Google+ Badge

Translate

What reforms are needed in our Direct taxation regim?

Follow me by Email

A GOOD CA IS A BOON TO BUSINESS

We give expert advice for your safe business

Followers

GOODS AND SERVICE TAX, INCOME TAX, FEMA FOREIGN EXCHANGE MANAGEMENT ACT, PREVENTION OF MONEY LAUNDERING ACT PMLA, VAT, EXCISE and CUSTOM CASES, DRI, DEBT RECOVERY TRIBUNAL, POLLUTION CONTROL BOARD, ESI, EPF, CIVIL AND CRIMINAL CASES, APPEALS TO TRIBUNALS AND HIGH COURT, SUPREME COURT, INTERNATIONAL COURT OF JUSTICE, FEDERAL COURT IN AMERICA ETC.

Blog Archive

Search This Blog www.cagauravdhall.com CA GAURAV DHALL LEADING CHARTERED ACCOUNTANT FIRM INDIA

Featured Post

New version of GSTR-4 offline tools (V2.1) is now available on GST portal

New version of GSTR-4 offline tools (V2.1) is now available on GST portal 10/04/2018 For preparing your GSTR-4 for the 4th...

Monday, April 2, 2012

E-filing Mandatory for Individual /HUF having Income more than 10 lacs. Income Tax 3rd Amendment Rules, 2012 dt 28-03-2012.

Income-tax (third amendment) Rules, 2012 - amendment in rule 12 and substitution of forms sahaj (itr-1), ITR-2, ITR-3, SUGAM (itr-4s), ITR-4 and itr-v
Notification No.14/2012 [F.No.142/31/2011-TPL]/S.O. 626(E), DATED 28-3-2012
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (3rd Amendment) Rules, 2012.
(2) They shall come into force on the 1st day of April, 2012.
2. In the Income-tax Rules, 1962,-
(A) in rule 12,-
(i)  in sub-rule (1),-
(a)  for the figures "2011", the figures "2012" shall be substituted;
(b)  after clause (a), the following proviso shall be inserted, namely:-
"Provided that the provisions of this clause shall not apply to a person being an individual, who is a resident and has
(i)  assets (including financial interest in any entity) located outside India; or
(ii)  signing authority in any account located outside India.";
 (c)  after clause (ca), the following proviso shall be inserted, namely:-
"Provided that the provisions of this clause shall not apply to a person being an individual or Hindu undivided family, who is a resident and has
 (i)  assets (including financial interest in any entity) located outside India; or
 (ii)  signing authority in any account located outside India."
(ii)  in sub-rule (3), in the proviso, clause (a) shall be renumbered clause (aaa) and before clause (a), as so renumbered the following clauses shall be inserted, namely:-
" (a)  an individual or a 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 for the assessment year 2012-13 and subsequent assessment years in the manner specified in clause (ii) or clause (iii);
(aa)  an individual or a Hindu undivided family, being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India and required to furnish the return in Form ITR-2 or ITR-3 or ITR-4, as the case may be, shall furnish the return for assessment year 2012-13 and subsequent assessment years in the manner specified in clause (ii) or clause (iii);"
(iii)  in sub-rule (5), for the figures "2010", the figures "2011" shall be substituted;
(B) in Appendix-II, for "Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 and ITR-V", the "Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 and ITR-V" shall be substituted

1 comments:

I appreciate this kind of useful information, this will really help me a lot. You have some quality information here that any reader would enjoy. Thanks for the tip!