Monthly additional information statement of collections sent to the Board by the 30th of the following month. - Income Tax - 1212/CBDT

INSTRUCTION NO. 1212/CBDT Dated : October 16, 1978 In Boards letter No.370/50/77-IT(B) dated 22nd September, 177 instructions were issued to the CsIT that the monthly additional information statement of collections should be sent to the Board by the 30th of the following month as against the 12th of the following month which was the target date earlier. 2. It has been represented to the Board that consequent upon the change in the date of submission of the monthly additional Information statement of collections it may not be possible for the Commissioners to furnish the Budget Estimates of Income-tax, Corporation tax and Interest-tax by the prescribed dates i.e. 4-monthly Estimates by the 20th of August 6-monthly Estimates by the 20th of October and 9-monthly Estimates by 20th of January. 3. The matter was accordingly examined in Board's office after taking into account the difficulties faced by the Commissioners in the matter of submission of such Budget Estimates it has been decided that the Estimates may be furnished to the Board as per the revised schedule indicated below:- -------------------------------------------------------------- Existing Revised due date due date ---------------------------------------------------------------- 4-monthly Estimates--------------20th August 5th September 6-monthly Estimates--------------20th October 5th November ------------------------------------------------------------------ Budget Estimates of Income tax Corporation tax and Interest tax are not being submitted to the Board in time by some of the CsIT with the result the submission of estimates to the Department of Economic Affairs is considerably delayed. To avoid such situations in future steps may kindly be taken to ensure that revised dates for furnishing the Budget Estimates to the Board are rigidly adhered to. 4. At present the 9-monthly Budget Estimates are required to be submitted to the Board by the 20th January of each year. The information received from the Commissioners is used to finalise the all India Budget Estimates by the 1st week of February of each year so that they can be incorporated in the Budget Papers presented to the Parliament generally on 28th February. Looking to the last date for submission of the All India Estimates to the department of Economic Affairs it may not be possible for the Board to change the due date for submission of the 9-monthly Estimates. However, in order to reduce the work load in their preparation the Board have decided to simplify the proforma for submission of the 9-monthly estimates. The budget estimates for the current financial year and onwards may therefore be submitted in the enclosed proforma and not in form ITNS-71 positively by 21st January every year. They should be addressed to Sri. V.K. Swaminathan, Desk Officer, CBDT.