Important Tax- Filing Changes For 2014

important tax filing rules

Just 30 days away for tax-filing dead lines.If you are among those who usually file returns only at the eleventh hour, get off to an early start this year to understand the changes. It may save you a lot of headache as the deadline nears. Beginning this year, Sars will only accept returns from registered tax practitioners, while non-registered practitioners won’t have access to Sars services for tax advisors.If you are not aware of tax-filing changes here are some important tax-filing changes to note before you rush to submit the form.

        15 key Changes of income tax return forms for this year


1. Unclaimed Credit of Taxes Deducted at Source (TDS) / Taxes Collected at Source (TCS) Brought Forward and Carried Forward

2. Direct Credit of Tax Refund

3. Computation of Income from Capital Gains

4. Additional Debtor wise Information for Bad Debts

5. Intra Head Adjustments

6. Date of Furnishing Report


7. Transaction(s) with Notified Jurisdictions
8. Unique Identification Number

9. Buy Back of Unlisted Shares by the Indian Corporate Taxpayer

10. Tax on Book Profit for Specified Corporate Taxpayer

11. Advance Pricing Agreement (APA)
12. Non-Deductible Business Expenditure

13. Deeming Business Income
14. Units in Free Trade Zones / Special Economic Zones
15. Payments to Non-Residents

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