Director's ITR
This query is : Resolved
02 September 2010
My query is as under:
Is a Managing Director, Director or a Company Secretary of the company require to file his/her personal salary Income Tax Return with the ward/circle in which the company is assessed????
We all are aware that now e-filing is mandatory for companies. Individuals have also started using this facility. When we e-file a return the ward/circle automatically come in the ITR V generated & as per the latest notification from CBDT no physical documents are required to be submitted with the ITR now.
Keeping in view the above facts is a Managing Director, Director & Company Secretary of a company require to send a copy of his personal ITR in the company ward/circle manually????? If yes, which section or case law contains this provision.
Is a Managing Director, Director or a Company Secretary of the company require to file his/her personal salary Income Tax Return with the ward/circle in which the company is assessed????
We all are aware that now e-filing is mandatory for companies. Individuals have also started using this facility. When we e-file a return the ward/circle automatically come in the ITR V generated & as per the latest notification from CBDT no physical documents are required to be submitted with the ITR now.
Keeping in view the above facts is a Managing Director, Director & Company Secretary of a company require to send a copy of his personal ITR in the company ward/circle manually????? If yes, which section or case law contains this provision.
02 September 2010
No.. its not required.
E-filing is sufficient & the normal procedure for individuals is required to be followed.
E-filing is sufficient & the normal procedure for individuals is required to be followed.
02 September 2010
But the ITO has issued us a notice without referring to any section / case law & asked our directors to produce their personal ITRs with him?? Can he do this??? If yes, where the provision in the IT Act, 1961.
02 September 2010
Your Question is---
s a Managing Director, Director or a Company Secretary of the company require to file his/her personal salary Income Tax Return with the ward/circle in which the company is assessed????
So what if a director is director in more than 1 companies?
Simply e-file or if filing manually file in the respective ward of the individual.
s a Managing Director, Director or a Company Secretary of the company require to file his/her personal salary Income Tax Return with the ward/circle in which the company is assessed????
So what if a director is director in more than 1 companies?
Simply e-file or if filing manually file in the respective ward of the individual.
02 September 2010
Yes Mr. Sanjay our director's are director in more than one company. What we should do??
Can you refer the section which will resolve the above case?
Can you refer the section which will resolve the above case?
02 September 2010
There is no such section Dear.
On allotment of PAN card ward is assigned and all are required to file the return to their allotted ward / circle.
According to what you have said the ITO has asked to produce the personal ITR of Director. It is a different thing to filing the return. They can ask for information u/s 133(6).
On allotment of PAN card ward is assigned and all are required to file the return to their allotted ward / circle.
According to what you have said the ITO has asked to produce the personal ITR of Director. It is a different thing to filing the return. They can ask for information u/s 133(6).
02 September 2010
During the efiling the IT portal picks the ITR ward from the PAN number itself.
Further, in the company's ITR, PAN details of director's are also given. I mean to say its all linked with PAN network.
The ITO can't levy any penalty only because the Directors have not filed ITR in the company's ward. However, during the assessment proceedings of the company, they can always ask for the copy of ITRs of its principal officers.
Further, in the company's ITR, PAN details of director's are also given. I mean to say its all linked with PAN network.
The ITO can't levy any penalty only because the Directors have not filed ITR in the company's ward. However, during the assessment proceedings of the company, they can always ask for the copy of ITRs of its principal officers.
02 September 2010
as far as delhi city is concerned, directors jurisdiction is attached to the company's jurisdiction. if he is director in more than one company jurisdiction shall be the company's jurisdiction from which remuneration is recd. by director, if remuneration is recd. from more than one company the jurisdiction shall be any one of them and once fixed the same shall continue.
however, return is efiled and AO of company ward asked for return copy simply he may be informed by submitting the copy of return and if he want to get the jurisdiction issue corrected within the deptt. he can do it.nothing to worry by the assessee
however, return is efiled and AO of company ward asked for return copy simply he may be informed by submitting the copy of return and if he want to get the jurisdiction issue corrected within the deptt. he can do it.nothing to worry by the assessee
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