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Request for Extend due date of filing ITRs of 31st July, 2017 to 30th Sep, 2017 Due to the implementation of the GST law from 01.07.2017 and the necessity of linking of PAN with Aadhaar Number from 01.07.2017 while filing ITR, has caused severe problems to tax-payers. When the last date for filing ITR approaches the income tax e-filing site suffers great slowdown thereby leading to delay in filing the same as also once the session of login at e-filing portal is over the user has to re-enter the required details for login which involves a great hectic for the user especially in reference to the tax consultants, chartered accountants who file the large number of ITRs of their clients. Not only this, sometimes it also happens that the site goes under repair or shows technical problems in last days, even at the eleventh hour of filing the ITRs, which leads to the waste of the valuable time of the persons filing the ITRs . Therefore, looking to the above problems, keeping in view the interests of the taxpayers the e-filing site should be made more well equipped with the functions which provide the users of the site to restore the work done by them before the hanging up of the site and such breakdown of the site must be prevented. Assessees are getting messages for filing their ITR on due date of 31 July. The welfare of the honest taxpayers also lies in providing of the basic e-filing facilities and timely availability of the income tax e-filing site in working condition for the online submission of ITRs. In view of these hardships, faced by the users until the e-filing site is made more secured and strong enough the due date for the filing of returns must be extended in order to protect the taxpayers who are willing to file timely ITRs but due to the problems inherited in the site they are finding it difficult to do so on “due date”. As per Explanation 2 of section 139(1) of the Income Tax Act, 1961, for the purposes of the sub-section (1) of section 139, “due date” means, — × (a) where the assessee [other than an assessee referred to in clause (aa)] is— (i) a company; or (ii) a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; or (iii) a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force, the 30th day of September of the assessment year; (aa) in the case of an assessee who is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year; (b) in the case of a person other than a company, referred to in the first proviso to this sub-section, the 31st day of October of the assessment year; (c) in the case of any other assessee, the 31st day of July of the assessment year. Therefore, keeping in view the hard realities due date, 31 July of filing income tax return should be extended to 30.09.2017 as correction in the PAN and Aadhaar, wherever is not linking, is also taking time and there are problems of internet, e-filing site and works relating to newly implemented GST.
GST Service : As you are aware that the Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure rather we can say that the biggest business reform in India since Independence, at last set to become reality and which may be roll out from 1st April 2017. Here’s given below that how GST differs from the current tax regime, how it will work, and what will happen when it is implemented. Gst Service in Mayur Vihar .
*Key take-outs from the 17th Meeting of GST Council held on 18th July* 1. *GST Council categorically decided to implement GST from 1st July*. There will be a special launch of GST in Delhi on the mid-night of 30th June and 1st July. 2. *Relaxation in Return filing time-line for first 2 months*: A summary return form in GSTR-3B will required to be filed on self-declaration basis for first 2 month i.e. July and August by 20th day of next month. I.e. for the month of July, a summary return needs to be filed by 20th august after paying appropriate taxes, and for the month of August, the same needs to filed by 20th September. 3. GSTR-1 with invoice level details needs to be filed for the month of July by 5th September, and for the month of August by 20th September. GSTR-2 and GSTR-3 for these 2 months will be filed thereafter. 4. *Reduced tax rate for hotels with tariff between 5000-7500*: Reduced tax rate of 18% will apply on the hotels with tariff between Rs. 5000 to Rs. 7500. Restaurants in these hotels will also be taxable at 18%. 5. *Tax rate on Lotteries* State-run lotteries will be taxed at 12% Private lotteries will be taxed at 18* 6. *Negative List of Composition Scheme* Only 3 products have been added in negative list of Composition Scheme, which means for following 3 products composition scheme will not be available. • Ice cream • Pan masala • Tobacco 7. *E-way bill* will be deferred and will be implemented later on once the rules for same will finalized. Till that time, an alternate e-way bill will be introduced to allow the state with their current system. 8. IGST rate of 5% on Ship with full ITC will be applicable. 9. GST Council also approved anti-profiteering rule. 10. *New Registration in GST will be commenced from 25th June.*
Income Tax Return Due by 31st July 2017 to avoid interest & late filing fees. Call us at +91 9990032660 & +91 9560982731 or revert us to this email. In case you fall in any of the below mentioned category then you need to file your income tax returns on or before 31st July 2017 (25 Days to Go): ▪ Individual having income from salary or pension; ▪ Income from other source like interest income; ▪ Income from Capital Gain; ▪ Income from House Property; ▪ Income from person owning small business and not liable to get their accounts audited; ▪ Assessee other than companies having a Gross Turnover below Rs 2 crore; ▪ Professional having gross receipts below Rs. 25 lakhs.
What should be done for the last Service Tax Return for the period April-June, 2017? Finance Ministry has notified that filing of Service Tax Returns in Form ST-3 / ST-3C for the period April – June 2017 has to be done by August 15; Revised Return for said period shall be submitted within a period of 45 days from date of submission of return.
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