New ITRs for AY 2013New ITRs for AY...

New ITRs for AY 2013New ITRs for AY 2013--1414

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EE--filing of Tax Audit Reportfiling of Tax Audit Report

CA. PRAMOD JAINCA. PRAMOD JAINFCA, FCS, ACMA, DISA, MIMAFCA, FCS, ACMA, DISA, MIMA

LUNAWAT & CO.LUNAWAT & CO.Chartered AccountantsChartered Accountants

NewNew

ITRsITRs

Lunawat & CoLunawat & Co..

ITRsITRs

Mandatory e-filing

� Companies – with DSC only

� An individual, HUF or Firm to whom Tax Audit is applicable – with DSC only

� Any individual or HUF being a resident (other than NOR) having assets located outside


than NOR) having assets located outside India or is signing authority in any account located outside India

� A person claiming relief u/s 90 or 90A or 91

� A person whose total income exceeds Rs. 5 Lacs

Mandatory e-filing� Mandatory e-filing of ITR where report of audit is

required under:

� S. 10 (23C) (iv), (v), (vi) or (via),

� Section 10A,

� Section 12A(1)(b),

� Section 44AB

Section 80-IA,


� Section 80-IA,

� Section 80-IB,

� Section 80-IC,

� Section 80-ID,

� Section 80JJAA,

� Section 80LA,

� Section 92E

� Section 115JB

Mandatory e-filing of Audit ReportsLunawat & CoLunawat & Co..

S. N Section Form N /F

1 10 (23C) (iv),(v), (vi) or (via)

10BB F

2 10A 56F N

3 12A(1)(b) 10B F

4 44AB 3CA/3CB; 3CD F4 44AB 3CA/3CB; 3CD F

5 80-IA 10CCB, 10CCC N

6 80-IB 10CCB, 10CCBC, 10CCBD

N

7 80-IC 10CCB N

8 80-ID 10CCBBA N

9 80JJAA 10DA N

10 80LA 10CCF N

11 92E 3CEB F

e-filing of Audit ReportsLunawat & CoLunawat & Co..

S. No.

Section Form N/F

1 33AB(2) 3AC N

2 33ABA(2) 3AD N

3 35D(4)/35E(6) 3AE N3 35D(4)/35E(6) 3AE N

4 44DA(2) 3CE N

5 50B(3) 3CEA N

6 142(2A) 6B F

7 285 49C N

8 115VW 66 N

Forms to be authorized by CALunawat & CoLunawat & Co..

S. No.

Section Form N/F

1 72A(2)(iii) 62 N

2 115R - UTI 63 N

3 115R - MF 63A N3 115R - MF 63A N

4 115U 64 N

General

� Now all returns to be paperless i.e., no documents to be attached including ITR – 7

� Instead of MICR now IFSC to be given


� Instead of MICR now IFSC to be given – mandatory for Refunds and return above 5 Lacs

ITRs to be usedLunawat & CoLunawat & Co..

Individual and HUF

Nature of income ITR 1

(Sahaj)

ITR 2 ITR 3 ITR 4 ITR 4S

Sugam

Income from salary/ pension Yes Yes Yes Yes -

Income from one HP (excluding losses) Yes Yes Yes Yes -

Income or losses from more than one HP - Yes Yes Yes -

Income not chargeable to tax > Rs. 5,000 - Yes Yes Yes -

Income from other sources (other than winnings

from lottery & race horses or losses in this head)

Yes Yes Yes Yes -

Income from other sources (including winnings

from lottery and race horses)

- Yes Yes Yes -

CG/loss on sale of investments/ property - Yes Yes Yes -

Share of profit of partner from a partnership - - Yes Yes -

Income from proprietary business/ profession - - - Yes -

Income from presumptive business - - - - Yes

Details of foreign assets - Yes Yes Yes -

Claiming relief of tax u/ss 90, 90A or 91 - Yes Yes Yes -

ITRs to be usedLunawat & CoLunawat & Co..

Other Assesses

Persons ITR 5 ITR 6 ITR 7

Firm Yes - -

Association of persons (AOP) Yes - -

Body of Individuals (BOI) Yes - -

Companies other than - Yes -Companies other than

companies claiming exemption

under Sec. 11

- Yes -

Persons required to furnish

return under:

(1) Section 139(4A);

(2) Section 139(4B);

(3) Section 139(4C); and

(4) Section 139(4D)

- - Yes

General changes in ITRs

� Details of Income accruing or arising outside India will have to be given in “Schedule FSI”.

� New “Schedule – AL” - Assets and


� New “Schedule – AL” - Assets and Liabilities of an individual or HUF. This is to be filled when the income > 25 lakhs.

� Immovable Property – Land, Building

� Movable – Bank, FDR, Cash, Shares, Insurance, Loans & Advances, Jewellery, Bullion, drawing, painting, vehicles, etc

� Liability in relation to above assets

ITR 6 – Changes B/s

� Revised Schedule VI followed

� Share application money pending allotment

� Pending for less than one year


� Pending for less than one year

� Pending for more than one year

� Non-current liabilities

� Deposits from related parties

� Loans and advances from related parties

ITR 6 – Changes – B/S

� Trade payables

� Outstanding for more than 1 year

� Others

� Long-term loans and advances:


� Long-term loans and advances:

� for the purpose of business or profession

� not for the purpose of business or profession

� given to shareholder, being the beneficial owner of share, or to any concern or on behalf/ benefit of such shareholder as per section 2(22)(e) of I.T. Act

ITR 6 – Changes – P & L

� Expenses to be disclosed into:

� To non resident other than a company or a foreign company

� To others


� Commission

� Royalty

� Professional / Consultancy fees / Fee for technical services

� Interest

ITR 6 – Changes – P & L

� Bad debts written off

� Specify PAN of the person, if it is available, for whom Bad Debt for amount of Rs.1 lakhor more is claimed and amount

Others (more than Rs. 1 lakh) where PAN is


� Others (more than Rs. 1 lakh) where PAN is not available

� Others (amounts less than Rs. 1 lakh)

Filing Online Filing Online Tax Audit Tax Audit

ReportReport


Reasons

�No information with ITD regarding Tax Audit Report

�Fake signing of Reports

Non- existence of CAs


�Non- existence of CAs

�Non- practicing CAs

�Part time COP

�Expired members

ProcessProcess

CA to Register

Assessee to add CA

CA to prepare TAR


CA to upload TAR

Assessee to accept TAR

Assessee to file ITR

Registration of CA� Register on E- Portal as Tax Professional

� Only practicing CA can register. Firm cannot register

� Details required:

� Name


� Name

� Membership number

� Date since member

� Password to be created

� DSC

� E-mail id

� Mobile No.

� Date of birth (same as per ICAI and PAN)

Registration of CALunawat & CoLunawat & Co..

� As soon as you register, you will receive an activation link on email id provided during Registration - click on the link to complete the registration process

Login for CA� After registration login using:

� User id as ARCA (Authorized Representative CA) prefixing with your membership no. Eg. ARCA654321.

� Password

� Date of Birth


Date of Birth

Assessee to Choose CA� Login with the user id and password of the

assessee

� Go to “ my account “

� Add CA – Enter the membership no of CA - the system will reflect name of the CA only if he is already registered as tax professional .


already registered as tax professional .

� Select the form no for which CA is to be added

� Select AY

� E-mail will be sent to selected CA about the adding his as CA of a particular assessee.

� E-mail will be sent to assessee also regarding the addition/change in CA.

Assessee to Choose CALunawat & CoLunawat & Co..

Changing CA

� Allowed before accepting the uploaded TAR


� You can add another CA

� From My Account use Dis-engage CA option. Then Add new CA

Preparing TAR

� Common Utility for 3CA/CB/CD, 3CEB, 6B, 10B, 10BB, 29B

� In Form 3CB – Para 2, Address of HO and no. of Branches also to be given


no. of Branches also to be given

� Fill as per Tax Audit Report Signed

� Depreciation Chart

� Does not calculate itself

� Date of addition to be given

� Use Block system

Preparing TAR

� Where no information – mention NA

� 40A(2)(b) – Name, PAN, Relation & Nature to be commented


� 269SS / 269T – give address and PAN and other details

� Validate – errors appear on right side – correct it and generate XML

Preparing Tax Audit Report

� In quantity units to be given

� Requires By-products separately though not required in 3CD

� Save Information as many times as


� Save Information as many times as possible

� While uploading a folder has to be created – ‘fakepath’ in C drive; where xml file is to be saved.

Uploading Tax Audit Report� To be uploaded by CA who signed TAR

� Balance Sheet and PL A/c are to be uploaded (in PDF format) along with the XML file of TAR in single action

sd/- copy can also be uploaded, but CA


� sd/- copy can also be uploaded, but CA should have signed copy with him. Signed copy should be preferred.

� XML file does not contain descriptions

� Also Cost Audit Report and Excise Audit report to be attached

Uploading Tax Audit Report� In Form 3CA – Statutory Audit Report

also to be attached

� Limit of attachments – 50MB

� Currently FRN is not allowed on portal, but may soon be allowed


but may soon be allowed

� If revised report is to be prepared and uploaded - SA 560 ‘Subsequent Events’.

� If ITR filed before 1.5.13 i.e. date of notification for e-filing of TAR, file TAR now

Uploading Tax Audit Report� After preparing all documents upload it

on e-filing portal by following steps:

� Login with user id & password -ARCA654321

� Go to menu E-file – Select upload forms

� Fill out the required details and submit it.


� Fill out the required details and submit it.

Assessee’s Approval� Assessee to approve tax audit report:

� Login in assessee A/c - Go to work list

� Approve the TA report using DSC

� Assessee can review the uploaded tax audit report; B/S and PL by CA and can


audit report; B/S and PL by CA and can reject them. For viewing report -password – PAN in lower case and date of birth

� Rejection by comments of at least 50 words

TAR � Assessee to approve TAR before due

date of filing the tax audit report else it will be assumed that no TAR has been furnished by the assessee.

� CA can view from - My Account:

Forms filed by him


� Forms filed by him

� PAN of client-wise

� XML

� AR

� Receipt of TAR filed

� Attached documents – B/s & PL

� His client list – includes inactive names

� No. of Audits

Latest Version

� In status – cooperative bank and cooperative society added

� In depreciation chart – Blocks predefined; closing WDV is calculated


predefined; closing WDV is calculated but not depreciation

� In brought forward loss – instead of order no – order u/s

� In ratios – now to give GP and turnover too. It calculates ratio itself

Process Process -- RecapRecap

CA to Register

Assessee to add CA

CA to prepare TAR


CA to upload TAR

Assessee to accept TAR

Assessee to file ITR


CA. CA. PramodPramod JainJain

LUNAWAT & CO.LUNAWAT & [email protected]@lunawat.com

+91 9811073867+91 9811073867

© CA. Pramod Jain, Lunawat & Co© CA. Pramod Jain, Lunawat & Co

New ITRs for AY 2013New ITRs for AY...

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