Mandatory electronic filing of TDS/TCS returns requires specified forms, TAN, prescribed data structure and control totals compliance.
Mandatory electronic filing is required for returns of Tax Deduction at Source and Tax Collection at Source for the period up to 31st March, 2005 under notified schemes. Electronic returns must be accompanied by duly completed Form 27A or 27B in paper, include the deductor/collector's TAN, accurate bank deposit particulars, conform to the e-filing Administrator's data structure, and reconcile control totals for amounts paid and tax deducted/collected. Corrupted or non conforming computer media will be returned for correction and resubmission.

Extension of electronic filing due dates for TCS and TDS returns; electronic submission deadlines moved to a later statutory date.
An administrative direction under section 119(2)(a) extends the due date for electronic filing of the annual TCS return for financial year 2004-05 to 31 July 2005, and likewise extends the due date for electronic filing of quarterly TDS and TCS statements for the first quarter of 2005-06 to 31 July 2005. The due dates for filing these returns and statements in paper format remain unchanged under the relevant provisions.

Release of seized promissory notes requires deposit or irrevocable bank guarantee and a certified true copy retained.
Seized promissory notes may be released to the assessee provided the assessee deposits an equivalent amount in the P.D. Account (installments allowed) or furnishes an appropriate irrevocable bank guarantee, with cash deposit preferred, and a certified true copy of each promissory note is maintained, signed and acknowledged by the assessee in the prescribed proforma.

Decentralization of cases: transfer allowed after first appeal with retention of contested documents and prosecution safeguards.
Decentralization is permitted after the first appeal; if a second appeal is pending the Central Charge A.O. must prepare and hand over a paper book. The Central A.O. must segregate and retain documents referenced in assessment and appellate proceedings, copies of panchnama and search statements as search material, return other documents against an undertaking, and must not release seized material affecting prosecution until prosecution concludes; prosecution dossiers and witness details must be communicated to the succeeding A.O. Central authorities determine decentralization competence, and decentralization is conditional on completion of penalty and specified settlement processes.

Banking cash transaction tax imposes levy on large non-savings withdrawals and requires banks to collect and remit the tax.
The Finance Act, 2005 levies the Banking Cash Transaction Tax on specified cash withdrawals and cash received on encashment of term deposits with scheduled banks. The taxable base is the aggregate cash withdrawn or received on encashment in a single day in the name of the same person from the same account, with defined exemptions and non aggregation rules across branches; banks must collect the tax at transaction time and remit monthly aggregate collections to the Central Government, maintain primary and summarized databases, file monthly and annual returns, and comply with assessment, refund and appeal procedures.

Investigation Wing staffing parameters revised, increasing sanctioned officer posts and inspector support with immediate effect.
The order revises sanctioned strength for postings in the Investigation Wing by grade across DGIT(Inv.) regions, specifying Addl./Jt. DIT (Inv.), Deputy/Asstt. DIT (Inv.) and ITO posts, and directs a commensurate increase of two to three Inspectors per ADIT(Inv.)/DDIT(Inv.) plus supporting staff; the revised parameters take effect immediately.

Deduction under section 80HHC: assessment and recovery proceedings on reopenings to be kept in abeyance temporarily.
The Board directs assessing officers to keep in abeyance until 30th June 2005 all assessment and recovery proceedings reopened specifically to reassess deduction claims arising from sale of DEPB scrips; reopening notices under the statutory provision may be issued but subsequent proceedings are stayed. Where a case is barred by limitation on or before 30th June 2005 the stay on reassessment does not apply, though recovery proceedings in such cases remain in abeyance until that date.

Refund advice note discontinuation changes refund processing: small refunds without advice note; larger refunds routed to main bank branch.
No separate advice note will be generated for refund orders below a prescribed monetary ceiling; refunds at or above the ceiling must be accompanied by an advice note sent to the Main Branch of the designated bank, and cheques for such refunds shall be drawn on that Main Branch. Assessing Officers will retain one counterfoil of every refund cheque regardless of amount. Implementation requires issuance and distribution of new refund stationery, surrender of unused old stationery, and adherence to existing security measures.

Tax deducted at source from salaries must be deposited promptly and concessional loans valued using the prescribed interest rate method.
Tax deducted at source from salaries must be deposited to the credit of the Central Government in the prescribed manner, with same-day payment for Government deductions and payment within one week from the end of the month in other cases. Salary TDS must be remitted using the correct challan, and book adjustments must accurately reflect the amount of income-tax. Perquisite valuation for interest-free or concessional loans is based on the prescribed SBI rate and the maximum outstanding monthly balance method, subject to exemptions for small loans and specified medical treatment loans.

Charitable deduction under section 80G: DDO/employer certificate suffices for payroll donations to specified relief funds.
Donations by employees to the Prime Ministers National Relief Fund, Chief Ministers Relief Fund or Lieutenant Governors Relief Fund made through employers qualify for deduction under section 80G. Where contributions are paid as a consolidated cheque and individual certificates from the funds are not issued, the claim will be admissible on the basis of a certificate issued by the Drawing and Disbursing Officer (DDO)/employer.

Tax holiday eligibility under section 10B clarified: converted DTA units get deduction from approval year, subject to conditions.
A DTA unit that later obtains approval as a 100% EOU qualifies for the tax holiday under section 10B only from the assessment year of approval and only for the remaining portion of the ten consecutive assessment years measured from the year it began manufacturing as a DTA unit; in the approval year deduction is restricted to export profits attributable from the approval date, and disqualifications apply where the unit results from splitting/reconstruction or significant transfer of old plant and machinery, with no deduction allowable beyond the statutory terminal assessment year.