Salient features of revised ITNS 150/150A forms. - Income Tax - 1610/CBDT

INSTRUCTION NO. 1610/CBDT Dated: April 2, 1985 In the Chairman's D.O. in F.No.24/RSP/R A/1980/2268 dated 3rd/13th August 1984 to all the Commissioners and DIs it was stated that for the purpose of All India Income-tax Statistics 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) also requires modification on account of the simplification of procedure for completion of assessments in small income cases introduced in 1984. Accordingly the forms have been simplified. The ITNS-150/150 A will henceforth be called income-tax computation form. Their salient features are explained below:- ITNS 150 : This form is to be used where non-company assessments are completed u/s.143(3) of the I.T. Act, 1961 as also when original orders are revised for carrying out rectification, giving effect to appellate orders etc. ITNS 150 A : This form is to be used where company assessments are completed as also when original orders in company cases are revised for carrying out rectification giving effect to appellate orders etc. ITNS 150 B : The form is to be used only for calculation 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 changes in the procedure are as under :- (a). It is not necessary to send the revised forms to the statistician. Two copies of the forms may be made one for the assessee and the other for the office record. (b). Whenever any revision in computation results in new refund or enhancement in the amount of refund already granted, the particulars of the fresh refund voucher issued should be noted in the appropriate column in the original computation form and remarks about it should be given in the revised computation form by a noting "For refund, see the original computation form dated.......". Similarly where a refund voucher is to be cancelled on account of the fact that the time period of its encashment has expired the particulars of the fresh refund voucher issued should also be noted 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 number to be mentioned in the revised computation forms will be the number entered in the parts mentioned above. (d) The computation forms viz.ITNS-150, 150 A can be used both for the original as well as for revised calculations arising out of re-opening of assessments carrying out rectifications, giving effect to appellate orders etc. When these forms are used for revised calculations, suitable indication should be given at the top of the forms. (e) Though the form ITNS-150 B had been prescribed for making calculation of penalities etc. under the I.T.Act, it was in fact not being utilised for the purpose. Instead of using the ITNS-150 B for calculations of penalties, fines composition fees etc., one column in forms ITNS-150 150 A was so far being used for showing the amount of penalties 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 into use for all assessments/rectifications to be completed after 31-3-1985. Efforts will be made to get the revised forms printed through DI (P P). In case there is any delay in obtaining supply of the forms from that Directorate, suitable arrangement for local printing of the forms may be made by the Commissioners of Income-tax.