Category: Notifications

How to Update Mobile number & E-mail ID of Tax payers on e-Filing Portal of Income Tax India Website

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The process of updating and authenticating the contact details Mobile number & E-mail ID of Tax payers on e-Filing Portal of Income Tax India Website.

Updating Contact Details for FIRST TIME USER (NEW TAX PAYER) 

Provide the correct Mobile Number and Email ID during the Registration in the e-Filing portal, Activation link would be sent to the registered E-mail ID and a One Time Password (OTP also called PIN) is sent to the registered  Mobile Number. User needs to Click on the Link provided in the E-mail and  enter the OTP received in the mobile number for Successful activation of the  registered user in e-Filing portal.

Updating Contact Details for OLD USER (ALREADY REGISTERED TAX PAYER OR USERS) 

After the user logs in to the e-filing account, there will be a pop-up requesting the user to update the current Mobile number and E-mail ID. The user should update their personal Mobile number and Email so that the updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts.
Upon submitting the details, Department would immediately send OTPs  (PIN1 & PIN2) to new mobile number and Email ID. The respective PINs- PIN1 and PIN2 received through Mobile number and E-mail ID should be entered by them in the respective input fields to authenticate that the email ID and mobile are correct. Upon successful validation the Mobile number and email ID would be updated in the taxpayer’s profile and the process
would be complete.
The PIN1 and PIN2 would be valid only for the session – so taxpayers are advised not to close the webpage till PINs are entered and validated. In case of any difficulty or delay, the taxpayer can log in again and follow the same process to update the current contact details.

Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur

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Central Board of Direct Taxes has issued the notification which hereby notifies that Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of public worship of renown throughout the State of Tamil Nadu

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 3rd June, 2014
Income-tax

S.O. 1434(E).—In exercise of the powers conferred by clause (b) of sub-section (2) of Section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section. [Notification No. 29/2014/F. No. 176/05/2011-ITA.-I]

COST OF INFLATION INDEX FOR CAPITAL GAIN CALCULATION YEAR 2014-15 : CII 1024

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Central Government has issued the Notification for Cost of Inflation Index for capital gain calculation for financial year 2014-15 is 1024.

Notification No. 31/2014/F.No.142/3/2014-TPL: S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government hereby  makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

2. In the said notification, in the Table, after serial number 33 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

S.No Financial Year Cost Inflation Index
34 2014-15 1024

Haffkine Institute for Training Research & Testing, Mumbai Approved for IT Deduction for Research Activities

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M/s Haffkine Institute for Training Research & Testing, Mumbai, (PAN – AAATH1654B) has been approved by the Central Government under section 35 of the Income-tax Act, 1961 in the category of “University, College or Other Institution”, engaged in research activities.

NOTIFICATION NO.81/2013 [F. NO. 203/32/2012-ITA-II] Dated 22-10-2013

It is hereby notified for general information that the organization M/s Haffkine Institute for Training Research & Testing, Mumbai, (PAN – AAATH1654B) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2013-2014 and onwards in the category of “University, College or Other Institution”, engaged in research activities subject to the following conditions, namely:—

(i) The sums paid to the approved organization shall be utilized for scientific research;

(ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students;

(iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the Explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;

(iv) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

2. The Central Government shall withdraw the approval if the approved organization:—

(a) fails to maintain separate books of accounts referred to in sub-paragraph (iii) of paragraph 1; or

(b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or

(c) fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or

(d) ceases to carry on its research activities or its research activities are not found to be genuine; or

(e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules

Indian Plywood Industries Research & Training Institute, Bangalore

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Indian Plywood Industries Research & Training Institute, Bangalore, (PAN-AAAAI0707P) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from 1-4-2012 onwards, assessment year 2012-2013 and onwards in the category of “University College and other Institution”, engaged in research activities (approved organization shall be utilized for scientific research) subject to the following conditions, namely

NOTIFICATION NO.80/2013 [F. NO. 203/45/2012-ITA-II] Dated 22-10-2013

It is hereby notified for general information that the organization Indian Plywood Industries Research & Training Institute, Bangalore, (PAN-AAAAI0707P) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from 1-4-2012 onwards, assessment year 2012-2013 and onwards in the category of “University College and other Institution”, engaged in research activities subject to the following conditions, namely:—

(i) The sums paid to the approved organization shall be utilized for scientific research;

(ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students;

(iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the Explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;

(iv) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

2. The Central Government shall withdraw the approval if the approved organization:—

(a) fails to maintain separate books of account referred to in sub-paragraph (iii) of paragraph 1; or

(b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or

(c) fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1: or

(d) ceases to carry on its research activities or its research activities are not found to be genuine; or

(e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules

Complete Income Tax Guide for Salaried Individual for Financial Year 2013-14 by Income Tax Department

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Income Tax Department has issued the Circular No.08/2013 [F.No.275/192/2013-It(B)], Dated 10-10-2013 Giving Complete Details Of Tax Slab Rates, Different Deductions, Method Of Tax Calculation, Salary From More Than One Employer, Relief When Salary Paid In Arrear Or Advance, Computation Of Income Under The Head “ Income From House Property, Persons Responsible For Deducting Tax And Their Duties, Mandatory Quoting Of Pan And Tan, Compulsory Requirement To Furnish Pan By Employee (Section 206AA), Statement Of Deduction Of Tax Under Section 200(3) [Quarterly Statement Of TDS], Matters Pertaining To The TDS Made In Case Of Non Resident, Computation Of Income Under The Head “Salaries, Income Chargeable Under The Head “Salaries (5.1), Definition Of “Salary”, “Perquisite” And “Profit In Lieu Of Salary” (Section 17), Rebate Of Rs. 2000 For Individuals Having Total Income upto Rs. 5 Lakh [Section 87a], TDS On Payment Of Accumulated Balance Under Recognized Provident Fund And Contribution From Approved Superannuation Fund, The Drawing And Disbursing Officers (DDOS) To Satisfy Themselves About The Genuineness Of Claim, Calculation Of Income-Tax To Be Deducted, Example For Income Tax Calculations

Download Comlplete Income Tax Guide for Salaried Individual

Reverse Mortgage (Amendment) Scheme, 2013: Disbursement & Period of Loan

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Central Government has amended the Reverse Mortgage Scheme, 2008 by Reverse Mortgage (Amendment) Scheme, 2013 by NOTIFICATION NO.79/2013 F.No.149/54/2013-TPL] Dated 07-10-2013. Through this amendment Government has made the changes in Disbursement of loan, Period of reverse mortgage loan and define terms like annuity sourcing institution

NOTIFICATION NO.79/2013 [F.No.149/54/2013-TPL] Dated 07-10-2013

In exercise of the powers conferred by clause (XVI) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Reverse Mortgage Scheme, 2008, namely:—

1. (1) This Scheme may be called the Reverse Mortgage (Amendment) Scheme, 2013.

    (2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Reverse Mortgage Scheme, 2008, –

(1) in paragraph (2), after clause (a), the following clause shall be inserted, namely:-

“(ab) “annuity sourcing institution” means Life Insurance Corporation of India or any other insurer registered with the Insurance Regulatory and Development Authority established under sub-section

(1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);” ;

(2) in paragraph (3), in sub-paragraph (2), for the word, brackets and number “sub-rule (1)”, the word, brackets and number “sub-paragraph (1)” shall be substituted;

(3) for paragraph (5), the following paragraph shall be substituted, namely:-

(4) “5. Disbursement of loan. – The approved lending institution may disburse the loan, –

(a) to the reverse mortgagor by any one or more of the following modes, namely:-

(i) periodic payments to be decided mutually between the approved lending institution and the reverse mortgagor;

(ii) lump-sum payment in one or more tranches, to the extent that the aggregate of the amount disbursed as lump sum payments does not exceed fifty per cent of the total loan amount sanctioned; or

(b) in part or in full, to the annuity sourcing institution for the purposes of periodic payments by way of annuity to the reverse mortgagor.”;

(4) for paragraph (6), the following paragraph shall be substituted, namely:-

“6. Period of reverse mortgage loan.- The loan under reverse mortgage shall not be granted for a period exceeding,-

(i) twenty years from the date of signing the agreement by the reverse mortgagor and the approved lending institution, where the loan is disbursed in accordance with clause (a) of Paragraph 5;

(ii) the residual life time of the borrower, where the loan is disbursed in accordance with clause (b) of Paragraph 5.”.

Service Tax Voluntary Compliance Encouragement Scheme: Issues related to Undertaking, Payment of Tax Dues in Installment

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The Service Tax Voluntary Compliance Encouragement Scheme. Issues for clarification related to additional undertaking, repayment of tax dues in installment and queries raised by department related to VCS declaration statement.

  • VCS Undertaking for Tax Dues related to VCS period only, there is only single undertaking that all the information given in VCS statement/declaration is true and correct. So Designated Authority should not ask for any other undertaking or declaration.
  • Payment of Service Tax in installment i.e. Payment of 50% tax dues in installment is allowed till 31.12.2013 and remaining 50% can be deposited in installment till 30.06.2014 without interest and with interest till 31.12.2014.
  • Designated Authority can only raise queries related to arithmetical check as regards the correctness of computation of tax dues, the Scheme does not envisage investigation by the designated authority into the veracity of declaration. Only if the Commissioner has reason to believe that the declaration filed by the declarant is substantially false he may, for reasons to be recorded in writing, serve notice on the declarant requiring him to show cause why he should not pay the tax dues not paid or short-paid.

 F. No. B1/19/2013-TRU (Pt.)

Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
(Tax Research Unit)
***
New Delhi the 11th December, 2013
To,
All Chief Commissioners of Central Excise/Service Tax
Director General Service Tax
All Commissioners of Central Excise/Service Tax
Madam/Sir,
Sub: The Service Tax Voluntary Compliance Encouragement Scheme – issues for clarification – reg The undersigned is directed to state that the Board has issued clarifications on issues concerning various aspects of the VCES, vide circulars dated 13.05.2013, 8.08.2013 and 25.11.2013. A FAQ has also been issued on VCES. However, certain instances have come to notice, as mentioned below, that the declarants under the VCES are still facing difficulties.
2. In one instance, the Designated Authority has asked a declarant, who has “tax dues” only or a part of the period covered by the Scheme, to furnish an undertaking that he had no unpaid “tax dues” for the remaining period covered by the Scheme. However, the Scheme does not envisage furnishing of any such undertaking. A declarant may have tax dues only for a part period covered by the Scheme. In terms of the Scheme a declaration of tax dues has to be made in Form VCES-I, which includes an undertaking that the information given in the
declaration is correct and complete. Therefore, the Designated Authority should not ask for any other undertaking or declaration beyond what has been prescribed in the Scheme or Rules made there under.
3. In another instance, the Designated Authority has objected to the payment of the first tranche of 50%, payable by 31.12.2013, in installments. It is clarified that the Scheme only prescribes that the declarant would pay a minimum amount of 50% of the tax dues by 31.12.2013. Rest of the payment may be made by 30.6.2014, without any interest, and any amount remaining unpaid on 30.6.2014 shall be paid by 31.12.2014, with interest for the period of delay beyond 30.6.2014. There is no bar to pay these amounts in installments. For example a declarant may pay the 50% amount that he is required to pay by 31.12.2013 in more than one installment. Therefore, payment of 50% “tax dues” in lump-sum may not be insisted to.
4. In some instances, it has been observed that the Designated Authority has raised frivolous/unnecessary queries as regards the veracity and the manner of calculation of tax dues. While the designated authority may cause arithmetical check as regards the correctness of computation of tax dues, the Scheme does not envisage investigation by the designated authority into the veracity of declaration. Only if the Commissioner has reason to believe that the declaration filed by the declarant is substantially false he may, for reasons to be recorded in writing, serve notice on the declarant requiring him to show cause why he should not pay the tax dues not paid or short-paid.

Extension of Due Date of Filing Income Tax Return & Audit Report for FY 2012-13: AY 2013-14

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Central Board of Direct Taxes (CBDT) has extended the due date of filing of Income Tax return and Audit report for FY 2012-2013.i.e AY 2013-2014 to 31st Oct 2013 from prescribe due date of 30th September 2013. Such decision has taken by CBDT after Delhi Chartered Accountant Society has filed writ petition in Delhi High Court for  extension of due date of tax audit as on the last date of tax Audit  i.e. 30.09.2013 there was default on the part of the Respondents as the site of the Income Tax Department was not working or response time of income tax website was very slow which made the e-filing of Income tax return impossible.

F.No. 225/117/2013/lTA-II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North- New Delhi,

The Order under Section 119 of the Income Tax Act 1961

In exercise of powers conferred under section 119 of the Income-tax act, 1961 The Central Board of Direct Taxes, In continuation to order u/s 119 dated 26.09.2013 in F.No. 225/117/2013/1TA.II, hereby directs that in cases where the ‘due date’ of  furnishing audit and corresponding income-tax returns was 30th September, 2013 and when furnished electronically on or before 31 14 October, 2013, such reports of audit income shall be deemed to have been furnished within the ‘due date’ prescribed under section 139 of the Income-tax Act, 1961.

Service Tax on Restaurant Service, Circular No.173/8/2013 – ST

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Air Conditioned or  central air heating Restaurant, eating joint or mess serving food or beverages are liable to pay service tax. Central Board of Excise & Customs has issued the clarification related to applicability of service tax on food served outside the Air Conditioned area which is clearly demarcated and separately named but food is sourced from a common kitchen, only the service provided in the AC restaurant is liable to service tax and service provided in a non air-conditioned or non centrally air- heated restaurant will not be liable to service tax. In such cases, service provided in the non air-conditioned / non-centrally air-heated restaurant will be treated as exempted service and credit entitlement will be as per the Cenvat Credit Rules.  In a hotel, if services are provided by a AC restaurant in other areas e.g. swimming pool or an open area attached to the restaurant are liable to service tax.

Circular No.173/8/2013 – ST

F.No.334/3/2013-TRU

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

Tax Research Unit

                                                                                                               North Block

New Delhi, 7th October, 2013

To

Chief Commissioners of Central Excise and Customs (All),

Director General (Service Tax), Director General (Central Excise Intelligence), Director General (Audit),

Commissioners of Service Tax (All)

Commissioners of Central Excise (All),

Commissioners of Central Excise and Customs (All).

Madam/Sir,

 Subject: Restaurant Service- clarification -regarding

As part of the Budget exercise 2013, the exemption for services provided by specified restaurants extended vide serial number 19 of Notification 25/2012-ST was modified vide para 1 (iii) of Notification 3/2013-ST.  This has become operational on the 1st of April, 2013.

2.    In this context, representations have been received. On the doubts and questions raised therein clarifications are as follows:

Doubts

Clarifications
1. In a complex where air conditioned as well as non-air conditioned restaurants are operational but food is sourced from the common kitchen, will service tax arise in the non-air conditioned restaurant? Services provided in relation to serving of food or beverages by a restaurant, eating joint or mess, having the facility of air conditioning or central air heating in any part of the establishment, at any time during the year (hereinafter referred as ‘specified restaurant’) attracts service tax. In a complex, if there is more than one restaurant, which are clearly demarcated and separately named but food is sourced from a common kitchen, only the service provided in the specified restaurant is liable to service tax and service provided in a non air-conditioned or non centrally air- heated restaurant will not be liable to service tax. In such cases, service provided in the non air-conditioned / non-centrally air-heated restaurant will be treated as exempted service and credit entitlement will be as per the Cenvat Credit Rules.
2. In a hotel, if services are provided by a specified restaurant in other areas e.g. swimming pool or an open area attached to the restaurant, will service tax arise? Yes. Services provided by specified restaurant in other areas of the hotel are liable to service tax.
3. Whether service tax is leviable on goods sold on MRP basis across the counter as part of the Bill/invoice. If goods are sold on MRP basis (fixed under the Legal Metrology Act) they have to be excluded from total amount for the determination of value of service portion.

 3.    Trade Notice/Public Notice may be issued to the field formations and taxpayers. Please acknowledge receipt of this Circular. Hindi version follows.