Categories: Business

E-filing Standard for remittances eased

MUMBAI: The Central Board of Direct Taxes (CBDT) has relaxed standards regarding e-filing of Types 15CA/15CB, which can be compulsory before creating external remittances.
Banks are asked to accept these types in physical format around June 30.
The taxation adds a facility will be offered in the new revenue taxation (I-T) portal site to upload these bodily forms at a later date with the intention of creation of this record identification number.
In its June 14 version, TOI’d front-paged a report relating to this challenge in addition to others confronted by taxpayers, for example India Inc, because of glitches at the recently established I-T portalsite.
See AlsoUsers stuck as glitches plague fresh I-T portalThe fresh income-tax (I-T) portals established on June 7, that guaranteed to become a gamechanger, has been plagued with glitches.
Taxpayers and tax practitioners realize they cannot log into, or should at all they really do be able to log into, they cannot perform trades –make sure it publishing aAs documented, taxpayers were not able to upload those forms on the recently established portal.
Consequently they were not able to satisfy their repayment schedules.
Many corporates needed to default on their contractual duties and confronted the possibility of substantial penalties for delayed payments.
While Type 15CA is a statement in the citizen that tax was deducted at supply against payment on the overseas receiver, Type 15CB is a certificate by a chartered accountant who the terms of the appropriate tax treaty along with I-T Act are complied with.
Even the CBDT had given advance notice the portal wouldn’t work for six days to June 6.
Taxpayers did not anticipate the new portal site to throw so many glitches, including the inability to enroll.
Ameet Patel, chairperson of the tax committee in the Bombay Chartered Accountants’ Society, said,”While it’s great that the CBDT had introduced this particular comfort for Types 15CA/15CB, the simple fact remains that it took him a week to do this measure.
In the meantime, for 2 weeks (since June 1), remittances are held for no error of taxpayers” Patel added that sadly piecemeal curative measures are being accepted.
“No action was taken with respect to this continuing I-T evaluations where admissions are being emailed to citizens to comply over a day or 2, despite the fact that it’s not possible to achieve this since the newest I-T portal site is non-functional.
We definitely expect far more from the government.” According to government resources, higher level meetings involving the finance ministry officials and also Infosys — both the technician support provider — are most probably in the coming times to take inventory of these improvements in sorting out the many issues being faced with the taxpayers.

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