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CBDT extends due date of filing return of income to Nov. 30. However, no extension to the company or firm who is not liable to tax audit

Revised Form 3CA-3CD & Form 3CB-3CD along with updated Schema is now available for e-Filing.

CBDT hereby extends the due date of filing return of income for Assessment Year 2015-16 from 30th day of September, 2014 to 31st Oct, 2015.

Cost Inflation Index for Financial Year 2015-16 is 1081

Extension of due date of filing return of income
Due Date for assessee required to get audit report under section 44AB of the Income Tax Act, 1961 has been extended to 30th Novenber,2014.


Revised Form 3CA-3CD & Form 3CB-3CD is available
Revised Form 3CA-3CD & Form 3CB-3CD along with updated Schema is now available for e-Filing.


Tax Audit Report Date Extended
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. 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. Note that Return filing due date has not been extended.


Tax Point India

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05 August 2014 : No new tangible material - Whether reassessment permissible even if initiated within four years?

The power of reassessment has been given u/s 147 of the Income-tax Act, 1961. An assessment can be reopened if the Assessing Officer has 'reason to believe' that income chargeable to tax has escaped assessment, but if he wants to do so after a period of four years from the end of the assessment year, he can do so only if the assessee has fallen short of his duty to disclose fully and truly all material facts necessary for his assessment. It is a settled judicial principle that reassessment is not permissible on mere "change of opinion". The concept of "change of opinion" more ...

12 November 2013 : Service Tax

Presentation on Service Tax more ...

16 August 2013 : Highlights of the Companies Bill, 2012

Presentation on Highlights of the Companies Bill, 2012 (as passed by Rajya Sabha) more ...

15 April 2013 : India, Malta sign new double taxation avoidance pact

India and Malta signed a new double taxation avoidance pact (DTAA) at Valetta, Malta, on April 8. more ...

14 April 2013 : I-T dept to ‘name and shame’ habitual tax evaders

The Income Tax department has decided to name and shame “chronic” tax defaulters by publicising their names and addresses. more ...

10 April 2013 : Direct taxes panel to discuss procedural snags on Friday

Procedural and administrative difficulties faced by income tax assessees are likely to come up for special discussion at the meeting of the Central Direct Taxes Advisory Committee (CDTAC) slated for Friday. more ...

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29 July 2011 : Honda Siel Power Products Ltd. -vs- Dy. CIT
Sec. 14A bars reassessment but not original assessment on the basis of the retrospective amendment. more ...

06 July 2011 : CCEx -vs- M/S Doaba Steel Rolling Mills
The Central Board of Direct and Indirect Taxes are required to come out with a uniform policy, laying down strict parameters for the guidance of the field staff for deciding whether or not an appeal in a particular case is to be filed. more ...

05 July 2011 : Justice P.D. Dinakaran -vs- Hon'ble Judges Inquiry Committee and others
In deciding the question of bias one has to take into consideration human probabilities and ordinary course of human conduct more ...

25 May 2012 : CIT -vs- Vision Inc.
If the notice served its purpose, it does not matter on whom the notice is served. whenever a case is set up by the assessee that there has been no valid or proper service of the notice issued under Section 143(2) of the Act, be it for the purpose of regular assessment under Section 143(3) of the Act or for the purpose of a block assessment under Chapter XIV-B or for the purpose of an assessment under Section 153A, such a plea has to be examined thoroughly and in-depth by taking a practical and reasonable view of the matter, not inconsistent with the statutory provisions, keeping in mind the basic principle that the liability to pay tax, which is founded on the charging provisions of the statute, is not to be nullified on specious or unjustified pleas taken by the assessee. more ...

23 May 2012 : Jagran Prakashan Ltd. -vs- DCIT (TDS)
Ad agencies are not agent of newspaper; hence TDS is not required to be deducted on commission paid to such agencies more ...

04 May 2012 : Court on Its Own Motion -vs- CIT
High Court takes notice of TDS Refund harassment by Department & Demands Answers more ...

01 August 2011 : Cairn U.K. Holdings Ltd.
The proviso to section 112 shall not be applicable in case of long term Capital Gains arising to non-resident on sale of equity shares. more ...

26 July 2011 : LS Cable Limited
Even if a PE is involved in carrying on some incidental activities such as clearance from the port and transportation, it cannot be said that the PE is in connection with the offshore supplies more ...

06 August 2010 : Joint Accreditation System of Australia and New Zealand
India-Australia DTAA : There is no transfer of any skills or technical knowledge or experience, or process or know-how to CABs (Conformity Assessment Bodies) on account of grant of accreditation by applicant to those entities for providing third party certification and/or inspection services more ...

30 September 2011 : ACIT -vs- M/s Punjab State Coop & Marketing Fed. Ltd. / M/s Punjab State Coop & Marketing Fed. Ltd. -vs.- ACIT
No disallowance u/s 14A shall be made in absence of nexus between investment in tax-free securities & borrowed funds. Sec. 14A disallowance cannot exceed exempt income more ...

22 July 2011 : ACIT -vs- Star Cruise India Travel Services Pvt Ltd
The business operations carried out outside India and inside India must have such a relationship as to contribute to business operations as a whole. The income which can be subjected to tax in India can never exceed the income attributable to operations carried out in India. more ...

18 July 2011 : Anjuman-e-Khyrkhah-e- Aam -vs- Dy.DIT
If a charitable trust, carrying on charitable activities alone, applied funds for acquiring buildings and similar assets, such amounts also should be considered as amounts applied for charitable purposes. Even if one or two assets are applied for other purposes, it shall be classified under charitable trust only because it is quite natural that the assessee may explore new sources of income to support charitable activities. more ...

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