CBDT extends date for filing ITR-V form to 31.03.2010 or 120 days from filing of return, whichever is later

Delhi , January 27,2010

Central Board of Direct Taxes has decided to extend the time limit for filing ITR-V form relating to income-tax returns filed electronically (without digital signature) on or after 1st April 2009, up to 31st March 2010 or within a period of 120 days from the date of uploading of the electronic return data, whichever is later. The ITR-V form should continue to be sent by ordinary post to Post Bag No.1, Electronic City Post Office, Bengaluru – 560100 (Karnataka).

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Dos and Don’ts for printing and submitting of ITR-V (Acknowledgment) to ITD-CPC Bangalore

1. Please use Ink Jet /Laser printer to print the ITR-V Form.

2. The ITR-V Form should be printed only in black ink.

3. Do not use any other ink option to print ITR V.

4. Use of Dot Matrix printer should be avoided.

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Difficulties in Filing acknowledgement of Income tax Return (ITR) filed online

The process of electronically filing Income tax returns through the internet is known as e-filing and is meant to ensure saving of time and paperwork for taxpayers. It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax returns electronically for AY 2009-10. E-filing is possible with or without digital signature.

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Summary of Amendments made by Maharashtra Value Added Tax (2nd Amendment) Rules 2009, dt 18th June 2009 w.e.f 01st July 2009

On 18th June 2009 the Government of Maharashtra has passed the Maharashtra Value Added Tax (2nd Amendment) Rules 2009 These amendments are brought into effect from 1st July 2009 unless otherwise specified. Following are the amendments which are made in the MVAT Rules: - 

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Time limit for filing ITR-V extended to 60 days

The Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified ITR-V form, within a period of 30 days, thereafter. The ITR-V form was required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post.

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Representation by BCA to FM on difficulties being faced/likely to be faced by Assessees while filing Return of Income

Re:       Hardships and Practical Difficulties being faced/likely to be faced by Assessees while filing the Return of Income for A.Y.2009-10, in view of directions contained in CBDT Circular No.03/2009 Dated 21.05.2009

We refer to the CBDT Circular No. 03/2009 dated 21.05.2009 in connection with the filing of the Income Tax Returns for A.Y. 2009-2010. 

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Information on how to open your ITR V/ ITR ACK

By now, many of you would have filed several tax returns of your clients or your own companies or even your own returns. It has been brought to our notice that this year, whenever an ITR form is filed electronically without the digital signature, the system shows that the ITR-V has been e-mailed to the e-mail ID registered with the Income-tax Department’s web site. Thereafter, when the ITR-V is tried to be opened, the system asks for a password. This was creating problems as the password that is generally used by the tax payer to log onto the e-filing site does not work while opening the ITR-V.

Recently, the Income-tax Department has put up the following clarification on its website. This would help all of you in opening the ITR-V in case of returns filed electronically.

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New Income Tax Rules and Requirement for filing of ITR for A.Y. 2009-10

For the current year, there have been a few changes which have been introduced and need to be kept in mind while filing the returns.The tax department has taken steps to make income tax returns filing easier and simple. In the past few years, there have been many improvements and use of technology by the Income Tax Department like introduction of e-filing , online tax payment, digital signature etc.

The Central Board of Direct  Taxes has notified these new forms for the assessment year 2009-10 :

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