DTBA submits request for deferment of recent amendments
The District Taxation Bar Association (Direct Taxes) held a general house meeting at Income Tax office, Rishi Nagar,on Saturday evening.punjab Updated: Aug 17, 2014 20:39 IST
The District Taxation Bar Association (Direct Taxes) held a general house meeting at Income Tax office, Rishi Nagar,on Saturday evening.
The meeting was preside3d over by president Anup Jain and secretary Sanjeev Bhandari.
It was decided by the members to give representation to finance minister for deferment of new form 3CA, 3CB and 3CD, which are used for furnishing tax audit report for assessment year 2015-16.
The members of the bar submitted the representation to Bhandari and Jain. The representation includes the following reasons for deferment; the schema and the revised e-utility for uploading the amended forms had not been updated on the website of the department for e-filing the return of income.
The disclosure requirements in the amended forms relate to almost all disallowances liable to be made under provisions of the Income Tax Act, 1961 in addition to other indirect tax laws that would require an in depth study of all provisions of the relevant laws so that due justification was done to the amendments.
The new form and the newly inserted clauses were not merely observations but require detailed working and examination by the tax auditors. The tax payers were also required to furnish additional information.