COMPLIANCE CALENDAR UNDER DIRECT TAX LAWS · Income : Form Nos. ITR-1 to ITR-7 (as the case may be)...

COMPLIANCE CALENDAR UNDER DIRECT TAX LAWS

Date1 Obligation Form number

June 15, 2010 Quarterly statement of TDS

deposited for the quarter ending

March 31, 2010

TDS salary : 24Q

TDS other : 26Q

TDS non-resident : 27Q First instalment of advance

income-tax in the case of a

company for the assessment year

2011-12

Challan No. ITNS 280

June 30, 2010 Return in respect of securities

transaction tax for the financial

year 2009-10

Form No. 1 (for stock

exchange), Form No. 2

(for mutual fund)

Particulars to be furnished by

resident contractor under section

194C(3)(i)

Form No. 15J

Quarterly return of non-deduction

of tax at source by a banking

company from interest on time

deposit in respect of the quarter

ending March 31, 2010

Form No. 26QAA

Report by an approved

institution/public sector company

under section 35AC(4)/(5) for the

year ending March 31, 2010

Form No. 58C or 58D

July 7, 2010 Deposit of tax deducted at source

and tax collected at source during

the month of June 2010


July 10, 2010 Monthly statement in respect of

tax deducted/collected during the

month of June 2010, in case of an

office of the Government where

TDS/TCS is deposited without

production of a challan

Form No. 24G

July 15, 2010 Quarterly statement of TDS/TCS

in respect of tax

deducted/collected for the quarter

ending June 30, 2010

TDS salary : 24Q

TDS other : 26Q

TDS non-resident : 27Q

TCS : 27EQ

July 30, 2010 Quarterly TDS/TCS certificate:

Quarterly TDS certificate in respect of TDS on payments other

than salary, for tax deducted

during the quarter ending June 30,

2010

Quarterly TCS certificate in respect of tax collected during the

quarter ending June 30, 2010

Form No. 16A

Form No. 27D

July 31, 2010 Annual return of income and

wealth for the assessment year

2010-11 if the assessee is not

Income : Form Nos. ITR-1

to ITR-7 (as the case may

be)

file:///C:/TaxmannDataStore/DBFiles/Temp/ftn1_calander.htm

required to submit return of

income on September 30, 2010

Wealth : Form BA

Quarterly return of non-

deduction of tax at source by a

banking company from interest

on time deposit in respect of the

quarter ending June 30, 2010

Form No. 26QAA

Statement by scientific research

association, university, college

or other association or Indian

scientific research company as

required by rules 5D, 5E and 5F (if

due date of submission of return of

income is July 31, 2010)

—

August 7, 2010 Deposit of tax deducted at source


the month of July 2010


August 10, 2010 Monthly statement in respect of


month of July 2010, in case of an




Form No. 24G

August 31, 2010 Annual information return under

section 285BA for the financial

year 2009-10

Form No. 61A

September 7,

2010

Deposit of tax deducted at source


the month of August 2010


September 10,

2010

Monthly statement in respect of


month of August 2010, in case of

an office of the Government where



Form No. 24G

September 15,

2010

First instalment (in the case of a

non-corporate assessee) or

second instalment (in the case of a

corporate-assessee) of advance

income- tax for the assessment

year 2011-12


September 30,

2010

Annual return of income and

wealth for the assessment year

2010-11 if the assessee is (a)

corporate-assessee or (b) non-

corporate assessee(whose books

of account are required to be

audited) or (c) working partner (of

a firm whose accounts are required

to be audited)

Income : Form Nos. ITR-1

to ITR-7 (as the case may

be)

Wealth : Form No. BA

Audit report under section 44AB

for the assessment year 2010-11

in the case of a corporate-assessee

Form Nos. 3CA or 3CB

and 3CD

or non-corporate assessee

Statement by scientific research

association, university, college

or other association or Indian

scientific research company as

required by rules 5D, 5E and 5F (if

due date of submission of return of

income is September 30, 2010)

—

October 7, 2010 Deposit of tax deducted at source


the month of September 2010


October 10, 2010 Monthly statement in respect of


month of September 2010, in case

of an office of the Government

where TDS/TCS is deposited

without production of a challan

Form No. 24G

October 15, 2010 Quarterly statement of TDS/TCS

in respect of tax


ending September 30, 2010

TDS salary : 24Q

TDS other : 26Q


TCS : 27EQ

October 30, 2010 Quarterly TDS/TCS certificate:



during the quarter ending

September 30, 2010


quarter ending September 30, 2010

Form No. 16A

Form No. 27D

October 31, 2010 Annual audited accounts for

each approved programmes

under section 35(2AA)

—

Copies of declaration received in

Form No. 60/61 (not being

received at the time of opening a

bank account) during April 1,

2010 to September 30, 2010 to the

concerned Director (Investigation)

—

Quarterly return of non-

deduction of tax at source by a

banking company from interest

on time deposit in respect of the

quarter ending September 30, 2010

Form No. 26QAA

November 7,

2010



the month of October 2010


November 10,

2010



month of October 2010, in case of

Form No. 24G




November 30,

2010

Statement of income distribution

by venture capital company or

venture capital fund in respect of

income distributed during 2009-10

Form No. 64

December 7,

2010



the month of November 2010


December 10,

2010



month of November 2010, in

case of an office of the

Government where TDS/TCS is

deposited without production of a

challan

Form No. 24G

December 15,

2010

Second instalment (in the case of

an assessee other than a company)

or third instalment (in the case of a

company) of advance income-tax



January 7, 2011 Deposit of tax deducted at source


the month of December 2010


January 10,

2011



month of December 2010, in case




Form No. 24G

January 15,

2011

Quarterly statement of TDS/TCS

in respect of tax


ending December 31, 2010

TDS salary : 24Q

TDS other : 26Q


TCS : 27EQ

January 30,

2011

Quarterly TDS/TCS certificate:

Quarterly TDS certificate in respect of TDS on payments

other than salary, for tax deducted

during the quarter ending

December 31, 2010

Quarterly TCS certificate in respect of tax collected during

the quarter ending December 31,

2010

Form No. 16A

Form No. 27D

January 31,

2011

Quarterly return of non-deduction

at source by a banking company

from interest on time deposit in

respect of the quarter ending

December 31, 2010

Form No. 26QAA

February 7,

2011




the month of January 2011

February 10,

2011



month of January 2011, in case of




Form No. 24G

March 7, 2011 Deposit of tax deducted at source


the month of February 2011


March 10, 2011 Monthly statement in respect of


month of February 2011, in case




Form No. 24G

March 15, 2011 Third instalment (in the case of an

assessee other than a company) or

fourth instalment (in the case of a

company) of advance income-tax



April 7, 2011 Deposit of tax collected at source

during the month of March 2011

(see note given below for due

date of deposit of tax deducted at

source during the month of March)


April 10, 2011 Monthly statement in respect of


month of March 2011, in case of




Form No. 24G

April 30, 2011 Deposit of tax deducted at source

during the month of March 2011


Copies of declaration received in

Form No. 60/61 (not being

received at the time of opening a

bank account) during October 1,

2010 to March 31, 2011 to the

concerned Director (Investigation)

—

May 7, 2011 Deposit of tax deducted at source


the month of April 2011


May 10, 2011 Monthly statement in respect of


month of April 2011, in case of an




Form No. 24G

May 15, 2011 Quarterly statement of TDS/TCS

in respect of tax


ending March 31, 2011

TDS salary : 24Q

TDS other : 26Q


TCS : 27EQ

May 30, 2011 Quarterly TDS/TCS certificate:



during the quarter ending March

31, 2011


quarter ending March 31, 2011

Form No. 16A

Form No. 27D

May 31, 2011 Annual Certificate of tax deducted

at source to employees in respect

of salary paid and tax deducted

during 2010-11

Form No. 16

Return of tax deduction from

contributions paid by the trustees

of an approved superannuation

fund

Note: Tax deducted by an office of the Government during the month of March is to be

deposited by 7th April. Tax deducted by any person other than an office of the

Government during the month of March is to be deposited by 30th April.

PENALTIES

Section Nature of default Penalty leviable Relevant

Rules

(1) (2) (3) (4)

140A(3) Failure to pay wholly or partly—

(a) self-assessment tax/fringe benefit tax, or

(b) interest, or

(c) both

under section 140A(1)

Such amount as Assessing

Officer may impose but not

exceeding tax in arrears

158BFA(2) Determination of undisclosed income of block

period

Minimum : 100 per cent of tax

leviable in respect of

undisclosed income

Maximum : 300 per cent of tax

leviable in respect of

undisclosed income.

221(1) Default in making payment of tax Such amount as Assessing

Officer may impose but not

exceeding amount of tax in

arrears

271(1)(b) Failure to comply with a notice under section

115WD(2)/115WE(2)/142(1) or section 143(2) or

failure to comply with a direction under section

142(2A)

Fixed at Rs. 10,000 for each

failure

271(1)(c) Concealment of particulars of income or fringe

benefits or furnishing of inaccurate particulars of

Minimum : 100 per cent

income or fringe benefits Maximum : 300 per cent of tax

sought to be evaded in addition

to tax payable

271(4) Distribution of profits by registered firm otherwise

than in accordance with partnership deed and as a

result of which partner has returned income below

the real income

Not exceeding 150 per cent of

difference between tax on

partner‘s income assessed and

tax on income returned, in

addition to tax payable

271A Failure to keep, maintain, or retain books of

account, documents, etc., as required under section

44AA

Rs. 25,000

271AA Failure to keep and maintain information and

documents required by section 92D(1) or 92D(2)

2% of value of each

international transaction entered

into

271AAA Where search has been initiated and undisclosed

income found

10% of undisclosed income

271B Failure to get accounts audited or furnish a report

of audit as required under section 44AB

One-half per cent of total sales,

turnover or gross receipts, etc.,

or Rs. 1,00,000 1, which-ever is

less

271BA Failure to furnish a report from an accountant as

required by section 92E

Rs. 1,00,000

271BB Failure to subscribe any amount to units issued

under scheme referred to in section 88A(1)

20 per cent of such amount

271C Failure to deduct tax at source, wholly or partly,

under sections 192 to 196D (Chapter XVII-B) or

failure to pay wholly or partly tax u/s 115-O(2) or

second proviso to section 194B

Amount equal to tax not

deducted or paid

271CA Failure to collect tax at source as required under

Chapter XVII-BB

Amount equal to tax not

collected

271D Taking or accepting certain loans and deposits in

contravention of provisions of section 269SS

Amount equal to loan or deposit

taken or accepted

271E Repaying any loan or deposit specified in section

269T in contravention of its provisions

Amount equal to loan or deposit

repaid

271F Failure to furnish return as required by section

139(1) or by its provisos before the end of the

relevant assessment year

Rs. 5,000

271FA Failure to furnish an annual information return as

required under section 285BA(1)

Rs. 100 per day of default

271FB Failure by an employer to furnish the return of

fringe benefits as required under section 115WD(1)

Rs. 100 for every day of default

271G Failure to furnish any information or document as

required by section 92D(3)

2% of the value of the

international transaction for each

failure

272A(1) Refusal or failure to : Rs. 10,000 for each

failure/default

(a) answer questions

(b) sign statement

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(c) attend to give evidence or produce books of

account, etc., in compliance with summons

under section 131(1)

272A(2) Failure to :

(a) furnish requisite information in respect of

securities as required under section 94(6) ;

(b) give notice of discontinuance of business or

profession as required under section 176(3) ;

(c) furnish in due time returns, statements or

certificates, deliver de-claration, allow

inspection, etc., under sections 133, 134,

139(4A), 139(4C), 192(2C), 197A, 203, 206,

206C, 206C(1A) and 285B;

(d) deduct and pay tax under section 226(2)

(e) file a copy of the prescribed statement within

the time specified in section 200(3) or the

proviso to section 206C(3)

(f) file the prescribed statement within the time

specified in section 206A(1)

Rs. 10,000 for each

failure/default. (In respect of

penalty for failure, in relation to

a declaration mentioned in

section 197A, a certificate as

required by section 203 and

returns u/ss 206 and 206C and

statements under section 200(3)

or proviso to section 206C(3),

penalty shall not exceed amount

of tax deductible or collectible)

272AA(1) Failure to comply with section 133B Not exceeding Rs. 1,000

272B Failure to comply with provisions of section

139A/139A(5)(c)/(5A)/(5C)

Rs. 10,000

272BB(1) Failure to comply with section 203A Rs. 10,000 for each

failure/default

272BB(1A) Quoting false tax deduction account number/tax

collection account number/tax deduction and

collection account number in

challans/certificates/statements/documents referred

to in section 203A(2)

Rs. 10,000

Note : No penalty is imposable for any failure under sections 271(1)(b), 271A, 271AA, 271B, 271BA, 271C,

271CA, 271D, 271E, 271F, 271FA, 271FB, 271G, 272A(1)(c) or (d), 272A(2), 272AA(1), 272B, 272BB(1),

272BB(1A) and 272BBB if the person or assessee proves that there was reasonable cause for such failure

(section 273B).

With effect from 1-4-2008 section 273AA provides that a person may make application to the Commissioner

for granting immunity from penalty, if (a) he has made an application for settlement under section 245C and the

proceedings for settlement have abated; and (b) penalty proceeding have been initiated under this Act. The

application shall not be made after the imposition of penalty after abatement.

PERIODS OF LIMITATION

Section Nature of compliance Limitation of time Relevant

Rule

(1) (2) (3) (4)

10(23C) Making an order accepting/rejecting Within 12 months from end of

application made under first proviso for grant

of exemption under sub-clause

(iv)/(v)/(vi)/(via)

month in which application was

received

Making application under fourteenth proviso

to section 10(23C) to designated authority by

educational/medical institutions, etc., referred

to in section 10(23C)(iv)/(v)/(vi)/(via)

On or before 30th September of


10A(8) Furnishing declaration by assessee in respect

of industrial undertaking in any free trade

zone for not availing tax holiday under section

10A

Before due date for furnishing

return of income under section

139(1)

10B(8) Furnishing declaration by assessee in respect

of 100 per cent export-oriented undertaking

for not availing tax holiday under section 10B



139(1)

10C(6) Furnishing declaration by assessee in respect

of certain industrial undertakings in North

Eastern Region for not availing tax holiday

under section 10C



139(1)

12A(1)(aa) Filing application for registration of trust or

institution for purposes of section 11

Application on or after 1-6-2007

shall be made in the prescribed form

and in the prescribed manner and

the provisions of sections 11 and 12

shall apply in relation to the income

of such trust or institution from the

assessment year immediately

following the financial year in

which such application is made.

12AA Passing an order granting or refusing

registration of trust

Within 6 months from the end of the

month in which application u/s

12A(1)(aa) is received

35 Order accepting/rejecting application made

under first proviso to section 35(1) for grant of

approval under section 35(1)(ii)/(iii)

Within 12 months from end of

month in which such application

was received

44AB Getting accounts audited by accountant and

furnishing report

30th September of relevant

assessment year

6G

80QQB Receiving or bringing into India in convertible

foreign exchange, income by way of royalty

or copyright fees, earned outside India


previous year or such extended

period as the Competent Authority

may allow in this behalf

80RRB Receiving or bringing into India in convertible

foreign exchange, income by way of royalty

on patents, earned outside India


previous year or such extended

period as the Competent Authority

may allow in this behalf

92CA(3A) Passing of order u/s 92CA(3) by Transfer

Pricing Officer

At least sixty days before the period

of limitation referred to in section

153 or section 153B, as the case

may be, for making the order of

assessment or reassessment or

recomputation, or fresh assessment,

expires. [This time limitation shall

also be applicable in cases where a

reference was made to the Transfer

Pricing Officer before 1-6-2007 for

determining arm‘s length price of an

international transaction but an

order under sub-section (3) of the

said section has not been passed by

him before the said date.]

92D Furnishing information/documents required by

revenue authorities

Within a period of 30 days from the

date of receipt of a notice issued in

this regard, and such period may be

extended by a further period not

exceeding 30 days

10D

92E Furnishing report of accountant Within due date specified in section

139

10E

115-O(3) Deposit of tax on distributed profits of

domestic companies

Within 14 days from date of

declaration, distribution or payment

of dividends whichever is earlier

115R(3) Deposit of tax on distributed income of

UTI/Mutual Fund

Within 14 days from the date of

distribution or payment of income,

whichever is earlier

115R(3A) Furnishing statement in prescribed form to

prescribed income-tax authority giving details

of income distributed to unit holders, tax paid

thereon, etc.

On or before 15th September in

each year

12B

115U(2) Person responsible for making payment of

income on behalf of venture capital

company/fund and venture capital

company/fund to furnish to person receiving

such income and to prescribed income-tax

authority, statement in prescribed form and

verified in prescribed manner, giving details

of nature of income paid during the previous

year and such other relevant details as may be

prescribed

30th November of financial year

following previous year during

which such income is distributed

12C

115VP Opting for Tonnage Tax System (TTS)

- Existing qualifying company Between 1-10-2004 and 31-12-2004 11P

- Company incorporated after 1-1-2005

and being a qualifying company

Within 3 months of incorporation

- Existing company which becomes a

qualifying company after 1-1-2005

Within 3 months of it becoming a

qualifying company

115VP(4) Joint Commissioner passing order under sub-

section (4) of section 115VP

Within one month from end of

month in which application under

section 115VP(1) was received

115WD(1) 1 Filing return of fringe benefits

- by company/person whose accounts are

to be audited

On or before 30th September of


- by other employers On or before 31st July of relevant

assessment year


115WE(1) 1 Sending intimation u/s 115WE(1) Before expiry of 1 year from end of

financial year in which return is

made

115WE(2) 1 Notice for scrutiny assessment Before the expiry of 6 months from

the end of financial year in which

return is furnished

124(3) Challenging Assessing Officer‘s jurisdiction Where a return is made under

section 139(1), before expiry of 1

month from the date on which a

notice under section 142(1) or

143(2) is served or before the

completion of assessment,


Where no return is made before the

expiry of time allowed by notice

under section 142(1) or under

section 148 for making the return or

under section 144 for showing cause

why best judgment assessment

should not be made, whichever is

earlier

131(3) Retention of impounded books or documents

by Assessing Officer/Assistant Director

without obtaining approval of Chief

Commissioner/Director

General/Commissioner/Director

Not more than 15 days (exclusive of

holidays)

132(8) Retaining books of account or other

documents seized under section 132(1) or

132(1A) by authorised officer without

approval of Chief

Commissioner/Commissioner/Director

General or Director

Not more than 180 days [30 days

from the date of assessment order

under section 153A or section

158BC(c)]

132(8A) Period for which order passed under section

132(3) to remain in force

60 days from date of order

132(9A) Handing over of books, etc., to ITO having

jurisdiction

60 days from date on which last of

authorisations for search was

executed

132B(1) Release of assets seized after recovery of

existing liability

Within 120 days from date on which

last of the

authorisations/requisitions under

section 132/132A was executed

132B(1),

first proviso

Making application to Assessing Officer for

release of asset explaining nature and source

of acquisition of asset

Within 30 days from end of the

month in which asset was seized

133A(3) Retention by income-tax authority of

impounded books of account, documents

without approval of Chief

Commissioner/Director General

Not more than 10 days (exclusive of

holidays)

139(1) Filing return of income by a company 30th September of relevant

assessment year

12

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Filing return of income by any non-corporate

assessee :

12

- a person required to have his account

audited under the Act or any other law/a

working partner of a firm, which is

required to have its accounts audited

30th September of relevant

assessment year

- others 31st July of relevant assessment

year

139(3) Filing of return of loss Within the time allowed under

section 139(1)

139(4) Filing belated return of income Within 1 year from the end of the

relevant assessment year or before

completion of assessment,


139(4A) Filing return by every person receiving

income in respect of which he is assessable as

a representative assessee from property held

under trust/legal obligation wholly or partly

for charitable or religious purposes, etc., if

total income exceeds maximum amount not

chargeable to tax

Within time allowed under section

139(1)

139(4B) Filing of return by every political party by its

chief executive officer


139(1)

139(4C) Filing return by every (a) scientific 1 research

association referred to in section 10(21), (b)

news agency referred to in section 10(22B),

(c) association or institution referred to in

section 10(23A), (d) institution referred to in

section 10(23B), (e)

fund/institution/trust/university/other

educational institution/medical institution

referred to in sub-clause (iiiad), (iiiae), (iv),

(v), (vi) or (via) of section 10(23C), (f) trade

union/association referred to in sub-clause (a)

or (b) of section 10(24), if the total income

without giving effect to the provisions of

section 10 exceeds the maximum amount not

chargeable to tax.


139(1)

139(4D) Filing return by every university, college or

other institution referred to in section 35(1)(ii)

and 35(1)(iii) which is not required to furnish

return of income or loss under any other

provisions


139(1)

139(5) Filing revised return Within 1 year from the end of the

relevant assessment year or before

the completion of assessment,


139(9) Rectifying defect in return of income Within 15 days from date of

intimation by Assessing Officer or

extended time


139A Filing application for allotment of permanent

account number

Assessment year 1999-2000 or any

subsequent assessment year - 30th

June of relevant assessment year

114

140A(1) (i) Payment of income-tax/fringe benefit tax

on self-assessment

Before furnishing return of income

(ii) Payment of interest on tax due for filing

belated return or default or delay in

payment of advance tax

Before furnishing return of income

142(1)(i) Where a person has not made a return of

income before the end of the relevant

assessment year, the Assessing Officer may

serve a notice requiring him to furnish return

of income.

After the end of relevant assessment

year

Notice referred to above served after the end

of the relevant assessment year commencing

on or after 1st April, 1990 shall be deemed to

be a notice served in accordance with the

provisions of the Act.

143(1) Sending intimation under section 143(1) Before expiry of 1 year from end of

financial year in which return is

made

143(2)(ii) Serving notice in case of understatement of

income or under payment of tax for hearing

for regular assessment/limited scrutiny

assessment

Before expiry of 6 months from end

of financial year in which return is

furnished

144C(2) Filing of response by eligible assessee by (a)

acceptance of variations to Assessing Officer,

or (b) filing his objections, if any, to such

variation with the Dispute Resolution Panel

and the Assessing Officer

Within 30 days of receipt by

assessee of draft order

144C(4) Passing of assessment order under section

144C(3)


month in which acceptance is

received or period of filing

objections under section 144C(2)

expires

144C(12) Issue of directions under section 144C(5) Within 9 months from end of month

in which draft order is forwarded to

eligible assessee

144C(13) Completion of assessment on receipt of

directions issued under section 144C(5)


month in which such direction is

received

147 Reassessment where assessment has been

made under section 143(3) or 147

Within 4 years from end of relevant

assessment year [unless escapement

of income is because of assessee‘s

failure to file return under section

139 or in pursuance of notice under

section 142(1) or 148 or to disclose

fully and truly all material facts]

149(1) Issuing notice under section 148 in cases

subjected to scrutiny by way of assessment

under section 143(3) or 147 :

If the escaped income—

(i) is less than Rs. 1,00,000 Within 4 years from end of relevant

assessment year

(ii) is Rs. 1,00,000 or more Within 6 years from end of relevant

assessment year

149(3) Issuing notice under section 148 to person

who has been treated as agent of non-resident

under section 163

Within 2 years from end of relevant

assessment year

150 Issuing notice under section 148 for

assessment/reassessment/ recomputation

pursuant to any finding or direction in an

order passed :

No time limit

(i) by any authority in any proceeding under

Income-tax Act in

appeal/reference/revision

(ii) by a court in any proceeding under any

other law

153(1) Passing assessment order under section 143 or

144


assessment year in which income

was first assessable [33 months : in

case the assessment year in which

the income was first assessable is

the assessment year commencing on

the 1st day of April, 2005 or any

subsequent assessment year and

during the course of the proceeding

for the assessment of total income, a

reference under sub-section (1) of

section 92CA is made on or after 1-

6-2007 1]

153(1A) Passing assessment order under section

115WE (regular assessment) or under section

115WF (best judgment assessment) in relation

to fringe benefit tax

Within 21 months from the end of

the assessment year in which the

fringe benefits were first assessable

153(1B) Passing order of assessment or reassessment

under section 115WG (fringe benefits

escaping assessment)

Within 9 months from the end of the

financial year in which the notice of

reassessment under section 115WH

was served

153(2) Making assessment/reassessment, etc., under

section 147


financial year in which notice under

section 148 is served

[21 months : where notice is served

on or after 1-4-2006 and during

course of assessment/reassessment,

etc., reference is made to transfer

pricing officer u/s 92CA on or after

1-6-2007 1]

153(2A) Making assessment order in pursuance of Within 9 months from end of


order under section 250, 254, 263 or 264

setting aside or cancelling assessment

financial year in which order under

section 250/254 is received by Chief

Commissioner/Commissioner or

order under section 263/264 is

passed by Commissioner.

[21 months : where order under

section 254 is received by Chief


order under section 263/264 is

passed by Commissioner on or after

1-4-2006 and during course of fresh

assessment proceedings reference is

made to transfer pricing officer u/s

92CA on or after 1-6-2007 1]

153(4) Making order of assessment/reassessment,

relating to any assessment year, which stands

revived u/s 153A(2)

Within 1 year from end of month of

such revival or within period

specified in section 153 or section

153B(1), whichever is later

153B Passing assessment order under section

153A(1)

Within a period of 2 years from end

of the financial year in which the

last of the authorisations for

search/requisition under section

132/132A was executed

Note : Within 21 months (from June

1, 2006) where authorisation for

search is executed during the

financial year 2004-05 or any

subsequent year.

Where the last of the authorization

for search under section 132/132A

was executed on or after April 1,

2005 and during the course of

assessment/ reassessment

proceedings a reference is made to

TPO on or after June 1, 2007 (or the

reference was made before June 1,

2007 but order has not been made

by TPO before that date), the

assessment can be completed by the

Assessing Officer within 33 months

from the end of the assessment year.

154 Rectifying any mistake apparent from record

by income-tax authority referred to in section

116 to—

(i) amend any order passed by it

(ii) amend any intimation or deemed

intimation under section 143(1)

Within 4 years from end of financial

year in which order sought to be

amended is passed. [Where

application for rectification is made

on or after 1-6-2001 order must be

passed within 6 months from the

end of the month in which the

application is received]

155(1)/(2) Amending assessment order of partner of firm

or member of AOP/BOI for inclusion of


year in which final order is passed


correct share from firm/AOP/BOI in case of firm/AOP/BOI

155(1A) Amending assessment order of partner for

adjusting income from firm to the extent not

deductible under section 40(b)


year in which final order was passed

in case of the firm

155(4) Recomputing total income for succeeding

year(s) in respect of loss or depreciation

recomputed under section 147


year in which order under section

147 is passed

155(4A) Withdrawing investment allowance allowed

under section 32A if—

(a) asset is sold/transferred within 8 years

from end of previous year in which it was

acquired

Within 4 years from end of previous

year in which sale/transfer took

place

(b) investment allowance reserve is not

utilised for acquiring new asset within 10

years of end of previous year in which

asset was acquired

Within 4 years from end of said 10

years

(c) reserve is misutilised before expiry of 10

years of end of previous year in which

asset was acquired


year in which amount is so

misutilised

155(5A) Withdrawing development allowance under

section 33A if within 8 years land is sold or

reserve is misutilised


year in which sale took place or

reserve is so misutilised

155(5B) Recomputing total income where weighted

deduction in respect of expenditure on

scientific research under section 35(2B) is

deemed to have been wrongly allowed


year in which period allowed for

completion of scientific research

programme has expired

155(7) Recomputing distributable income and

additional tax liability under section 104


year in which final order was passed

155(7B) Recomputing deemed capital gains under

section 47A


year in which capital asset is

converted into stock-in-trade or in

which parent company/holding

company ceases to have 100 per

cent shareholding in subsidiary

company

155(10A) Amending order of assessment so as to

exclude unadjusted amount of capital gain on

long-term capital asset not chargeable under

section 54E(1)


year in which original assessment is

made

155(11) Amending order of assessment to exclude

capital gain not chargeable under section 54H


year in which compensation was

received

155(11A) Amending order of assessment so as to allow

deduction under section 10A, 10B or 10BA in

respect of income received in or brought into

India


year in which such income is

received in, or brought into, India

155(12) Amending order of assessment to allow

deduction under section 80-O


year in which income is received or

brought into India ; however, the

period from 1-4-1988 to 30-9-1991

shall be excluded

155(13) Amending order of assessment so as to allow

deduction u/s 80HHB, 80HHC, 80HHD,

80HHE, 80-O, 80R, 80RR or 80RRA in

respect of convertible foreign exchange

earnings not brought into India initially but

received or brought into India subsequently

Within 4 years from the end of the

previous year in which such income

is so received in, or brought into

India

155(14) Amending order of assessment/intimation

under section 143(1) to give credit for tax

deducted/collected not given earlier on ground

that tax deduction/collection certificate was

not filed with return

Relevant tax deduction/collection

certificate should be produced

before Assessing Officer within 2

years from the end of assessment

year in which income is assessable.

155(15) Amending order of assessment so as to

compute capital gain by taking the full value

of consideration to be the value

adopted/assessed by stamp duty authorities

(section 50C) as revised in

appeal/revision/reference


previous year in which the order

revising the value was passed in that

appeal/revision/reference


compute capital gain on compulsory

acquisition, etc., by taking the full value of

consideration to be the

compensation/consideration as reduced by any

court, tribunal or other authority


previous year in which order

reducing compensation was passed


withdraw deduction under section 80RRB

allowed earlier where by a subsequent order of

the Controller/High Court the patent is

revoked or the name of the assessee is

excluded from the patents register as patentee

in respect of that patent


previous year in which order of

Controller/High Court was passed

158BE(1) 1 Passing order under section 158BC Within 1 year from the end of the

month in which the last of the

authorisations for search u/s 132 or

for requisition u/s 132A was

executed where the search or

requisition took place before 1-1-

1997. In a case where the search or

requisition takes place on or after 1-

1-1997 the period allowed is 2 years

from the end of the relevant month.

158BE(2) 1 Completion of block assessment in the case of

other person referred to in section 158BD

One year from the end of the month

in which the notice under Chapter

XIV-B was served on such other

person where search or requisition

takes place before 1-1-1997. In a

case where the search or requisition

takes place on or after 1-1-1997 the

period allowed is 2 years from the

end of the relevant month.


158BFA(3) 1 Passing order imposing penalty under section

158BFA(2)

In a case where the assessment is

the subject-matter of an appeal to

the Commissioner (Appeals) under

section 246 or section 246A or an

appeal to the Appellate Tribunal

under section 253, after the expiry

of the financial year in which the

proceedings, in the course of which

action for the imposition of penalty

has been initiated, are completed, or

six months from the end of the

month in which the order of the

Commissioner (Appeals) or, as the

case may be, the Appellate Tribunal

is received by the Chief

Commissioner or Commissioner,

whichever period expires later.

In a case where the assessment is

the subject-matter of revision under

section 263, after the expiry of six

months from the end of the month in

which such order of revision is

passed.

In any case other than those

mentioned above, after the expiry of

the financial year in which the


action for the imposition of penalty

has been initiated, are completed, or

six months from the end of the

month in which action for

imposition of penalty is initiated,


160(1),

Explanation

1

Filing declaration by trustee(s) for converting

‗oral trust‘ into ‗trust declared by a duly

executed instrument in writing‘

Within 3 months from date of

declaration of ‗oral trust‘

172(3) Return of full amount paid or payable to non-

resident owner or charterer of ship towards

passenger fares, freight, etc., to be furnished

by master of ship to Assessing Officer

Before departure of ship from any

port in India, or within 30 days

thereafter if permitted by Assessing

Officer

172(4A) Passing order, assessing income and

determining tax payable thereon under section

172(4).


financial year in which return under

section 172(3) is furnished (by 31-

12-2008 where return is furnished

before 1-4-2007)

172(7) Submission of claim by owner or charterer of

ship that assessment be made and tax payable

by him be determined in accordance with

other provisions of the Act

Before expiry of assessment year

relevant to previous year in which

ship has departed from Indian port

176(3) Giving notice of discontinuance of

business/profession to Assessing Officer

Within 15 days of discontinuance


178(1) Giving notice of appointment as liquidator to

Assessing Officer

Within 30 days of appointment

178(2) Notifying liquidator as to amount of tax

payable by company

Within 3 months from date on

which Assessing Officer receives

notice of appointment of liquidator

184 Filing certified copy of partnership deed Along with return of income of the

firm

192 Filing return of deduction of tax from

contributions paid by the trustees of an

approved superannuation fund


financial year

33

193, 194 1,

194E, 195 1,

196A 2,

196B, 196C 1

and 196D 1

Filing prescribed statement of tax deducted at

source in the case of non-residents

On or before 15th July, 15th

October, 15th January in respect of

first three quarters of financial year

and on or before 15th June

following last quarter of financial

year in Form No. 27Q

37A

194C(7) Person responsible for paying/ crediting any

sum to contractor during course of business of

plying, hiring or leasing goods carriages to

furnish prescribed particulars to prescribed

income-tax authority

Within such time as may be

prescribed

197A(2) Delivering to Chief

Commissioner/Commissioner one copy of

declaration required to be filed under section

197A(1) or 197A(1A)

On or before 7th of month next

following month in which

declaration is furnished

29C

200(1) Paying tax deducted at source under sections

192 to 196D

Within time limit as prescribed

under rule 30

30

200(3) Preparation and filing of prescribed statements

of tax deducted for periods ending on June 30,

September 30, December 31 and March 31


October, 15th January in respect of

first three quarters of the financial

year and on or before 15th June

following the last quarter of the

financial year : [Form No. 24Q :

section 192 cases/Form No. 26Q :

other cases]

31A and

37B

200A

Intimation under section 200A(1) Within one year from end of

financial year in which statement is

filed

201(3) Order deeming a person to be an assessee in

default for failure to deduct whole or any part

of tax from a person resident in India


financial year in which the

statement is filed in a case the

statement under section 200 has

been filed, and in other cases, within

4 years from the end of the financial

year in which payment is made or

credit is given (however, such order

for financial year 2007-08 and

earlier years may be passed at any

time on or before 31-3-2011).

203 Issuance of certificate of tax deducted at See rule 31 31

file:///C:/TaxmannDataStore/DBFiles/Temp/ftn33mgitadiv2chp1.htmfile:///C:/TaxmannDataStore/DBFiles/Temp/ftn33mgitadiv2chp1.htmfile:///C:/TaxmannDataStore/DBFiles/Temp/ftn34mgitadiv2chp1.htmfile:///C:/TaxmannDataStore/DBFiles/Temp/ftn33mgitadiv2chp1.htmfile:///C:/TaxmannDataStore/DBFiles/Temp/ftn33mgitadiv2chp1.htm

source

203A Payer to apply to Assessing Officer for

allotment of Tax Deduction and Collection

Account Number

(a) Where a person has deducted

or collected tax prior to 1-10-

2004 : On or before 31-1-2005.

(b) Where a person has deducted

or deducts tax, or has collected

or collects tax, on or after 1-10-

2004: Within one month from

the end of the month in which

tax was deducted or collected,

as the case may be, or 31-1-

2005, whichever is later.

114A

203AA Issuance of TDS Certificate within the

prescribed time after the end of the financial

year beginning on or after 1-4-2008 by the

prescribed income-tax authority or person

authorised by such authority.

31st July following financial year

during which taxes were deducted

or paid (Form No. 26AS)

31AB

206(4) Rectifying defect in return filed under section

206(2)


intimation of the defect by

Assessing Officer or extended time

206A(1) Furnishing of prescribed statement in respect

of payment of interest to residents without

TDS by banking company, co-operative

society or public company referred to in

proviso to section 194A(3)(i)

On or before 31st July, 31st

October, 31st January and 30th June

following respective quarter of

financial year

31AC,

31ACA

206A(2) Furnishing of prescribed statement by persons

notified by Central Government

Within such time as may be

prescribed.

206C(3) Payment of tax collected from the respective

buyers of specified goods under section

206C(1) to the credit of Central Government

or as the Board directs

Within 7 days of collection

206C(3)

(proviso)

Preparation and filing of prescribed statements

of tax collected for periods ending on June 30,

September 30, December 31 and March 31


October, 15th January in res-pect of

first three quarters of the financial

year and on or before 30th April

following the last quarter of the

financial year (Form No. 27EQ)

31AA &

37EA

206C(5) Person collecting tax under section 206C(1)

from respective buyers to give them a

certificate in Form 27D about the amount and

rate of tax collected, etc.

Within 10 days of such

collection/debit of amount

37D

206C(5)

(2nd

proviso)

Prescribed income-tax authority or person

authorised by such authority to prepare and

deliver to buyer/licensee/lessee, a statement in

the prescribed form specifying amount of tax

collected or paid after the end of each

financial year beginning on or after 1-4-2008

31st July following the financial

year during which taxes were

collected or paid (Form No. 26AS)

31AB

206C(5D) Rectifying defect in return filed Within 15 days from the date of

intimation of the defect by

Assessing Officer or extended time

211(1) Payment of advance tax in specified

instalments :

(a) In case of corporate assessees—

(i) up to 15 per cent On or before 15th June

(ii) up to 45 per cent On or before 15th September

(iii) up to 75 per cent On or before 15th December

(iv) up to 100 per cent On or before 15th March

(b) In case of other assessees—

(i) up to 30 per cent On or before 15th September

(ii) up to 60 per cent On or before 15th December

(iii) up to 100 per cent On or before 15th March

Note : Payment of advance tax made on or

before 31st March shall be treated as advance

tax paid during financial year.

211(2) Payment of the appropriate part or whole

amount of advance tax as demanded under

section 210(3) and (4) after the due dates of

instalment

On or before each date specified in

section 211(1) falling after date of

service of demand notice

220(1) Payment of amount other than advance tax in

response to notice under section 156

Within 30 days of service of

demand notice or within date

extended on request or within

shorter period, specified in

revenue‘s interest

239(2)(c) Making claim for refund Within 1 year from last day of


239(2)(d) Making claim for refund of fringe benefit tax Within 1 year from the last day of

the rele-vant assessment year

245C(1) Application for settlement of case to

Settlement Commission

At any stage during the pendency of

a case before the Assessing Officer

245C(1E) Application for settlement before Settlement

Commission under sub-section (1) where

books of account, documents, etc., have been

seized

Not before 120 days of seizure

245D(1) Rejecting/allowing the application for

settlement

Within 7 days, notice shall be issued

to the applicant to justify admission

of his application; within 14 days

from the receipt of application, the

order pertaining to

rejecting/allowing the application

shall be made

245D(2B) Calling report by the Settlement Commission

from Commissioner


receipt of application

245D(2B) Submission of report by the Commissioner to



communication from the Settlement

Commission

245D(2C) Declaring application as invalid by the



receipt of report from the

Commissioner

245D(3) Furnishing a report by the Commissioner to

the Settlement Commission in the matters

covered by the application


receipt of communication from the


245D(4A) Passing order of settlement Within 18 months from the end of

the month in which the application

was made, if is application made on

or after 1-6-2010 (12 months if

application is made between 1-6-

2007 and 31-5-2010) (In respect of

applications referred to in section

245D(2A) to (2D) : on or before 31-

3-2008)

245D(7) Completion of proceedings where settlement

becomes void as provided in section 245D(6)


financial year in which the

settlement becomes void

245E,

proviso

Reopening of completed proceedings by

Settlement Commission if an application is

made before June 1, 2007

Reopening of proceeding is not

possible where period between end

of assessment year to which

proceeding relates and the date of

application for settlement under

section 245C exceeds 9 years

245Q(3) Withdrawing application for advance ruling Within 30 days from date of

application

245R(6) Pronouncement of advance ruling by authority Within 6 months of receipt of

application

249(2)/(3) Filing appeal to Commissioner (Appeals)—

(a) relating to tax deducted at source under

section 195(1)

Within 30 days from date of

payment of tax or within extended

time

(b) relating to any assessment/ penalty Within 30 days from date of service

of demand notice or within extended

time

(c) in any other case Within 30 days from date of

communication of order or within

extended time

250(6A) Disposal of appeal by Commissioner

(Appeals)

One year from end of financial year

in which appeal is filed (where it is

possible)

253(3)/(5) Filing appeal to Tribunal Within 60 days from date on which

order sought to be appealed against

is communicated or within extended

time [30 days in case of appeal

against order u/s 158BC(c), in

respect of search initiated u/s 132 or

requisition made u/s 132A, after 30-

6-1995, but before 1-1-1997]

253(4)/(5) Filing memo of cross-objections to Tribunal Within 30 days of receipt of notice

of filing appeal or within extended

time

254(2) Rectification of apparent mistake by Tribunal Within 4 years from the date of

impugned order

254(2A) Disposal of appeal by Appellate Tribunal filed

under sub-section (1)/(2) of section 253

4 years from end of financial year in

which appeal is filed (where it is

possible).

Where an order of stay is made in

proceedings relating to appeal filed

under section 253(1), Tribunal shall

dispose of appeal within 180 days

from date of such order or within

extended time not exceeding 365

days including original period of

180 days, failing which stay order

shall stand vacated; this will be so

even if delay in disposing of the

appeal is not attributable to assessee.

260A Filing appeal to High Court against order of

Tribunal

Within 120 days of date of

communication of order 1

263(2) Revising orders prejudicial to revenue by

Commissioner


year in which order sought to be

revised was passed

263(3) Revision by Commissioner of orders passed

pursuant to any finding or direction by

Tribunal, National Tax Tribunal, High Court

or Supreme Court

No time limit

264(2) Revision of orders by Commissioner on his

own motion (not prejudicial to assessee)

Within 1 year of order sought to be

revised

264(3) Filing revision petition to Commissioner

(order not to be prejudicial to assessee)

Within 1 year from date of

communication of order sought to

be revised or date of his knowledge

in respect thereof or within extended

time

264(6) Passing order on revision application made by

assessee on or after 1-10-1998

Within 1 year from the end of the

financial year in which application

is made

275 Imposing penalties under Chapter XXI :

(a) in a case where appeal is filed to

Commissioner (Appeals)/Tribunal

Before the expiry of financial year

in which proceedings which give

rise to penalty proceedings are

completed, or within 6 months from

end of month in which the order of

Commissioner (Appeals)/Tribunal is

received by the Chief

Commissioner/Commissioner,


However, where order is in appeal

before Commissioner (Appeals)

who passes appellate order on or

after 1-6-2003, order imposing


penalty shall be passed before

expiry of financial year in which the


action for imposition of penalty has

been initiated, are completed, or

within one year from the end of the

financial year in which the order of

the Commissioner (Appeals) is


Commissioner/ Commissioner,

whichever is later.

(b) in a case where relevant assessment or

other order is subject- matter of revision

under section 263 (or section 264)

Within 6 months from the end of

month in which revision order is

passed

(c) in any other case Before expiry of financial year in

which proceedings (in course of

which action for imposition of

penalty has been initiated) are

completed, or within 6 months from

end of month in which penal action

is initiated, whichever is later

275(1A) Imposing/enhancing/reducing/cancelling

penalty or dropping penalty proceedings on

the basis of revised assessment after giving

effect to appellate/court/revision order in a

case where relevant order is subject matter of

appeal to Commissioner

(Appeals)/Tribunal/High Court/Supreme

Court or revision and an order imposing or

enhancing or reducing or cancelling penalty or

dropping proceedings for imposition of

penalty is passed before the order of the

Commissioner (Appeals)/Tribunal/High

Court/Supreme Court is received by the Chief

Commissioner/Commissioner or order of

revision is passed

Within 6 months from end of the

month in which order of

Commissioner (Appeals)/Tribunal/

High Court/Supreme Court is



order of revision is passed

281B Provisional attachment of assets of assessee Attachment shall cease to have

effect after expiry of six months

(extendable upto 2 years) from date

of order

285B Furnishing of statement by film producers Within 30 days from end of

financial year or within 30 days

from date of completion of film,


285BA Filing of Annual Information Return On or before 31st August

immediately following financial

year in which transaction is

registered or recorded (Form No.

61A)

114E

285BA(4) Rectifying defect in return filed under section

285BA as required by prescribed income-tax

Within 1 month (or such extended

time as may be allowed on

authority application) from date of intimation

of defect

285BA(5) Furnishing of return under section 285BA in

response to notice from prescribed income-tax

authority by person who has failed to furnish

return within time

Within period not exceeding 60

days from date of service of notice.

Rule 18 of

Appellate

Tribunal

Rules

Filing of paper book At least a day before the date of

hearing of the appeal along with the

proof of service of a copy of the

same on the other side at least a

week before

Schedule II

Part I, Rule

3

Execution of certificate drawn up Not before 15 days after date of

service of notice under rule 2

Schedule II

Part I, Rule

14

Filing of application by officer holding the

sale relating to recovery from de- faulting

purchasers

Within 15 days from date of resale

Schedule II

Part II, Rule

25(5)

Attachment of growing crop which does not

admit of being stored

Not less than 20 days before it is

likely to be fit to be cut or gathered

Schedule II

Part II, Rule

40

Sale of movable property (other than property,

subject to speedy and natural decay and

property in relation to which expense of

keeping it in custody is likely to exceed its

value)

Not before 15 days from date on

which copy of sale proclamation

was affixed in TRO‘s office

Schedule II

Part III, Rule

55

Sale of immovable property without written

consent of defaulter

Not until expiry of 30 days from

date on which proclamation of sale

has been affixed on the property or

in the office of the TRO, whichever

is later

Schedule II

Part III, Rule

57

Payment of full amount of purchase money on

sale of immovable property

Within 15 days from date of sale

Schedule II

Part III, Rule

60

Application to set aside sale of immovable

property on deposit of specified sum


Schedule II

Part III, Rule

61

Application to set aside sale of immovable

property on ground of non- service of notice

or irregularity


Schedule II

Part III, Rule

62

Application for setting aside sale on ground

that defaulter had no saleable interest


Schedule II

Part III, Rule

68B

Sale of immovable property Within 4 years from end of financial

year in which order giving rise to

demand, etc., has become

conclusive. (See also Division

Three)

In case of re-sale, period shall be

extended by one year.

Schedule IV

Part A, Rule

13

Appeal by employer against order of Chief

Commissioner or Commissioner refusing to

recognise or withdrawing recognition from a

provident fund

Within 60 days of such order

Schedule IV

Part B, Rule

8



approve or withdrawing approval granted to a

superannuation fund


Schedule IV

Part C, Rule

8



approve or withdrawing approval granted to a

gratuity fund


R-10

Withholding Tax Rates

[Tax rates applicable in India under ADT Agreement]

Dividend [not being

covered by section 115-

O]

Interest Royalty Fees for

technical

service

Right

of

State

to tax

Tax rate Right

of

State

to tax

Tax rate Right

of

State

to tax

Tax rate Right

of

State

to tax

Tax

rate

Armenia Both 10% Both 10% Both 10% Both 10%

Australia Both 15% Both 15% Both [Note 3] Both [Note

3]

Austria Both 10% Both 10% Both 10% Both 10%

Bangladesh Both 10% (if at least

10% of the

capital of the

company paying

the dividend is

held by the

recipient)

Both 10% [Note 2] Both 10% No separate

provision

Belarus Both 10% if paid to a

company

holding 25%

shares;

otherwise 15%

Both 10% [Note 2] Both 15% Both 15%

Belgium Both 15% Both 15% (10% if

granted by a

bank)

Both 10% Both 10%

Botswana Both 7.5% (if

shareholder is a

company and

Both 10% Both 10% Both 10%

holds at least

25% shares in

the investee-

company);

otherwise 10%

Brazil Both 15% Both 15% [Note 2] Both 25% for use

of

trademark;

15% for

others

No separate

provision

Bulgaria Both 15% Both 15% [Note 2] Both 15% of

royalty

relating to

literary,

artistic,

scientific

works other

than films or

tapes used

for radio or

television

broadcasting;

20% in other

cases

Both 20%

Canada Both 15% if at least

10% of the

shares of the

company paying

the dividends is

held by the

recipient of

dividend; 25%

in other cases

Both 15% [Note 2] Both 10%-20% Both 10%-

20%

China Both 10% Both 10% [Note 2] Both 10% Both 10%

Cyprus Both 10% if at least

10% of the

capital of the

company paying

dividend is held

by the recipient,

15% in all other

cases


Czeck

Republic

Both 10% Both 10% [Note 2] Both 10% Both 10%

Denmark Both 15% if at least

25% of the

shares of the

company paying

the dividend is

held by the

recipient; 20%

Both 10% if loan is

granted by

bank; 15% for

others [Note 2]

Both 20% Both 20%

in other cases

Germany Both 10% Both 10% [Note 2] Both 10% Both 10%

Finland Both 15% Both 10% [Note 2] Both 15%-20%

during 1997-

2001, 15%

for

subsequent

years; 10%

for

equipment

royalty

Both Same

as in

case of

royalty

France Both 10% Both 10% Both 10% Both 10%

Greece Source 20% Source 20% Source 30% No separate

provision

Hungary Both 10% Both 10% Both 10% Both 10%

Indonesia Both 10% if at least

25% of the

shares of the

company paying

the dividend is

held by the

recipient; 15%

in other cases


provision

Iceland Both 10% Both 10% Both 10% Both 10%

Ireland Both 10%-15% Both 10% [Note 2] Both 10% Both 10%

Israel Both 10% Both 10% [Note 2] Both 10% Both 10%

Italy Both 15% if at least

10% of the

shares of the

company paying

dividend is

beneficially

owned by the

recipient

company; 20%

in other cases


Japan Both 10% Both 10% Both 10% Both 10%

Jordan Both 10% Both 10% [Note 2] Both 20% Both 20%

Kazakstan Both 10% Both 10% [Note 2] Both 10% Both 10%

Kenya Both 15% Both 15% [Note 2] Both 20% Both 17.5%

Korea Both 15% if at least

20% of the

capital of the

company paying

dividend is held

by the recipient;

20% in other

cases

Both 10% if interest

is paid to a

bank; 15% for

others [Note 2]

Both 15% Both 15%

Kuwait Both 10% Both 10% Both 10% Both 10%

Kyrgyz

Republic

Both 10% Both 10% Both 15% Both 15%

Libyan Arab

Jamahiriya

Source 20% Source 20% Source 30% No separate

provision

Luxembourg Both 10% Both 10% Both 10% Both 10%

Malaysia Both 10% Both 10% Both 10% Both 10%

Malta Both 10% if at least

25% of the

shares of the

company paying

dividend is held

by the recipient

company; 15%

in other cases


Mangolia Both 15% Both 15% [Note 2] Both 15% Both 25%

Mauritius Both 5% if at least

10% of the

capital of the

company paying

the dividend is

held by the

recipient; 15%

in other cases

Both 20% [Note 2];

Nil in some

cases

Both 15% No separate

provision

Montenegro Both 5% (in some

cases 15%)


Myanmar Both 5% Both 10% Both 10% No separate

provision

Morocco Both 10% Both 10% [Note 2] Both 10% Both 10%

Namibia Both 10% Both 10% [Note 2] Both 10% Both 10%

Nepal Both 10% if at least

10% of the

shares of the

company paying

the dividend is

held by the

recipient; 20%

in other cases


is paid to bank

15% for others

[Note 2]


provision

Netherlands Both 10% Both 10% [Note 2] Both 10% Both 10%

New Zealand Both 15% Both 10% [Note 2] Both 10% Both 10%

Norway Both 15% if at least

25% of the

capital of the

company paying

the dividend is

held by the

recipient; 20%


in other cases

Oman Both 10% if at least

10% of shares

are held by the

recipient; 12.5%

in other cases


Philippines Both 15% if at least

10% of the

shares of the

company paying

the dividend is

held by the

recipient; 20%

in other cases


is received by

a financial

institution or

insurance

company; 15%

in other cases

Both 15% if it is

payable in

pursuance of

any

collaboration

agreement

approved by

the

Government

of India

— —

Poland Both 15% Both 15% [Note 2] Both 22.5% Both 22.5%

Portuguese

Republic

Both 10% Both 10% Both 10% Both 10%

Quatar Both 5%-10% Both 10% [Note 2] Both 10% Both 10%

Romania Both 15% if at least

25% of the

shares of the

company paying

the dividend is

held by the

recipient; 20%

in other cases

Both 15% [Note 2] Both 22.5% Both 22.5%

Russian

Federation


Saudi Arabia Both 5% Both 10% Both 10% No separate

provision

Serbia Both 5% (if recipient

is company and

holds 25%

shares)

otherwise 15%


Singapore Both 10% if at least

25% of the

shares of the

company paying

the dividend is

held by the

recipient; 15%

in other cases

Both 10% if loan is

granted by a

bank/similar

institute

including an

insurance

company; 15%

for others

Both 10% Both 10%

Slovenia Both 5-15% Both 10% Both 10% Both 10%

South Africa Both 10% Both 10% [Note 2] Both 10% Both 10%

Spain Both 15% Both 15% [Note 2] Both [Note 4] Both [Note

4]

Sri Lanka Both 15% Both 10% [Note 2] Both 10% Both 10%

Sudan Both 10% Both 10% Both 10% No separate

provision

Sweden Both 10% Both 10% [Note 2] Both 10% Both 10%

Swiss Both 10% Both 10% [Note 5] Both 10% Both 10%

Syrian Arab

Republic

Both 10% (5% if

shareholder is a

company

holding at least

10% shares)

Both 10% Both 10% No separate

provision

Tajikistan Both 10% (5% if

shareholder is a

company and

holds 25%

shares)

Both 10% Both 10% No separate

provision

Tanzania Both 10% if at least

10% of the

shares of the

company paying

the dividend is

held for a period

of at least 6

months prior to

the date of

payment of the

dividend; 15%

in other cases

Both 12.5% Both 20% No separate

provision

Thailand Both 15% if dividend

is paid by an

industrial

company and at

least 10% of

capital of such

company is held

by the recipient;

20% in other

cases

Both 10% for

financial

institutions

and insurance

company; 20%

for others

[Note 2]


provision

Trinidad and

Tobago


Turkey Both 15% Both 10% if

recipient is

bank, etc.;

15% in other

cases [Note 2]

Both 15% Both 15%

Turkmenistan Both 10% Both 10% [Note 2] Both 10% Both 10%

Uganda Both 10% Both 10% Both 10% Both 10%

Ukraine Both 10%-15% Both 10% [Note 2] Both 10% Both 10%

United Arab

Emirates

Both 5% if at least

10% of the

Both 5% if loan is

granted by a


provision

capital of the

company paying

dividend is held

by the recipient;

15% in other

cases

bank/similar

financial

institute;

12.5% for

others

United Arab

Republic

Source 10% Source 20% Source 30% No separate

provision

United

Kingdom

Both 15% Both 10% if interest

is paid to a

bank; 15% for

others [Note 2]

Both [Note 3] Both [Note

3]

United States Both 15% if at least

10% of the

voting stock of

the company

paying the

dividend is held

by the recipient;

20% in other

cases

Both 10% if loan is

granted by a

bank/similar

institute

including

insurance

company; 15%

for others

Source [Note 3] Source [Note

3]

Uzbekistan Both 15% Both 15% [Note 2] Both 15% Both 15%

Vietnam Both 10% Both 10% [Note 2] Both 10% Both 10%

Zambia Both 5% if at least

25% of the

shares of the

company paying

the dividend is

held for a period

of at least 6

months prior to

the date of

payment of the

dividend; 15%

in other cases


provision

1. 10 per cent of the gross amount of the interest on loans made or guaranteed by a bank or other financial

institution carrying on bona fide banking or financing business or by an enterprise which holds directly or

indirectly at least 10 per cent of the capital of the company paying the interest.

2. Dividend/interest earned by the Government and certain institutions like the Reserve Bank of India is

exempt from taxation in the country of source.

3. Royalties and fees for technical services would be taxable in the country of source at the following rates :

a. 10 per cent in case of rental of equipment and services provided along with know-how and technical

services ;

b. any other case—

i. during first five years of the agreement—

- 15 per cent if the payer is Government or specified organisation;

- 20 per cent in other cases;

ii. subsequent years, 15% in all cases.

Income of Government and certain institutions will be exempt from taxation in the country of source.

4. Royalties and fees for technical services would be taxable in the country of source at the following rates :

a. 10 per cent in case of royalties relating to the payments for the use of, or the right to use, industrial,

commercial or scientific equipment;

b. 20 per cent in case of fees for technical services and other royalties.

5. 10 per cent of the gross amount of the interest on loans made or guaranteed by a bank or other financial

institution carrying on bona fide banking or financing business or by an enterprise which holds directly or

indirectly at least 20 per cent of the capital of the company paying the interest.

OFFENCES AND PROSECUTIONS

Section Nature of default Punishment

(rigorous

imprisonment)

Fine

(1) (2) (3) (4)

275A Contravention of order made under section 132(1) (Second

Proviso) or 132(3) in case of search and seizure

Up to 2 years No limit

275B Failure to afford necessary facility to authorised officer to

inspect books of account or other documents as required under

section 132(1)(iib)


276 Removal, concealment, transfer or delivery of property to

thwart tax recovery


276A Failure to comply with provisions of section 178(1) and (3) re :

company in liquidation

6 months to 2 years —

276AB Failure to comply with provisions of sections 269UC 1, 269UE

and 269UL re : purchase of properties by Government

6 months to 2 years No limit

276B Failure to pay to credit of Central Government (i) tax deducted

at source under Chapter XVII-B (non-cognizable offence under

section 279A), or (ii) tax payable u/s 115-O(2) or second

proviso to section 194B


276BB Failure to pay the tax collected under the provisions of section

206C


276C(1) Wilful attempt to evade tax, penalty or interest (non-cognizable

offence under section 279A)—

(a) where tax sought to be evaded exceeds Rs. 1 lakh 6 months to 7 years No limit

(b) in other cases 3 months to 3 years No limit

276C(2) Wilful attempt to evade payment of any tax, penalty or interest

(non-cognizable offence under section 279A)


276CC Wilful failure to furnish returns of fringe benefits under section

115WD/115WH or return of income under section 139(1) or in

response to notice under section 142(1)(i) or section 148 or

section 153A (non-cognizable offence under section 279A)—




276CCC Wilful failure to furnish in due time return of total income

required to be furnished by notice u/s 158BC(a)


276D Wilful failure to produce accounts and documents under section

142(1) or to comply with a notice under section 142(2A)

Up to 1 year Rs. 4 to Rs.

10 for every

day of

default

277 False statement in verification or delivery of false account, etc.

(non-cognizable offence under section 279A)



277A Falsification of books of account or document, etc., to enable

any other person to evade any tax, penalty or interest

chargeable/leviable under the Act


278 Abetment of false return, account, statement or declaration

relating to any income or fringe benefits chargeable to tax (non-

cognizable offence under section 279A)

(a) where tax, penalty or interest sought to be evaded exceeds

Rs. 1 lakh



278A Second and subsequent offences under section 276B, 276C(1),

276CC, 277 or 278


280(1) Disclosure of particulars by public servants in contravention of

section 138(2) [Prosecution to be instituted with previous

sanction of Central Government under section 280(2)]

Up to 6 months

(simple/rigorous)

No limit

Notes :

1. No person is punishable for any failure under section 276A, 276AB or 276B if he proves that there was

reasonable cause for such failure (vide section 278AA).

2. (a) Prosecution for offences under section 275A, section 275B, section 276, section 276A, section 276B,

section 276BB, section 276C, section 276CC, section 276D, section 277, section 277A and section 278

to be instituted with previous sanction of Director General/Chief Commissioner/Commissioner, except

where prosecution is at the instance of the Commissioner (Appeals) or the appropriate authority (vide

section 279).

(b) The offences under Chapter XXII can be compounded (either before or after the institution of

proceedings) by Director General or Chief Commissioner.

3. Where an offence under this Act has been committed by a pe

COMPLIANCE CALENDAR UNDER DIRECT TAX LAWS · Income : Form Nos. ITR-1 to ITR-7 (as the case may be)...

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Transcript of COMPLIANCE CALENDAR UNDER DIRECT TAX LAWS · Income : Form Nos. ITR-1 to ITR-7 (as the case may be)...