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Showing posts from September, 2008

Relaxation from compulsory filing of e-return of income for representative assessee of non-residents

Agents of non-residents, within the meaning of section 160(1)(i), are facing difficulties in electronically furnishing the returns of non-residents as there can be more than one agent for a non-resident or vice-versa. It has, thus, been decided by CBDT that it will not be mandatory for agents of non-residents, within the meaning of section 160(1)(i) of the Income-tax Act, to electronically furnish the returns of non-residents for assessment year 2008-09.
Source: Circular No. 8/2008, dated 22.9.2008

CBEC ISSUES INSTRUCTIONS FOR PROCESSING OF RETURNS FOR AY 2007-08

CBEC ISSUES INSTRUCTIONS FOR PROCESSING OF RETURNS FOR AY 2007-08

Faced with a large number of electronic returns for A.Y. 2007-08 as also refund returns still pending for processing, the CBDT has been decided on the following:-

• All pending returns for A.Y. 2007-08 involving refund claims (including electronic returns with refund claims) must be processed on priority basis by 30th September, 2008. Where any scrutiny assessment is pending in these cases, refund should be issued only after completion of the scrutiny assessment.

• Electronic returns for A.Y. 2007-08 not involving refund claims can be taken up for processing after 30th September.

• Returns in forms ITR-4 and 5 filed in paper made by business assesses and not covered by section 44AB should be taken up for processing on priority basis at the earliest before next round of selection through CASS.

• Salary returns for A.Y. 2007-08 in which there is no refund or demand and the TDS claim is below Rs.5 lakh, may be given the last pr…