deficiency Syndrome (AIDS) ;

(iv) Chronic Renal failure ;

(v) Hematological disorders :

(i) Hemophilia ;

(ii) Thalassaemia.

(2) The certificate in respect of the diseases or ailments specified in sub-rule (1) shall be issued by the following specialists working in a Government hospital—

(a) for diseases or ailments mentioned in clause (i) of sub-rule (1) - a Neurologist having a Doctorate of Medicine (D.M.) degree in Neurology or any equivalent degree, which is recognised by the Medical Council of India;

(b) for diseases or ailments mentioned in clause (ii) of sub-rule (1) - an Oncologist having a Doctorate of Medicine (D.M.) degree in Oncology or any equivalent degree which is recognised by the Medical Council of India;

(c) for diseases or ailments mentioned in clause (iv) of sub-rule (1) - a Nephrologist having a Doctorate of Medicine (D.M.) degree in Nephrology or a Urologist having a Master of Chirurgiae (M.Ch.) degree in Urology or any equivalent degree, which is recognised by the Medical Council of India;

(d) for diseases or ailments mentioned in clause (v) of sub-rule (1) - a specialist having a Doctorate of Medicine (D.M.) degree in Hematology or any equivalent degree, which is recognised by the Medical Council of India :

Provided that where in respect of any diseases or ailments specified in sub-rule (1), no specialist has been specified or where the specialist specified is not posted in the Government hospital in which the patient is receiving the treatment, such certificate, with prior approval of the Head of that hospital, may be issued by any other specialist working full-time in that hospital and having a post-graduate degree in General or Internal Medicine, which is recognised by the Medical Council of India.

(3) The certificate from the prescribed authority to be furnished along with the return of income shall be in Form No. 10-I.]