ayesha (mcom) (1185 Points)
20 July 20131.For those whose efiling is not compulsory( income less than 5 lacs) ,for them can we do efiling also or is manual filing better for them?
2.E filing of all taxes (income tax,dvat,tds,service tax) is compusory for all companies.
3.Depreciation rate as per companies act is applicable only for companies.for firms and sole proprietor, dep rate ia as per income tax act.
4.What is last date of filing annual return ,balance sheet profit loss ac with roc?
Ankit
(CA, CS)
(3064 Points)
Replied 20 July 2013
Dear Ayesha,
1. efiling is anytime better than manual filing.
2. yes
3. No As far as income tax goes, evey person including companies have to follow the rates of depreciation given under the income tax act, 1961
4. i suppose you are talking about income tax return. the last day is 31 july for those to whom tax audit does not apply. and 30 sept for all others
- Ankit
ayesha
(mcom)
(1185 Points)
Replied 20 July 2013
no in point 4 i m talking about roc return that means registrar of companies.
in point 3 then for what purpose is dep rate as per companies act used in taxation
Ankit
(CA, CS)
(3064 Points)
Replied 20 July 2013
Annual Return Within 60 days of AGM
Balance Sheet and P&L Within 30 days of AGM
the Companies Act rates are used for maitianing the books of accounts and presentation of accounts at agm etc.
as far as income tax goes, the rates given udner IT Act are to be followed
Gowtham
(Student CA IPC / IPCC)
(119 Points)
Replied 20 July 2013
1) Efiling is better always for quick processing
2) Yes ( But weather Tax Should applicable to those companies )
3) For Companies Accounting should be made as per companies act ( For tax liability as per income tax act 1961.) the timing difference will booked as deffered tax assest/liability)
4) For 30th september 30days from the date of filing
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