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'section 139a'
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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.
PAN UPDATE Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees Posted On: 14 APR 2018 10:44AM by PIB Delhi In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporate Affairs (MCA). In these cases, the Certificate of Incorporation (COI) issued by MCA contains a mention of both PAN and TAN. Finance Act, 2018 amended section 139A of the Income-tax Act, 1961 removed the requirement of issuing PAN in the form of a laminated card. Hence, it is clarified that PAN and TAN mentioned in the COI issued by MCA shall also be treated as sufficient proof of PAN and TAN for the said company assessees.
Condonation of Delay Scheme – Director Disqualification Stakeholders of Condonation of Delay Scheme (notified vide General Circular No.16/2017 dated 29th December 2017) may kindly note that the process for ‘reactivating’ the DINs in system in respect of disqualified Directors is in progress and they may check the status of the relevant DINs by 12th January 2018. However, they are requested to be ready with necessary ‘overdue documents’ for filing purposes. Stakeholders may further note that the scheme is not applicable for those Directors who may have been associated with a company which was struck off under Section 248(1) of the Companies Act-2013 and such DINs shall be activated only upon receipt of orders for revival of the said company as per due process laid down under Section 252 of the Companies Act-2013. In case you need assistance with filing annual return for your company or removal of Director Disqualification, contact Finanza Management Services LLP Business Advisor at info@fmsllp.in
MCA recently came up with some sort of relief, which says that if all the directors of a company shall stand vacated due to disqualification u/s 164(2)(a)read with section 167(1) then following options are available with the company: 1. The Promoters has the power to appoint new Directors u/s 167(3) and in all such cases, the issue of role check shall arise; 2. The ROCs also has the facility to add the signatory from back end with prior approval of Regional Director. For that, following documents shall be required: 1.NOC from outgoing Director, 2.Copy of EGM, and 3.Consent of new Director who is going to be appointed. The ROC’s/RD’s has to approve the above application within one week from the date of receipt of application. For more information, Please call to us Kapil Sharma +91-9990032660
GST Consultant || Delhi || info@fmsllp.in UPDATE: After Gujarat & Delhi, Bombay HC to examine transitional credit limitation Bombay HC issues notice to Attorney General in writ petition challenging constitutional validity of Section 140(3)(iv) of CGST Act, 2017, which limits availment of transitional credit to 1 year; However, refuses to grant any ad-interim relief while listing the matter on January 22, 2018. Read more at: Evergreen Seamless Pipes & Tubes Pvt. Ltd. vs. Union of India
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