Corporate Updates – 11-09-2015

CBDT – Income Tax:

Ministry of Finance has clarified through a press release thatNo Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited shall be granted. The audit report is also required to be filed by the said date. The Government has received representations from various stakeholders seeking extension of date for filing of returns and tax audit reports beyond 30th September 2015. The reasons cited are delay in notifying the returns and related delay in availability of forms on the e-filing website. After consideration of all facts, it has been decided that the last date for filing of returns due by 30th September 2015 will not be extended. Taxpayers are advised to file their returns well in time to avoid last minute rush.


DVAT Authorities have designed and developed a new simplified online form namely Form Delhi Sugam-2 (in short ‘DS2,) in place of Form T-2 for providing information to the Department in respect of goods purchased or received as stock transfer or received on consignment agreement from outside by the registered dealers of Delhi. All dealers are now instructed that the details of Invoices and Goods Receipt (GR) Notes in respect of all goods purchased or received as stock transfer or received on consignment agreement basis from outside Delhi shall be submitted online, in Form Delhi Sugam-2 (DS2), before physical entry of the goods in Delhi. This Notification shall come into force with effect from the 15th September, 2015 in super-session of all previous notifications on this subject.

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