GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
VYAPAR BHAWAN, I.P. ESTATE,
NEW DELHI-110 002
Circular No. 16 of 2015-16
Dated : 27.07.2015
SUBJECT : FILING OF ONLINE RETURN FOR 1ST QUARTER OF 2015-16 - EXTENSION OF PERIOD THEREOF.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
Dated : 27th July, 2015
All Pr. Chief Commissioners of Income Tax
SUBJECT : EXTENSION OF DUE DATE OF FILLING RETURN OF WEALTH FOR A.Y. 2015-16 - CLARIFICATION.
Recently, the Delhi CESTAT in the case of M/s Continental Airlines Inc. v Commissioner of Service tax, New Delhi 2015-TIOL-1481-CESTAT-DEL, has held that Service tax shall not liable in respect of the payments made to CRS/GDS under reverse charge mechanism and airport taxes collected by the Appellant from the airports.
Recently, CBDT has issued a notification dated 02.07.2015 regarding the e-filing Form 6 under sub-sections (1) and (2) of section 85 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015), the Central Board of Direct Taxes with the approval of the Central Government.
Any communication from the Income Tax department, especially receiving a notice from them, can send shivers down anyone's spine. However, there are chances that it might only be a routine enquiry or a request for simple clarification.
The income tax return filing season in on. The government believes in the philosophy of “Pay as your earn.” This objective is achieved through two pronged strategy. The first strategy is to ensure that the income is paid to the recipient after deduction of tax at the time of payment of the income. Which is implemented through tax deduction at source(TDS) or tax collected at source (TCS). For the remainders who are not fully covered under the first strategy, the government uses the second strategy of making them to discharge their tax liability by way of payment of advance tax as and when they are earning.
The Board vide Circular No. 113/07/2009-ST had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns (ST-3) and had circulated a return scrutiny manual for Service Tax.
With people becoming increasingly tech savvy, e-filing of income-tax returns is gaining in popularity. Additionally, with new forms and under the fresh filing process notified by Central Board of Direct Taxes, all taxpayers (except super senior citizens — 80 years and above) need to file returns in the electronic form to claim refunds.
A large number of taxpayers tend to skip the step of posting a signed physical copy of ITR-V to the Central Processing Centre in Bengaluru within 120 days of filing the returns online, assuming the job was done once the return was e-filed. However, the income-tax department doesn’t consider the process complete unless the ITR-V reaches them on time.
Despite all-out efforts of the government to go green, the mandate of physical submission of ITR-V prevented e-filing from becoming a completely paperless process. The process was completely paperless only if the person had a digital signature.
The Income Tax Department on Monday launched its ambitious One Time Password (OTP) based e-filing verification system for taxpayers, thereby ending the practice of sending paper acknowledgement to its office in Bengaluru.