TaxTMI 
TaxTMI 
Salient features of revised ITNS 150/150A forms.
X X X X Extracts X X X X
X X X X Extracts X X X X
....s the present ITNS-150/150a would not be used. Instead summary sheets will have to be prepared by the field staff on the basis of returns of income received. In the guidelines explaining the details the revised scheme annexed to the Chairman's letter quoted above it was mentioned that the present ITNS-150/150 A would be revised. The assessment order u/s.143(1) cum-tax computation form (ITNS-196) a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n of penalties/ fines composition fees for all Direct Taxes i.e. Income-tax, Wealth-tax, Gift-tax and Estate Duty. ITNS 196 : This is a combined assessment order-cum-tax computation form and is to be used where assessments are completed u/s.143(1) of the I.T.Act, 1961. 2. The revision of the forms has necessitated slight modification in the procedure for filing up the computation forms. The ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on the original computation form in the appropriate column after cancelling the earlier refund voucher. (c) As per item (vi) of paragraph 3 of the Instructions of the Board conveyed in F.No.385/85/78-IT(B) dated 8-6-1983 entries made in plus memo other Demands and other Refunds become operative for watching the collection of the revised demands of issue of necessary refund. Therefore the D&CR n....
X X X X Extracts X X X X
X X X X Extracts X X X X
....lties etc. The form ITNS 150 B has been revived and also revised so that it can be used for calculations of penalties etc. under all Direct Taxes. This form can also be used for revised calculations of penalties etc. with the revival of form ITNS-150 B the previous column in ITNS-150/150 A meant for exhibiting the amount of penalties etc. has been deleted. 3. The revised forms may be brought in....