In its constant endeavor  to make the online registration process more transparent, the UP Commercial Tax Department has directed that the following notices/orders shall be issued online:

1. Notices for cancellation of Registration.

2. Order for suspension of Registration.

Also in addition to the above the following notices shall also be issued online

A. Notice under section 28 of the UPVAT Act,2008.

B. Notice under section 29 of the UPVAT Act,2008.

The relevant circular is reproduced here for ready reference:

Download (PDF, 138KB)

 

 

UP Commercial Tax Department has now done away with the requirement of bank details of dealers during the  process online registration of the dealers on its website.

 

The relevant circular is reproduced here for ready reference:

Download (PDF, 171KB)

 

 

TIN-NSDL  has released  new Return Preparation Utilitiy- RPU 3.9 for incorporating  latest FVU Versions

•           FVU version 4.2 – For Statements pertaining to FY 2010-11 onwards.

•           FVU version 2.138 – For Statements up to FY 2009-10.

Key features of RPU 3.9

  • “Particulars of the Person Responsible for Deduction of tax” option under “Form” page of RPU:

“Same as above” check box has been provided under “Particulars of the Person Responsible for Deduction of tax” option of “Form” page. On selecting this, fields such as Flat No., Area/Location, Name of Premises/Building, Road/Street/Lane, Town/City/District, State and Pincode will be auto-populate.

The said option is available for Regular TDS/TCS statements only.

  • While saving TDS/TCS file through RPU, file name will auto populate in predetermined format (Example: While saving a Regular file for Form 24Q Q4 through RPU, file name “24QRQ4” will auto populate under saving option. Similarly, while saving a Correction file for Form 26Q Q4, file name “26QCQ4” will auto populate under saving option.
  • Addition of deductee records for Regular TDS/TCS statements in RPU:

New window has been provided for addition of deductee records for Regular TDS/TCS statements in RPU. With the use of this, user can map corresponding deductee record to the respective challan. Those users who don’t want to use this option may proceed by clicking on “Skip this step” button.

  • Error message for negative values in RPU:

Error message will populate for any negative values present under amount fields of Challan as well as Annexure I (Deductee details) of RPU.

  • Challan balance as per consolidated file downloaded from TRACES:

New column i.e. “Challan balance as per consolidated file” (No. 23 under “Challan” details) has been added in RPU which will reflect unutilized balance available in challan based on consolidated file downloaded from TRACES.

  • Incorporation of latest FVU Version 4.2 and 2.138.

 

The relevant RPU can be downloaded from the link below:

e-TDS-RPU 3.9

 

 

Tin-NSDL  has released the following new File Validation Utilities on April 26, 2014:

•           FVU version 4.2 – For Statements pertaining to FY 2010-11 onwards.

•           FVU version 2.138 – For Statements up to FY 2009-10.

These two FVU versions are mandatory with effect from April  26, 2014.

Key feature of new FVU versions

  • Nil challans in TDS/TCS Statements will be permitted with no deductee records for Form 24Q Q4: The validations with respect to Nil challan statements have been relaxed for Form 24Q Q4 for all financial years. Deductors will be permitted to submit Form 24Q Q4 for all Financial Years with NIL challans and no corresponding deductee records.
  • Validation for TDS amounts in case of higher deduction flag for Form 24Q pertaining to FY 2010-11 onwards: In case deductor has provided flag for higher rate of deduction i.e., “C” in the TDS statement Form 24Q, the TDS amount for such deductee records should not be less than 20% of the amount paid/credited. This validation is also applicable for correction statement wherein new records are added. The same will not apply for those correction statements where deductee records are being updated.
  • Validation for field “Form 15CA Unique Acknowledgement Number (if available)” in Annexure I of Form 27Q applicable for FY 2013-14 onwards: Validation for the field “Unique acknowledgement of the corresponding Form no 15CA (if available)” in Annexure I has been modified to permit any alpha-numeric value between 12 to 15 characters in the Form 27Q statement.

 

The relevant FVUs can be downloaded from the links below :

FVU 4-2

FVU 2.138

 

 

Even if profit of a partnership firm is exempt, share of profit will be exempt in hands of partners.

The entire profit credited to partners’ account in the firm would be exempt form tax in the hands of such partners, even if the income chargeable to TAX becomes NIL in the hands of the firm  on account of any  exemptions or deductions as per the provisions of the Act.

 

The relevant circular is reproduced here for ready reference:

Download (PDF, 131KB)

 

CBDT notifies Sahaj (ITR-1), ITR-2, Sugam (ITR-4S) , ITR-V FOR A.Y. 2014-15.

The relevant Forms are attached here below:

Download (PDF, 700KB)

Download (PDF, 1.63MB)

Download (PDF, 1.31MB)

Download (PDF, 1.88MB)

 

 

W.e.f.  A.Y. 2014-15, CBDT has made the electronic filing of Income Tax Returns under Digital Signature mandatory for Political Parties.

The relevant notification is reproduced here for ready reference:

Download (PDF, 238KB)

 

 

 

 

W.e.f. A.Y. 2014-15, CBDT has made the electronic filing of Income Tax Returns mandatory for Partnership Firms.

1.      Partnership Firm who are required to get their accounts audited under Section 44AB can file ITR 5return only electronically under digital signature.

2.     Partnership Firm who are not required to get their accounts audited under Section 44AB can sumit the return in any of the following mode :-

(i)          furnishing the return electronically under digital signature;

(ii)         transmitting the data in the return electronically and thereafter submitting theverification of the return in Form ITR-V;

The relevant notification is reproduced here for ready reference:

Download (PDF, 238KB)

 

Service Tax Return (ST-3) excel utility for the period of October 2013 to March 2014( second half of the financial year 2013-14 ) is now available in ACES for e-filing by the assesses in both offline and online versions. The last date of filing the ST-3 return for the above mentioned period is 25th April, 2014.

The utility is attached here :

ACES E FILING-ST-3

© 2012 GODHWANI LAW CO.