Income tax update Due date for filling income tax return Every Person is required to file income tax return within due date as prescribed under section 139 of the Income Tax act.Section 139 also provide that ,who is required to file Income tax return and under which conditions.So before going to the due date for filing of income tax return ,first we describing here who is required to file Income Tax return.Thereaft er we will discuss due dates for filing of returns of income for different category of assessees. Further Mode of filing ( whether e file with digital signature or without digital signature or manual/paper filing) has been described in Rule-12 of the Income Tax Rules. Who is required to file Income Tax return Every Company Every Firm Individual /HUF/AOP/BOI or artificial Judicial person if Total Income plus Deduction under chapter VIA(Section 80C to 80U) ,exemption under section 10,10B,10BA is than maximum amount which is not chargeable under Income Tax Act. Sr no Particulars Due date 1 For such corporate assessees which is required to furnish a report u/s 92E(transfer pricing) of the Income Tax Act, 1961 30.11.2014 2 For all other Corporate assessees 30.09.2014 3 For non corporate assessees, (Like Partnership Firm ,prop Firm) whose accounts are required to be audited under Income tax act (Like 44AB turnover is more than 100 lakh in case of business and 25 lakh in case of profession - section 44AB and Business where disclosed profit is less than 8% of the turnover -Section 44AD) (year wise audit limit 44AB is available here) or any other act for the time being in force. 30.09.2014 4 For working partners of Partnership firms covered under sr no (3) above 30.09.2014 5 For any other assessees Like Salaried Income , Person having Income from House property , Interest income , Business Income where accounts are not required to be audited . 31.07.2014
Posted on: Sun, 06 Jul 2014 08:57:45 +0000
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