Since the amount deducted from the government employees was not transferred to the Income Tax department properly, the government has now sent notices to employees to pay income taxes with penalty. Not surprisingly, the government employees are not happy about it.

Employees with annual salary of more than Rs. 2 lakhs have to pay income tax. After the formation of the new government at the Centre, headed by Narendra Modi, the amount was raised to Rs. 2.5 lakhs.

The time duration for paying taxes for last year’s income ended in July this year. Everyone, including salaried persons, businessmen, industries, and individuals, was busy filing up the tax returns and submitting them.

Government employees’ taxes were deducted from their salaries each month. But the amount that was deducted from the salaries was not transferred from the state treasuries and audit offices to the Income Tax Department. Those who had filed their I-T returns received notices from the I-T Department that their taxes were not paid and that they will have to immediately pay the due amounts with penalties.

Employees of many departments, including the Income Tax Department, continue to receive these notices.

“Why are we being asked to pay the penalty if the State Governments didn’t transfer the deducted amount to the I-T department?” complain the government employees.

“The Government has already deducted taxes from our salaries. It is the Government’s job to hand the money over to the I-T department. We are not going to pay the penalty,” is the reply from many of the employees to the notice.

An officer of the state treasury said, “The amount deducted as income tax is being sent to the I-T department in parts. The government employees need not panic.”

“If the deducted amount is transferred regularly, then such troubles wouldn’t come at all. We hope the State Governments ensure that such blunders don’t happen in future,” the government employees say.

Source: www.govtenews.com

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Last date for filing of Income Tax Returns extended to August 5

The government on Wednesday extended the last date for filing of income tax returns by five days to August 5.

The due date,which was July 31,has been extended in wake of “unprecedented surge” in number of I-T returns being filed electronically.

“As a measure of taxpayers convenience,it has been decided to extend the due date of filing of returns from July 31,2013 to August 5,2013,” the Finance Ministry said.

As per the Central Board of Direct Taxes (CBDT),there has been an unprecedented surge in number of returns being e-filed.

This year till July 30,about 92 lakh returns have been electronically filed,which is 46.8 per cent higher than the returns e-filed during the corresponding period last fiscal.

Source:  http://indianexpress.com

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• Procedure for filing tax returns if you are living in smaller towns:
You can find out the ward that you belong to by logging in at the income tax department website, http://incometaxindia.gov.in/ . Those returns that have not been audited can be filed by filling up the relevant forms. The returns can be filed online too. If your income tax account is maintained online, then you will have to file your returns online too. It is preferable to file the returns online. You will get your tax reimbursements without any hassles if you choose to file online.
• Can I make the tax payments now and file the returns later?
If tax returns for the Financial Year 2013-14 are filed after July 31, how much penalty will it attract? You can file delayed tax returns for up to one year. But, you will have to pay penalties under Section 234A. The minimum amount for failure to pay taxes in the given Financial Year is Rs. 5000. You will be exempted from paying the penalty if you could give valid and acceptable reasons for your failure to pay the taxes on time.

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Ms. Nirmala Sitharaman, Minister of State for Finance said that tax structure needs to be further simplified so that it is easy for tax payers to comply and pay off the tax due from them. She said that the citizens want to become lawful compliant rather than tax evaders.

Ms Sitharaman was delivering the Valedictory Address at the conclusion of the two-day Annual Conference of Principal Chief Commissioners, Principal Director Generals, Chief Commissioners and Director Generals of Income Tax here today. She hoped that the delebrations of the two-day Conference would be helpful to the senior officers in handling various tax related issues and in reducing tax litigation and strengthening of grievance redressal mechanism.

Earlier Ms. Nirmala Sitharaman, Minister of State for Finance released a Handbook on ‘Effective Handling of Cases before Settlement Commission’.

The Valedictory Address was also attended by Shri Shaktikant Das, Revenue Secretary, Chairman and Members of CBDT and senior officers of the Revenue Department among others.

Earlier, Shri R.K. Tiwari, Chairman CBDT gave details of the two day deliberations of the 30th Annual Conference of Principal Chief Commissioners, Principal Director Generals, Chief Commissioners and Director Generals of Income Tax two-day and its major highlights. He assured that the officers of the Department will make all out efforts to achieve their respective targets in a transparent and fair manner.

He also said that the deliberations during the Annual Conference were very fruitful and would help the officers in dealing with various day to day tax related matters in an effective manner

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The Income Tax Department has asked the general public to not fall prey to the fraudulent emails that are being circulated regarding new tax guidelines.

In its press release dated 15.07.2014, the Income Tax Department has said the following – A number of taxpayers have received emails advising them to download the updated information regarding the payment of income tax. The emails originating from “incometaxindia.gov” are false and fraudulent. This entity is not related to the Income Tax Department in any way.

The Income Tax Department does not send any such emails or notifications from Yahoo or Gmail Ids. Taxpayers are cautioned against replying to such mails, providing any information requested in such mails or downloading any file or visiting any website mentioned in them. If you have received such an email, kindly log in to the Income Tax Department’s website and refer the “Report phishing” section.

For any further information and clarification, the Income Tax Department has advised the users to refer their website, www.incometaxindia.gov.in.

Source: CGEN.in
[http://centralgovernmentemployeesnews.in/2014/07/income-tax-department-cautions-the-public-about-phishing-emails/]

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Rule 12 of the Income-tax Rules, 1962 mandates that an individual or Hindu undivided family, if his or its total income or the total income in respect of which he is or it is assessable under the Act, during the previous year, exceeds ten lakh rupees, shall furnish the return electronically for the assessment year 2012-13 and subsequent assessment years.

It has been brought to the notice of the Board that the agents of non-residents, within the meaning of section 160(1) (i) of the Income –tax Act, are facing difficulties in electronically furnishing the returns of non-residents. This is because there may be more than one agent of the non-resident in India for different transactions or a person in India may be an agent of more than one non-resident. Such situations are not covered by the existing e-filing software which functions on the principle of one assessee-one PAN-one return.

It has also been brought to the notice of the Board that ‘private discretionary trusts’ having total income exceeding ten lakh rupees are facing problems in filing their return of income electronically in cases where they are filing their return in the status of an individual. This is because status of a private discretionary trust has been held in law as that of an ‘individual’. The existing e-filing software does not accept the return of a private discretionary trust in the status of an ‘individual’.

Accordingly it has been decided by the Board that:

(i) it will not be mandatory for agents of non-residents, within the meaning of section 160(1) (i) of the Income –tax Act, if his or its total income exceeds ten lakh rupees, to electronically furnish the return of income of non-residents for assessment year 2012-13;

(ii) it will not be mandatory for ‘private discretionary trusts’, if its total income exceeds ten lakh rupees, to electronically furnish the return of income for assessment year 2012-13.

PIB

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31-July-2012 17:17 IST

Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012

On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income Tax Act, 1961, has extended the ‘due date’ of filing of returns of income for the Assessment Year 2012-13 to 31st August 2012.
This has been done in respect of assesses who are liable to file such returns by 31st July 2012 as per provisions of section 139 of Income Tax Act, 1961 .

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