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Querist : Anonymous (Querist)

25 August 2010 Is it compulsory to file return online?

Rahul Gupta

Rahul Gupta (Expert)
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25 August 2010 Till date it is mandatory on for Companies and Persons liable for Tax Audits.

rathish kumar.c.c

rathish kumar.c.c (Expert)
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26 August 2010 who comes under 44 ab it is compulsary

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Rahul Gupta

Rahul Gupta (Expert)
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26 August 2010 Any person whose turnover is more than Rs. 40 Lakhs or professional receipts are more than RS 10 lakhs are required to get their Accounts audited by a Chartered Accountants. For such persons, e filing of return is mandatory.

sachin alwadhi

sachin alwadhi (Expert)
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26 August 2010 now limit of 60 lacs intead of 40 lacs u/s 44 ab

Dayal

Dayal (Expert)
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26 August 2010 TRADE CIRCULAR

Trade Circular No. 18 T of 2009 Mumbai, Dated – 11.05.09

No. MVAT/e-Return/Returns Br./

Sub- 1) Mandatory filing of e-return

2) Acceptance of returns/challans not containing valid TINs.

Ref- 1) Notification, bearing No. VAT/AMD-1007/ IB/Adm-6. dt. 04.03.2009, issued by the Commissioner of Sales Tax, M.S

2) Trade Circular No. 7 T of 2009, dtd. 05.02.09.

Gentlemen/Sir/ Madam,

1. Mandatory filing of e-returns and its related payments:-

i. As per the notification referred at Sr. No. 1) above, any type of return of any dealer for any period under the Maharashtra Value Added Tax Act, 2002(“the M.V.A.T. Act”), if filed after 01.03.09 shall mandatorily be e-return. The dealers registered under the M.V.A.T. Act, are required to file the electronic returns in form 231, 232, 233, 234 or as the case may be form 235 with respect to their turnover of sales and purchases. Apart from this, if they are deducting tax at source, they are also then required to file return in form 405, disclosing therein the details related to tax deducted at source by them. Although the returns in form 231, 232, 233, 234, 235 are required to be compulsorily filed electronically, the returns in form 405 are to be filed only as per old procedure i.e. physical returns. For the dealers/persons who are not registered under M.V.A.T. Act, but are employers and deduct tax at source and are required to file the physical returns in form 405, a separate Trade Circular specifying the process is already issued under No. 42T of 2008, dtd.26.12.08.

Rest details of the same can be understood from the circular