Thursday, August 21, 2014 | comments

Friends,    Income Tax Department has released java based new utility for submission of online FORM 3CA-CD & FORM  3CB-3CD form alongwith updated schema. Secondly,  due date for submitting 3CB-CD form has been extended from 30.09.2014 to 30.11.2014 but income tax return submission  date has not been changed from 30.09.2014.

CBDT has also extended the date of obtaining and furnishing of tax audit report u/s 44AB for assessment year 2014-15 (financial year 2013-14) from 30.09.2014 to 30.11.2014 vide notification dated 20.08.2014.

       As you may aware of CBDT has recently amended the Tax audit form 3CA,3CB,3CD on 25.07.2014. ICAI has questioned the timing of the notification and represented to the CBDT to implement new audit report format from assessment year 2015-16.

Please note that due date has been extended only to obtain and furnish tax audit report ,Due date to file income tax return for audit for FY 2013-14 cases remains 30.09.2014.

Complete Notification of due date Extension is given as under.

New Delhi, the 20th August, 2014

Order Under Section 119 of the Income-tax Act, 1961

In exercise of power conferred by section 119 of the Income-tax Act (‘the Act’), the Central Board of Direct Taxes (CBDT) hereby extends the due date for obtaining and furnishing of the report of audit under section 44AB of the Act for Assessment Year 2014-15 in case of assessees who are not required to furnish report under section 92E of the Act from 30th day of September, 2014 to 30th November, 2014.

2. It is further clarified that the tax audit report under section 44AB of the Act filed during the period from 1st April, 2014 to 24th July, 2014 in the pre-revised Forms shall be treated as valid tax audit report furnished under section 44AB of the Act.

Under Secretary (TPL-III)

Instructions for uploading the above forms are given below :-

Download Java based Utility Form 3CA-3CD (Click Here)
Download Java based Utility Form 3CB-3CD (Click Here)

Income Tax :- Direct e-filing of Income Tax Return from Banks

Saturday, August 16, 2014 | comments

Friends,   Income Tax Department has provided facility of e-filing of Income Tax Return through Banks.  Customers using internet banking facility can avail benefit of this service.  Name, Address , Pan Number, Date of Birth , Bank Account Number, IFSC Codes etc may be automatically captured in filing of  income tax return from Bank Verified database.  

                In the first instance this facility has been started with Corporation Bank, Union Bank of India and  Oriental Bank of Commerce. Others banks are expected to follow the same. 

TDS :- CPC (TDS) mandates closure of Short Payment Defaults using Online Correction facility before allowing Conso Files

Sunday, August 10, 2014 | comments

Friends,   Income Tax Department has communicated through email to their deductos regarding TDS on 09/08/2014 that dedcutors have to deposit Short Payment before allowing to download Conso File.   

                 The information is very difficult and shocked for all.   Now in case TDS Return is submitted with error and Income Tax Department has raised demand on account of Short Payment, the Default amount will have to deposit  with in 30 days from the demand and then deductor will be above to download Conso file after needful tagging of unconsumed challans on TRACES. 

                   In our opinion , before implementation of below circular,  It is strictly  required that all errors in TDS return should be displayed before uploading any FVU file.  


Date of communication : 09/08/2014

Dear Deductor, 

The Centralized Processing Cell (TDS), in its endeavour to enforce TDS Compliance, is shortly mandating closure of “Short Payment defaults” in the quarterly TDS statements due to Unmatched Challans, before the Conso files can be downloaded from TRACES for the relevant statements. Following are key information to be noted in this regard:

  • CPC(TDS) mandates to close the above default by tagging unconsumed challans, if available in CPC(TDS) system, through online correction (without digital signature).
  • In case there is no available challan for consumption, the deductor is required to first deposit the due tax in the bank and then the same challan will be available for tagging in CPC(TDS) system after around 3-4 days of deposit.
  • CPC(TDS) mandates to close the above default by Matching or Payment of challans.
  • The user will not be able to download Conso file for the relevant TDS statement until the above default is closed.
  • The Online Correction facility of TRACES needs to be used for closure of the Short Payment default.
  • · User will subsequently be able to download the Conso file for relevant period only after the default is closed.

Why the Short Payment needs to be paid:

  • CPC (TDS) intends to enforce compliance towards payment of taxes to the Government.
  • In accordance with provisions of section 201(1) of the Act, where any person, including the principal officer of a company, who is required to deduct any sum in accordance with the provisions of the Act; does not pay, or after so deducting fails to pay, the whole or any part of the tax, as required by or under this Act, then, such person, shall be deemed to be an assessee in default in respect of such tax.
  • As per the provisions of section 220 of the Act,

    1. Any amount, specified as payable in a notice of demand shall be paid within thirty days of the service of the notice.

    2. If the amount specified in any notice of demand is not paid within the period limited under sub-section (1), the assessee shall be liable to pay simple interest at one per cent for every month or part of a month comprised in the period commencing from the day immediately following the end of the period mentioned in sub-section (1) and ending with the day on which the amount is paid.
  • If any person fails to deduct or pay the whole or any part of the tax, then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to deduct or pay under Section 271C of the Act.
  • Failure to pay tax to the credit of Central Government is punishable with fine as per the provisions of section 276B/ 276BB.
  • Section 278A of the Act prescribes for punishment for second and subsequent offences, if any person has been convicted of an offence under section 276B.

What Actions to be taken:

  • During submission of request for Conso File, a message will be displayed, if there are Short Payment defaults in the TDS statement and instructions will be provided to submit Online Correction.
  • Details of defaults will be provided during Online Correction process.
  • In case of insufficient challans, please use Challan ITNS 281 to pay the demand or use any other Challan, which has adequate balance available.
  • Submit an Online Correction using the functionality on TRACES to tag the challans with deductee rows. Login to TRACES and navigate to "Defaults" tab to locate "Request for Correction" from the drop-down list. You can refer to our e-tutorial for necessary help.
  • Online Challan Corrections:
    -A list of all Matched and Unmatched challans can be viewed by clicking the appropriate tab.
    -Unmatched challans can be corrected and tagged to Deductee rows in the statement.
    -The corrections in TDS statements can be raised even without Digital Signature.
    -Correct KYC information needs to be submitted for the purpose of validation.
    -All previous corrections pertaining to the statement should have been processed and the processing status can be verified from the Dashboard.

You are requested to take appropriate actions to avoid any inconvenience in absence of Conso files for carrying out any other corrections to your TDS statements.

For any assistance, you can write to or call our toll-free number 1800 103 0344.

CPC (TDS) is committed to provide best possible services to you.


Income Tax :- Recover your e-filing password

Friday, August 8, 2014 | comments

Friends,    Someone has recently asked that in case he has lost his previous ITR-V, email ID with password and e-filing password.  How can he submit his ITR-1 as in individual or others.   He has also tried to register as new register with new email id etc.  But it shows on screen that "PAN IS ALREADY REGISTERED",   so new registration is not possible.

The same problem has also been informed by another assessee, he had filed his ITR through legal adviser using email address and mobile number of adviser.   Now, he is not familiar with adviser and want to submit his ITR without consultation with adviser.  

Solution :-

Use "Forget Password" link available at  Enter your user ID and number as shown in  image . 

After that new screen will be displayed and you may select use OTP (PIN's) with new email address and mobile number.  The following screen will be displayed for your further inputs. 

We hope in this way e-filing password  problem can be easily removed. 

Income Tax :- Some problems with solutions regarding Legal Heir

Tuesday, August 5, 2014 | comments

Legal Heir

Problem Description :What all document do I need to attach as a ZIP file during registering myself as Legal Heir?

Corrective Action:You need to scan the following documents and ZIP them in a file:
  • Copy of the Death Certificate of the deceased person,
  • Copy of the PAN card of deceased person,
  • Self attested copy of PAN card of the Legal Heir.
  • Self attested copy of Legal Heir Certificate

Problem Description :I received an e-mail from Income Tax Department stating that my request for Legal Heir has been accepted and I am assigned as the Legal Heir for the deceased. Can I e-File for the deceased person now?

Corrective Action:Yes.

Problem Description :I am assigned as the Legal Heir for the deceased person. How can I e-File for the deceased person?

Corrective Action:LOGIN using your own User ID, Password and Date of Birth. Once logged in, GO TO ‘e-File’ –> ‘Upload Return’. Select the PAN from the drop-down option as the deceased’s PAN. Fill the remaining details on the page and upload XML. Sign using DSC if available and applicable.

Problem Description :I am trying to upload Income Tax Return for a deceased but I am getting an error message saying “PAN mentioned on Personal/ Verification section is invalid”. What should I do?

Corrective Action:Please ensure that the PAN entered in the Verification section of the Income Tax Return is your (Legal heir) PAN and not of the deceased person. Also, if the Income Tax Return is being digitally signed, the PAN encrypted in the DSC must match with the PAN mentioned in the verification section.

Problem Description :Whose Digital Signature Certificate (DSC) can I use to e-File the deceased’s Income Tax Return?

Corrective Action:You need to use your own valid Digital Signature Certifcate (DSC) which is registered with e-Filing

Income Tax : - Which ITR should I File, Proper Selection of ITR Form

Saturday, August 2, 2014 | comments

You already know that you have to file taxes, but do you know which Tax Form you need? 

If the answer to that question is “no”, don’t worry because that’s the answer most people have. Even if you’ve been filing your taxes for many years, you may need to use a different form depending on your sources of income. And this may even change every year. Keeping track of this is difficult and often people make mistakes because of this.

ClearTax ( has created a very simple picture that helps you understand which ITR applies to you for filing your taxes.

A quick guide to the various ITRs

ITR forms

Income Tax : -Solution for Login Problem due to PIN number through email or mobile.

Thursday, July 31, 2014 | comments

Friends,   It is generally found that there is login problem due to PIN or low connectivity etc on 31.07.2014 as it is Last Date for submission of Income Tax Returns for Assessment Year 2014-15 for those assessee's who have salaried income and interest income.  A large numbers of assessee falls in this category.  But due to heavy load on last date there was some problem in submission online  income tax return.  

In case you are facing login problem due to PIN you may use the following trick for submit your income tax return. :-

Solution for Non Getting PIN on mobile or email

     Presently user can use off-line Excel Based or Java Based utility. In Java based utility he may Login Directly without any updation of Mobile No. and Email address. Initially, he may use Pre-fill link and then enter your income data and after that finally, he can use submit button for uploading of Income Tax Return. In this may taxpayer or user can upload his Income Tax return without updating Mobile No and Email address on income tax website.

Income Tax :- Online application procedure for PAN through NSDL

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Online application procedure for PAN

Application forms

Mode of Payment

      For dispatch of PAN card within India

  • Credit Card / Debit Card
  • Net-banking
  • Cheque / Demand draft drawn in favour of ‘NSDL-PAN’ payable at Mumbai.

     For dispatch of PAN card outside India

  • Credit Card / Debit Card
  • Demand draft drawn in favour of ‘NSDL-PAN’ payable at Mumbai.

Supporting documents

  • Proof of Identity (POI), Proof of Address (POA) and Proof of Date of Birth (PODB) as per Rule 114(4) of Income Tax Rules, 1962
  • Proof of AADHAAR (Copy of AADHAAR Card), if AADHAAR is mentioned.
  • Additional documents for PAN Change Request application
  • Proof of PAN – Copy of PAN card/allotment letter
  • Proof of Change Requested – Documents indicating change of name (i.e. Name/Father’s name) from old name to new name

Important Check Points while filling form

  • No initials/abbreviations to be used in name/father’s name (except for Middle name).
  • No prefixes such as DR, Col, Major, etc. should be mentioned in ‘Name’, father’s name and ‘Name to be printed on card’ fields.
  • Representative Assessee (RA) details mandatory for minor/lunatic/idiot/deceased cases.
  • POI, POA and PODB should indicate exactly the same name as mentioned in the application.

How to apply for PAN?

  • On successful submission of online application and payment (for online mode of payment), an acknowledgement receipt is generated.
  • Save and take a print out of the acknowledgement receipt.
  • The duly signed and photos affixed acknowledgement receipt alongwith prescribed supporting documents (for cheque/DD mode of payment) should be sent to NSDL at 5th Floor Mantri Sterling , Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune-411 016.
  •  The 15 digit acknowledgement no. appearing on the acknowledgement receipt can be used for tracking status of application.

Track Status of PAN Application

Use 15-digit acknowledgement number for tracking the status of application, as under:

  • Check status at TIN website –please click here
  • SMS ‘NSDLPAN15 digit ack. no.’ to 57575.
  • E-mail us at
  • Contact our Call Centre at (020) - 2721-8080
  • Fax us your queries at (020) - 2721-8081
  • Write to us at following address:
             NSDL e-Governance Infrastructure Limited,
             5th Floor Mantri Sterling , Plot No. 341, Survey
             No. 997/8, Model Colony, Near Deep
             Bungalow Chowk, Pune-411 016

Please read instructions and guidelines carefully before filling online application forms

Apply online PAN (Click Here)

Income Tax :- What can we do in the absence of New Form No. 3CA, Form No. 3CB, New Form No. 3CD

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                The existing Form No. 3CA, Form No. 3CB and Form No. 3CD have been substituted vide Notification No.33 dated 25/07/2014 with immediate effect. Taxpayers and CAs are advised to await the release of the new schema and utility to submit in the newly notified aforementioned Forms. Taxpayers and CAs are advised that any upload using the old Forms will not be valid even for previous AYs in view of the notification of CBDT. The new schema and updated utility for e-Filing of the same will be deployed shortly

View Notification No 33 dated 25/07/2014 and Download new Form No. 3CA, Form No. 3CB and Form No. 3CD in word format (Click Here)

Free Excel Based Income Tax Calculators and others (Click Here) for registered users.

Income Tax :- Why should you file your Income Tax Return in time

Wednesday, July 30, 2014 | comments

Under Income Tax Law if your total income exceeds the basic exemption limit: You have to file the Income Tax Return within the prescribed time, i.e. by the due date.

 The due dates of filing returns for Assessment Year 2014-15 are the following:
Due Date

Most people fall in this category –
Salaried employees, pensioners and other
persons whose accounts are not required to be audited

31st July 2014

Companies and other persons whose
accounts are to be audited
30th September 2014  

What happens if a person does not file the Income Tax Return by the due date 

  • Revised return can not be submitted in case you have not submitted your return in time.
  • You have to Pay Interest on Income Tax Due if you don’t file on time  If you do not file the Income Tax Return by the due date:
  • You are liable to pay interest at the rate of one percent for every month after the due date till the date of filing the return.
  • If No Tax is due: Interest is calculated on the amount of tax payable after adjustment of pre-paid taxes like advance tax, TDS etc. So, if there is no tax payable on the basis of the Income declared in the Tax Return, there is no liability for the payment of interest.
  • You don’t get the benefit of Carry Forward of Losses if you don’t file on time Under income tax law, if you have sustained a Business loss or loss under the head “Capital Gains”, you can carry forward the loss ONLY if you file the Income Tax Return by the due date.
  • Therefore, if you have sustained a loss, you must file your Income Tax Return in time if you want to carry forward the loss for future adjustment with your Income.

Possibility of Penalty or Prosecution by the Income Tax Department 

  • Say you could not file the Income Tax Return by the due date: To avoid any penalty by the Income Tax Department, you must file your Income Tax Return before the end of the relevant assessment year that is 31st March 2015.
  • Possibility of Penalty and Prosecution: If you do not file your Income Tax Return by 31st March 2015, the Income Tax Department may impose a penalty of Rs. 5000, even though the tax payable by you may be Zero.
  • Further, if a person has failed to file the Income Tax Return by 31st March 2015 and the tax payable after adjustment of advance tax and TDS exceeds Rs. 3000, he may be prosecuted for imprisonment also. However, this law is used in practice very rarely.
  • Other reasons for filing the returns of income within time If a refund is due after adjustment of prepaid taxes, it is necessary to file the Income Tax Return to get the refund from the Income Tax Department.
  • Bank Loans: Further, the return is a declaration of your income and it will be extremely helpful when you are applying for a loan from bank. Before granting the loan, banks want to know your financial capacity and your income details as shown by you in income tax returns.
  • Visas of foreign countries: Many countries want to know if you are financially sound before they issue you a visa and for this purpose they will rely on your income tax returns.

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