Tax return e filing

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 The date of E-filing of tax return has been extended. Is it applicable for all tax return E-filing? Is it applicable for year 2013-14 or foreveer????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2014 Which extension are you talking about?
The applicability of extension will be clearly mentioned in the notification through which extention is granted.

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 which is extended from 30th sep. to 30th nov.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 which is extended from 30th sep. to 30th nov.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2014 On 20.08.2014, CBDT issued an order under Section 119 of the Income Tax Act, 1961, by which it extended the due date for obtaining and furnishing tax audit report u/s 44AB from 30/09/2014 to 30/11/2014 for AY 2014-15. But CBDT did not extend the date of filing of Income Tax return. Since ITR can not be filed without Tax Audit a PIL has been filed in Delhi High Court against the order of CBDT for extension of due date of ITR. Decision awaited.

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 Now ITR will be filed before 30th sep. or later????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2014 And yes this extension is applicable only for AY 2014-15.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2014 As of now due date is 30.09.2014.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 September 2014 Important Update:

The CBDT vide Order [F.NO.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to November 30, 2014. However, the CBDT had not extended the due date for filing of the Income-tax Return ('ITR'). Consequently, many taxpayers were facing difficulty in filing of ITR without filing the tax audit reports.
In view of this, All Gujarat Federation of Tax Consultant filed a writ petition in the Gujarat High Court contending for the extension of the due date for filing of ITR to November 30, 2014.
On the impugned issue, petitioner argued that ITR is prepared on the basis of information collated and reported in the tax audit report and in absence of tax audit report it would not be possible for a taxpayer to compute his tax liability and file return of income on due date 30-09-2014. On the other side, the Income-tax Department argued that if the blanket extension is given for filing of return of income, the taxpayer would also defer the payment of due taxes to the credit of Central Government which would be prejudicial to interest of revenue. Dept. also gave surety to the Court that no penalty or interest would be levied for revision of return by the taxpayer, if any, pursuant to such tax audit.
However, Gujarat High Court suggested a mid-way which would tackle the practical problem being faced by the taxpayers and which would save the interest of revenue. Gujarat High Court directed the CBDT to extend the due date for filing of return of income for all purposes, inter-alia, carry forward of losses, allowability of deductions under Sections 80-IA, 80-IB, 80-IC, 80-ID, etc.
However, such extension has been granted subject to charge of interest under Section 234A for the period commencing from 01-10-2014 and up to the actual date of filling the return of income.
However, in such cases, the taxpayer will enjoy the option of paying taxes before the due date of 30-09-2014 and to that extent enjoy the exemption from levy of interest under Section 234A.
The copy of order is awaited.

Link: http://www.taxmann.com/topstories/222330000000003810/gujarat-high-court-directs-cbdt-to-extend-due-date-for-filing-of-itr-to-30-11-2014-subject-to-sec-234a-interest.aspx