FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IN EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE FOR THE FINANCIAL YEAR COMMENCING ON OR AFTER 1-4-2011 ONCE AGAIN EXTENDED,THIS TIME UPTO 15-02-2013.

The relevant circular is reproduced here for ready reference :

 

Download (PDF, 128KB)

 

 

EXTENSION OF TIME LIMIT FOR FILING ITR-V FORMS FOR A.Y. 2010-11, A.Y. 2011-12 AND A.Y. 2012-13

NOTIFICATION NO. 1/2013 [F. NO. DIT(S)-III/ITR-V EXTENSION/ 2012-13] UNDER CPR SCHEME 2011, DATED 7-1-2013

In exercise of its powers under clause (ii) of Para 14 read with clause (7) of Para 4 of the ‘Centralized Processing of Returns Scheme, 2011’, issued vide CBDT Notification No. SO 16(E), dated 4-1-2012, the Director General of Income Tax (System) hereby extends 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.

 

Recently, Central Government vide Circular No.167/2 /2013 – ST dated 1st January, 2013 has clarified that the expression ‘foodstuff’ appearing in serial number 20(i) of Notification No.25/2012-ST dated 20.06.2012 includes ‘milk’. Accordingly, the services by way of transportation of milk by rail or a vessel from one place in India to another is covered within the scope of Mega Exemptions and thus, exempted from Service Tax.

The relevant circular is reproduced here for ready reference :

 

 

With effect from January 1,2013  the Income Tax Department has waived off  the obligation to deduct tax at source (TDS) on 7 transactions specified as here under :

(i)  bank guarantee commission;

(ii)  cash management service charges;

(iii)  depository charges on maintenance of DEMAT accounts;

(iv)  charges for warehousing services for commodities;

(v)  underwriting service charges;

(vi)  clearing charges (MICR charges);

(vii)  credit card or debit card commission for transaction between the merchant establishment and acquirer bank.

2. This notification shall come into force from the Ist day of January, 2013.

The relevant notification is reproduced here for ready reference :

Download (PDF, 83KB)

© 2012 GODHWANI LAW CO.