Income Tax offices to remain open on 30th and 31st March for facilitation of filing IT returns

0 comments Friday, March 15, 2013


SECTION 119 OF THE INCOME TAX ACT, 1961 - INCOME TAX AUTHORITIES - INSTRUCTIONS TO SUBORDINATE AUTHORITIES - ORDER FOR FACILITATING FILING OF IT RETURNS BY TAX PAYERS FOR F.Y. 2012-13 ON 30th & 31st MARCH, 2013
ORDER [F. NO. 225/45/2013/ITA.II], DATED 13-3-2013
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Direct cash deposit into supplier's bank account is violation of section 40A(3)

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Madras High Court in CIT vs Venkatadhri Constructions has held that Cash payment exceeding prescribed limits u/s 40A(3) by directly depositing the amount to supplier's bank account, would be treated as cash payment and provisions of section 40A(3) would be applied in such case.
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