Tax Amendments to File Income-Tax Return for Ay 2013-14
Tax amendments to file Income-Tax return for AY 2013-14
It is well known fact that tax payers are now required filing their Income-tax Return for the Financial Year 2012-13 relevant to the Assessment Year 2013-14. These Income-tax Returns in most cases have to be filed by 31st July, 2013. However, for the Corporate Sector as well as for persons who are having the requirement of tax audit the last date of filing Income-tax Return happens to be 30th September 2013.
The Central Board of Direct Taxes recently has amended certain provisions of the Income-tax Rules concerning filing of the Income-tax Return. Some of the points mentioned in this new amendment are really very very important for practical filing of the Income-tax Return by the tax payers for the Assessment Year 2013-14. Hence, in this article an attempt is being made to highlight all those important points which are required to be kept in mind while filing the Income-tax Return for the Assessment Year 2013-14. The Income-tax (3rd Amendment) Rules, 2013 which have been issued vide Notification No. 34/2013 dated 1.5.2013 provides for amendments in Rule 12 of Income-tax Rules, 1962 and also through these rules certain Income-tax Return Forms have been substituted. The substituted Return Forms are SAHAJ ITR 1, ITR 2, ITR3, SUGAM ITR 4S, ITR 4 and ITR V. Please use the new Income tax Return forms while filing Income-tax Return for the A.Y. 2013-2014.
The following are some of the important amendments which have been made in the Income-tax Rules with reference to filing of Income-tax Return for the Assessment Year 2013-2014:-
1. Until last year the Income-tax Return in Form No. SAHAJ-ITR1 was permitted to be filled up by all individuals having salary income as also income from house property and income from other sources except income from lottery or from horse races. However, as a result of the new amendment the individual if he has got any loss under the head Income from Other Sources, then such
It is well known fact that tax payers are now required filing their Income-tax Return for the Financial Year 2012-13 relevant to the Assessment Year 2013-14. These Income-tax Returns in most cases have to be filed by 31st July, 2013. However, for the Corporate Sector as well as for persons who are having the requirement of tax audit the last date of filing Income-tax Return happens to be 30th September 2013.
The Central Board of Direct Taxes recently has amended certain provisions of the Income-tax Rules concerning filing of the Income-tax Return. Some of the points mentioned in this new amendment are really very very important for practical filing of the Income-tax Return by the tax payers for the Assessment Year 2013-14. Hence, in this article an attempt is being made to highlight all those important points which are required to be kept in mind while filing the Income-tax Return for the Assessment Year 2013-14. The Income-tax (3rd Amendment) Rules, 2013 which have been issued vide Notification No. 34/2013 dated 1.5.2013 provides for amendments in Rule 12 of Income-tax Rules, 1962 and also through these rules certain Income-tax Return Forms have been substituted. The substituted Return Forms are SAHAJ ITR 1, ITR 2, ITR3, SUGAM ITR 4S, ITR 4 and ITR V. Please use the new Income tax Return forms while filing Income-tax Return for the A.Y. 2013-2014.
The following are some of the important amendments which have been made in the Income-tax Rules with reference to filing of Income-tax Return for the Assessment Year 2013-2014:-
1. Until last year the Income-tax Return in Form No. SAHAJ-ITR1 was permitted to be filled up by all individuals having salary income as also income from house property and income from other sources except income from lottery or from horse races. However, as a result of the new amendment the individual if he has got any loss under the head Income from Other Sources, then such