CBDT: FORMS ARE NOW AVAILABLE FOR FILING ON INCOME TAX PORTAL

CBDT: THESE FORMS ARE NOW AVAILABLE FOR FILING ON INCOME TAX PORTAL

CBDT has released the following forms for filing on the portal:

The following forms are released:

1.Form 26A-

The section 201(1) of Income Tax Act, 1961 talks about when assesse is not treated as assesse in default. That is, when he had complied certain conditions and furnished the Form 26A

Section 201(1) of Income Tax Act states that any person liable to deduct TDS on the income distributed, makes default in the deduction and/or payment of TDS, shall be treated “assesse in default” and penalty U/s 221 of Income Tax Act shall be payable by such assesse. However, the assesse would not be deemed to be an assesse in default if –

He has furnished his return of income under section 139 of the Act;
has considered such sum for computing income in such return of income;
has paid the tax due on the income declared by him in such return of income;
and the person has furnished a form as prescribed in Rule 31ACB of Income Tax Rules to this effect from an accountant, i.e., chartered accountant.

Form 27BA-

An assessee has to furnish copy of form 27BA along with copy of Income Tax return of the parties in these cases where the assessee failed to collect tax at source at the time provided under the Act. It is not in dispute before us that later on the assessee had paid the demand of tax collected at source and interest levied thereon. The assessee is only aggrieved with the penalty levied u/s 271CA of the Act.

3. Form 10BD

Form 10BD is a statement of donations containing the details of donations received by the Charitable Organizations during the financial year.

The form is required to be filed electronically by donation receiving organizations. The form shall be signed through a digital signature of a person authorized to sign the return of the income. Alternatively, it can be filed through Electronic Verification Code (EVC).

The form is required to be filed once in a financial year. The last date for filing the form for financial year 2021-22 is 31st May, 2022. Details for filing form 10BD Every Charitable Organization is required to collect requisite details/ information from donors while receiving the donations and maintain the list of the same.

Know in detail about Form 10BD

4. Form 10BE

The reporting person shall furnish the certificate of donation the donor in Form No. 10 BE specifying the amount of donation received during financial year from such donor, beginning with the financial year 2021-2022. The certificate of donation in Form 10BE is required to be furnished to the donor on or before the 31st May, immediately following the financial year in which the donation is received.

2. ITR 2 for AY 2022-23 is now enabled for e-filing. E-filing of ITR 1 and 4 for AY 2022-23 enabled on the portal for efiling (offline and online both). Other ITRs will be available shortly.

3. While Updating UDIN, please fill exact details as generated at ICAI portal to avoid any mismatch.