CA. PRAMOD JAINFCA, FCS, FCMA, LL.B, MIMA, DISA

CA. PRAMOD JAINFCA, FCS, FCMA, LL.B, MIMA, DISA

LUNAWAT & CO.Chartered Accountants

LUNAWAT & CO.Chartered Accountants24th September 2016, Ambala24th September 2016, Ambala

Lunawat & Co.

INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016• Chapter IX of Finance Act 2016Chapter IX of Finance Act 2016Chapter IX of Finance Act 2016Chapter IX of Finance Act 2016

• From 1From 1From 1From 1stststst June 2016 to 30June 2016 to 30June 2016 to 30June 2016 to 30thththth September 2016 on undisclosed September 2016 on undisclosed September 2016 on undisclosed September 2016 on undisclosed

income / asset @:income / asset @:income / asset @:income / asset @:

• Tax Tax Tax Tax –––– 30% of income declared30% of income declared30% of income declared30% of income declared

• KrishiKrishiKrishiKrishi KalyanKalyanKalyanKalyan Cess Cess Cess Cess –––– 25% of such tax (i.e. 7.5%) & 25% of such tax (i.e. 7.5%) & 25% of such tax (i.e. 7.5%) & 25% of such tax (i.e. 7.5%) &

• Penalty Penalty Penalty Penalty –––– 25% of such tax (i.e. 7.5%).25% of such tax (i.e. 7.5%).25% of such tax (i.e. 7.5%).25% of such tax (i.e. 7.5%).

• Applicable to income of any FY Applicable to income of any FY Applicable to income of any FY Applicable to income of any FY uptouptouptoupto 2015201520152015----16 for which:16 for which:16 for which:16 for which:

• he has failed to furnish a return u/s. 139he has failed to furnish a return u/s. 139he has failed to furnish a return u/s. 139he has failed to furnish a return u/s. 139

• he has failed to disclose in ROI furnished before 1.6.2016he has failed to disclose in ROI furnished before 1.6.2016he has failed to disclose in ROI furnished before 1.6.2016he has failed to disclose in ROI furnished before 1.6.2016

• hhhhaaaassss eeeessssccccaaaappppeeeedddd aaaasssssssseeeessssssssmmmmeeeennnntttt dddduuuueeee ttttoooo oooommmmiiiissssssssiiiioooonnnn////ffffaaaaiiiilllluuuurrrreeee ttttoooo ffffuuuurrrrnnnniiiisssshhhh

return or to disclose fully & truly all material facts return or to disclose fully & truly all material facts return or to disclose fully & truly all material facts return or to disclose fully & truly all material facts

necessary for assessment or otherwise.necessary for assessment or otherwise.necessary for assessment or otherwise.necessary for assessment or otherwise.

• In case declaration in form of assets In case declaration in form of assets In case declaration in form of assets In case declaration in form of assets –––– FMV on 1FMV on 1FMV on 1FMV on 1stststst June 2016June 2016June 2016June 2016

Lunawat & Co.

INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016• Any person including non resident can declareAny person including non resident can declareAny person including non resident can declareAny person including non resident can declare

• Declarant should have PANDeclarant should have PANDeclarant should have PANDeclarant should have PAN

• In case property in name of wife but funds by husband; then In case property in name of wife but funds by husband; then In case property in name of wife but funds by husband; then In case property in name of wife but funds by husband; then

husband can declare.husband can declare.husband can declare.husband can declare.

• In case of merger / demerger / conversion; new entity can In case of merger / demerger / conversion; new entity can In case of merger / demerger / conversion; new entity can In case of merger / demerger / conversion; new entity can

declaredeclaredeclaredeclare

• Declarations made under scheme shall be exempt from Declarations made under scheme shall be exempt from Declarations made under scheme shall be exempt from Declarations made under scheme shall be exempt from

wealthwealthwealthwealth----tax in respect of assets specified in declarationtax in respect of assets specified in declarationtax in respect of assets specified in declarationtax in respect of assets specified in declaration

• No deduction of any expenditure or allowance to be allowed No deduction of any expenditure or allowance to be allowed No deduction of any expenditure or allowance to be allowed No deduction of any expenditure or allowance to be allowed

against income in respect of which declaration is made.against income in respect of which declaration is made.against income in respect of which declaration is made.against income in respect of which declaration is made.

• OOOOnnnnllllyyyy oooonnnneeee ddddeeeeccccllllaaaarrrraaaattttiiiioooonnnn ccccaaaannnn bbbbeeee mmmmaaaaddddeeee bbbbyyyy oooonnnneeee ppppeeeerrrrssssoooonnnn.... DDDDeeeeccccllllaaaarrrraaaattttiiiioooonnnn

can be revisedcan be revisedcan be revisedcan be revised

Lunawat & Co.

INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016• Taxes, surcharge & interest to be paid as under by:Taxes, surcharge & interest to be paid as under by:Taxes, surcharge & interest to be paid as under by:Taxes, surcharge & interest to be paid as under by:

• not less than 25% not less than 25% not less than 25% not less than 25% –––– 30th November 201630th November 201630th November 201630th November 2016

• not less than 50% not less than 50% not less than 50% not less than 50% –––– 31st March 201731st March 201731st March 201731st March 2017

• balance amount balance amount balance amount balance amount –––– 30th September 201730th September 201730th September 201730th September 2017

• If not paid, then If not paid, then If not paid, then If not paid, then declaration filed by him shall be deemed declaration filed by him shall be deemed declaration filed by him shall be deemed declaration filed by him shall be deemed

never to have been made under this Schemenever to have been made under this Schemenever to have been made under this Schemenever to have been made under this Scheme

• Amount paid is not refundableAmount paid is not refundableAmount paid is not refundableAmount paid is not refundable

• Would cover undisclosed income not assessed though Would cover undisclosed income not assessed though Would cover undisclosed income not assessed though Would cover undisclosed income not assessed though

assessed or in appeal for other incomes for same AYassessed or in appeal for other incomes for same AYassessed or in appeal for other incomes for same AYassessed or in appeal for other incomes for same AY

• If property disclosed. No deemed rent unless actually let If property disclosed. No deemed rent unless actually let If property disclosed. No deemed rent unless actually let If property disclosed. No deemed rent unless actually let

out to also be disclosed.out to also be disclosed.out to also be disclosed.out to also be disclosed.

• 5 FAQs; IDS Rules amended 3 times; several other 5 FAQs; IDS Rules amended 3 times; several other 5 FAQs; IDS Rules amended 3 times; several other 5 FAQs; IDS Rules amended 3 times; several other

circulars, orders and press releasescirculars, orders and press releasescirculars, orders and press releasescirculars, orders and press releases

Lunawat & Co.

IDS 2016 IDS 2016 IDS 2016 IDS 2016 ---- VALUATIONVALUATIONVALUATIONVALUATION• Asset at higher of cost or fair market value Asset at higher of cost or fair market value Asset at higher of cost or fair market value Asset at higher of cost or fair market value ----1.6.20161.6.20161.6.20161.6.2016

• If If If If asset is partly from income that has been assessed to tax asset is partly from income that has been assessed to tax asset is partly from income that has been assessed to tax asset is partly from income that has been assessed to tax

earlier earlier earlier earlier –––– to be excludedto be excludedto be excludedto be excluded

• Investment in asset in PY 2013Investment in asset in PY 2013Investment in asset in PY 2013Investment in asset in PY 2013----14 14 14 14 ---- Rs.50000/Rs.50000/Rs.50000/Rs.50000/----

• RsRsRsRs. 20000/. 20000/. 20000/. 20000/---- assessed to tax in A.Y. 2012assessed to tax in A.Y. 2012assessed to tax in A.Y. 2012assessed to tax in A.Y. 2012----13 & 13 & 13 & 13 & RsRsRsRs. 30000/. 30000/. 30000/. 30000/----

is undisclosed income of PY 2013is undisclosed income of PY 2013is undisclosed income of PY 2013is undisclosed income of PY 2013----14. 14. 14. 14.

• FMV of asset as on 1.06.2016 is Rs.150000/FMV of asset as on 1.06.2016 is Rs.150000/FMV of asset as on 1.06.2016 is Rs.150000/FMV of asset as on 1.06.2016 is Rs.150000/----

• FMV = FMV = FMV = FMV = 150000 150000 150000 150000 ---- (150000 X 20000/50000 ) = Rs.90000/(150000 X 20000/50000 ) = Rs.90000/(150000 X 20000/50000 ) = Rs.90000/(150000 X 20000/50000 ) = Rs.90000/----

• BBBBuuuulllllllliiiioooonnnn,,,, jjjjeeeewwwweeeelllllllleeeerrrryyyy,,,, pppprrrreeeecccciiiioooouuuussss ssssttttoooonnnneeee oooorrrr aaaarrrrttttiiiissssttttiiiicccc wwwwoooorrrrkkkk ttttoooo bbbbeeee vvvvaaaalllluuuueeeedddd

by registered by registered by registered by registered valuervaluervaluervaluer or at cost whichever is highor at cost whichever is highor at cost whichever is highor at cost whichever is high

• Immovable property Immovable property Immovable property Immovable property –––– valuation report by registered valuation report by registered valuation report by registered valuation report by registered valuervaluervaluervaluer oooorrrr

cost whichever is high. However, if by registered deed then cost whichever is high. However, if by registered deed then cost whichever is high. However, if by registered deed then cost whichever is high. However, if by registered deed then

stamp duty value + indexation could also be FMVstamp duty value + indexation could also be FMVstamp duty value + indexation could also be FMVstamp duty value + indexation could also be FMV

Lunawat & Co.

IDS 2016 IDS 2016 IDS 2016 IDS 2016 ---- VALUATIONVALUATIONVALUATIONVALUATION• Unquoted shares to be valued at cost of FMV whichever is Unquoted shares to be valued at cost of FMV whichever is Unquoted shares to be valued at cost of FMV whichever is Unquoted shares to be valued at cost of FMV whichever is

high. FMV=high. FMV=high. FMV=high. FMV=

• (A+B (A+B (A+B (A+B ---- L) x PV / PEL) x PV / PEL) x PV / PEL) x PV / PE

• AAAA ==== bbbbooooooookkkk vvvvaaaalllluuuueeee ooooffff aaaallllllll aaaasssssssseeeettttssss iiiinnnn BBBB////SSSS aaaassss oooonnnn 33331111....3333.... 2222000011116666 ((((ooootttthhhheeeerrrr

tttthhhhaaaannnn bbbbuuuulllllllliiiioooonnnn,,,, jjjjeeeewwwweeeelllllllleeeerrrryyyy,,,, pppprrrreeeecccciiiioooouuuussss ssssttttoooonnnneeee,,,, aaaarrrrttttiiiissssttttiiiicccc wwwwoooorrrrkkkk,,,, sssshhhhaaaarrrreeeessss,,,,

securities and immovable property) as reduced bysecurities and immovable property) as reduced bysecurities and immovable property) as reduced bysecurities and immovable property) as reduced by

• incomeincomeincomeincome----tax paid less incometax paid less incometax paid less incometax paid less income----tax refund tax refund tax refund tax refund

• ddddeeeeffffeeeerrrrrrrreeeedddd eeeexxxxppppeeeennnnddddiiiittttuuuurrrreeee wwwwhhhhiiiicccchhhh ddddooooeeeessss nnnnooootttt rrrreeeepppprrrreeeesssseeeennnntttt tttthhhheeee vvvvaaaalllluuuueeee

of any assetof any assetof any assetof any asset

• BBBB ==== FFFFMMMMVVVV ooooffff bbbbuuuulllllllliiiioooonnnn,,,, jjjjeeeewwwweeeelllllllleeeerrrryyyy,,,, pppprrrreeeecccciiiioooouuuussss ssssttttoooonnnneeee,,,, aaaarrrrttttiiiissssttttiiiicccc wwwwoooorrrrkkkk,,,,

sssshhhhaaaarrrreeeessss,,,, sssseeeeccccuuuurrrriiiittttiiiieeeessss aaaannnndddd iiiimmmmmmmmoooovvvvaaaabbbblllleeee pppprrrrooooppppeeeerrrrttttyyyy aaaassss ddddeeeetttteeeerrrrmmmmiiiinnnneeeedddd

in the Schemein the Schemein the Schemein the Scheme

Lunawat & Co.

IDS 2016 IDS 2016 IDS 2016 IDS 2016 ---- VALUATIONVALUATIONVALUATIONVALUATION• L= book value of liabilities excluding :L= book value of liabilities excluding :L= book value of liabilities excluding :L= book value of liabilities excluding :————

• paidpaidpaidpaid----up capital in respect of equity sharesup capital in respect of equity sharesup capital in respect of equity sharesup capital in respect of equity shares

• amount set apart for payment of dividendsamount set apart for payment of dividendsamount set apart for payment of dividendsamount set apart for payment of dividends

• reserves and surplus,(including loss) other than those set reserves and surplus,(including loss) other than those set reserves and surplus,(including loss) other than those set reserves and surplus,(including loss) other than those set

apart towards depreciationapart towards depreciationapart towards depreciationapart towards depreciation

• provision for taxationprovision for taxationprovision for taxationprovision for taxation

• provisions for liabilities, other than ascertained liabilitiesprovisions for liabilities, other than ascertained liabilitiesprovisions for liabilities, other than ascertained liabilitiesprovisions for liabilities, other than ascertained liabilities

• contingent liabilities other than arrears of dividends contingent liabilities other than arrears of dividends contingent liabilities other than arrears of dividends contingent liabilities other than arrears of dividends

payable in respect of cumulative preference sharespayable in respect of cumulative preference sharespayable in respect of cumulative preference sharespayable in respect of cumulative preference shares

• PE = paid up equity share capital as shown in B/S PE = paid up equity share capital as shown in B/S PE = paid up equity share capital as shown in B/S PE = paid up equity share capital as shown in B/S

• PV= paid up value of such equity sharePV= paid up value of such equity sharePV= paid up value of such equity sharePV= paid up value of such equity share

• For firm / LLP = A + B For firm / LLP = A + B For firm / LLP = A + B For firm / LLP = A + B ---- LLLL

Lunawat & Co.

NOT TO APPLY NOT TO APPLY NOT TO APPLY NOT TO APPLY

• Notice u/s 142 / 143(2) / 148 / 153A / 153C issued & Notice u/s 142 / 143(2) / 148 / 153A / 153C issued & Notice u/s 142 / 143(2) / 148 / 153A / 153C issued & Notice u/s 142 / 143(2) / 148 / 153A / 153C issued &

proceedings pending proceedings pending proceedings pending proceedings pending

• For those years only, other years allowedFor those years only, other years allowedFor those years only, other years allowedFor those years only, other years allowed

• If proceedings completed after 31.5.2016 declaration If proceedings completed after 31.5.2016 declaration If proceedings completed after 31.5.2016 declaration If proceedings completed after 31.5.2016 declaration

can be made of other than can be made of other than can be made of other than can be made of other than assessed incomeassessed incomeassessed incomeassessed income

• Search / survey conducted by 31.5.2016 & time for Search / survey conducted by 31.5.2016 & time for Search / survey conducted by 31.5.2016 & time for Search / survey conducted by 31.5.2016 & time for

issuance of notice not expiredissuance of notice not expiredissuance of notice not expiredissuance of notice not expired

• Information is received under an agreement with foreign Information is received under an agreement with foreign Information is received under an agreement with foreign Information is received under an agreement with foreign

countries regarding such incomecountries regarding such incomecountries regarding such incomecountries regarding such income

• Cases under Black Money ActCases under Black Money ActCases under Black Money ActCases under Black Money Act

• Persons notified under Special Court (Trial of offences Persons notified under Special Court (Trial of offences Persons notified under Special Court (Trial of offences Persons notified under Special Court (Trial of offences

relating to securities) Act 1992relating to securities) Act 1992relating to securities) Act 1992relating to securities) Act 1992

Lunawat & Co.

INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016• Scheme not to apply:Scheme not to apply:Scheme not to apply:Scheme not to apply:

• Cases covered under Narcotic Drugs and Psychotropic Cases covered under Narcotic Drugs and Psychotropic Cases covered under Narcotic Drugs and Psychotropic Cases covered under Narcotic Drugs and Psychotropic

Substances Act, Indian Penal Code, Prevention of Substances Act, Indian Penal Code, Prevention of Substances Act, Indian Penal Code, Prevention of Substances Act, Indian Penal Code, Prevention of

Corruption Act or Conservation of Foreign Exchange and Corruption Act or Conservation of Foreign Exchange and Corruption Act or Conservation of Foreign Exchange and Corruption Act or Conservation of Foreign Exchange and

Prevention of Smuggling Activities Act, 1974. Prevention of Smuggling Activities Act, 1974. Prevention of Smuggling Activities Act, 1974. Prevention of Smuggling Activities Act, 1974.

• IIIIffff uuuunnnnddddiiiisssscccclllloooosssseeeedddd iiiinnnnccccoooommmmeeee eeeevvvveeeerrrr ccccrrrreeeeddddiiiitttteeeedddd iiiinnnn bbbbaaaannnnkkkk aaaaccccccccoooouuuunnnntttt,,,, ddddeeeettttaaaaiiiillll ooooffff

bank also to be givenbank also to be givenbank also to be givenbank also to be given

• Declaration Declaration Declaration Declaration ---- eeeelllleeeeccccttttrrrroooonnnniiiiccccaaaallllllllyyyy uuuunnnnddddeeeerrrr DDDDSSSSCCCC iiiinnnn FFFFoooorrrrmmmm 1111 oooorrrr wwwwiiiitttthhhh PPPPrrrr.... CCCCIIIITTTT

manuallymanuallymanuallymanually

• Valuation Report not to be filedValuation Report not to be filedValuation Report not to be filedValuation Report not to be filed

• AAAAcccckkkknnnnoooowwwwlllleeeeddddggggeeeemmmmeeeennnntttt iiiinnnn FFFFoooorrrrmmmm 2222 wwwwiiiitttthhhhiiiinnnn 11115555 ddddaaaayyyyssss ooooffff eeeennnndddd ooooffff mmmmoooonnnntttthhhh

in which declaration madein which declaration madein which declaration madein which declaration made

• Proof of payment in Form 3. Proof of payment in Form 3. Proof of payment in Form 3. Proof of payment in Form 3.

Lunawat & Co.

INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016INCOME DECLARATION SCHEME 2016• If tax not paid If tax not paid If tax not paid If tax not paid –––– income to be taxed in AY 2017income to be taxed in AY 2017income to be taxed in AY 2017income to be taxed in AY 2017----18181818

• PrPrPrPr CIT or CIT to issue certificate in Form 4 CIT or CIT to issue certificate in Form 4 CIT or CIT to issue certificate in Form 4 CIT or CIT to issue certificate in Form 4

• For CG purposes cost of such asset to be FMV on 1st June For CG purposes cost of such asset to be FMV on 1st June For CG purposes cost of such asset to be FMV on 1st June For CG purposes cost of such asset to be FMV on 1st June

2016… period of holding from acquisition date; indexation 2016… period of holding from acquisition date; indexation 2016… period of holding from acquisition date; indexation 2016… period of holding from acquisition date; indexation

from 1from 1from 1from 1stststst June 2016June 2016June 2016June 2016

• If any income found ineligible to be under scheme If any income found ineligible to be under scheme If any income found ineligible to be under scheme If any income found ineligible to be under scheme –––– nnnnoooorrrrmmmmaaaallll IIIITTTT

provisions shall apply.provisions shall apply.provisions shall apply.provisions shall apply.

• IIIIffff uuuunnnnddddiiiisssscccclllloooosssseeeedddd iiiinnnnccccoooommmmeeee////aaaasssssssseeeetttt nnnnooootttt ddddeeeeccccllllaaaarrrreeeedddd,,,, tttthhhheeeennnn ssssuuuucccchhhh iiiinnnnccccoooommmmeeee ////

aaaasssssssseeeetttt sssshhhhaaaallllllll bbbbeeee ddddeeeeeeeemmmmeeeedddd ttttoooo hhhhaaaavvvveeee aaaaccccccccrrrruuuueeeedddd,,,, aaaarrrriiiisssseeeennnn oooorrrr rrrreeeecccceeeeiiiivvvveeeedddd oooorrrr

acquired, in year in which notice u/s acquired, in year in which notice u/s acquired, in year in which notice u/s acquired, in year in which notice u/s 142 / 143(2) / 148 / 142 / 143(2) / 148 / 142 / 143(2) / 148 / 142 / 143(2) / 148 /

153A / 153C 153A / 153C 153A / 153C 153A / 153C is issued & provisions of IT Act shall apply is issued & provisions of IT Act shall apply is issued & provisions of IT Act shall apply is issued & provisions of IT Act shall apply

accordinglyaccordinglyaccordinglyaccordingly

• Information in respect of declaration made is confidentialInformation in respect of declaration made is confidentialInformation in respect of declaration made is confidentialInformation in respect of declaration made is confidential

Lunawat & Co.

IDS2016 EFFECT OF VALID DECLARATIONIDS2016 EFFECT OF VALID DECLARATIONIDS2016 EFFECT OF VALID DECLARATIONIDS2016 EFFECT OF VALID DECLARATION• Undisclosed income declared shall not be included in total Undisclosed income declared shall not be included in total Undisclosed income declared shall not be included in total Undisclosed income declared shall not be included in total

income of declarant under IT Act for any AY. income of declarant under IT Act for any AY. income of declarant under IT Act for any AY. income of declarant under IT Act for any AY. Scrutiny??Scrutiny??Scrutiny??Scrutiny??

• Contents of declaration shall not be admissible in evidence Contents of declaration shall not be admissible in evidence Contents of declaration shall not be admissible in evidence Contents of declaration shall not be admissible in evidence

against declarant in any penalty / prosecution proceedings against declarant in any penalty / prosecution proceedings against declarant in any penalty / prosecution proceedings against declarant in any penalty / prosecution proceedings

under IT / WT Act…under IT / WT Act…under IT / WT Act…under IT / WT Act… What about other Laws??What about other Laws??What about other Laws??What about other Laws??

• Immunity from Immunity from Immunity from Immunity from BenamiBenamiBenamiBenami TTTTrrrraaaannnnssssaaaaccccttttiiiioooonnnnssss ((((PPPPrrrroooohhhhiiiibbbbiiiittttiiiioooonnnn)))) AAAAcccctttt,,,, sssshhhhaaaallllllll bbbbeeee

available subject to that available subject to that available subject to that available subject to that benamidarbenamidarbenamidarbenamidar shall shall shall shall trftrftrftrf ttttoooo ddddeeeeccccllllaaaarrrraaaannnntttt oooorrrr hhhhiiiissss

legal representative asset in respect of which declaration of legal representative asset in respect of which declaration of legal representative asset in respect of which declaration of legal representative asset in respect of which declaration of

undisclosed income is madeundisclosed income is madeundisclosed income is madeundisclosed income is made

• No Wealth tax of declared asset. No Wealth tax of declared asset. No Wealth tax of declared asset. No Wealth tax of declared asset.

• Will not affect finality of completed assessments. Declarant Will not affect finality of completed assessments. Declarant Will not affect finality of completed assessments. Declarant Will not affect finality of completed assessments. Declarant

will not be entitled to claim rewill not be entitled to claim rewill not be entitled to claim rewill not be entitled to claim re----aaaasssssssseeeessssssssmmmmeeeennnntttt ooooffff aaaannnnyyyy eeeeaaaarrrrlllliiiieeeerrrr yyyyeeeeaaaarrrr

oooorrrr rrrreeeevvvviiiissssiiiioooonnnn ooooffff aaaannnnyyyy oooorrrrddddeeeerrrr oooorrrr aaaannnnyyyy bbbbeeeennnneeeeffffiiiitttt oooorrrr sssseeeetttt ooooffffffff oooorrrr rrrreeeelllliiiieeeeffff iiiinnnn aaaannnnyyyy

appeal / proceedings under IT Actappeal / proceedings under IT Actappeal / proceedings under IT Actappeal / proceedings under IT Act

Lunawat & Co.

FORM 1FORM 1FORM 1FORM 1

• Details relating to assessment years for which the Details relating to assessment years for which the Details relating to assessment years for which the Details relating to assessment years for which the

declaration is being made: declaration is being made: declaration is being made: declaration is being made:

• Assessment yearAssessment yearAssessment yearAssessment year

• Whether return of income filed (Yes/No)Whether return of income filed (Yes/No)Whether return of income filed (Yes/No)Whether return of income filed (Yes/No)

• If column (2) is Yes, furnish the income returned/ If column (2) is Yes, furnish the income returned/ If column (2) is Yes, furnish the income returned/ If column (2) is Yes, furnish the income returned/

assessedassessedassessedassessed

• Assessing Officer (ward/ circle) if return filed in Assessing Officer (ward/ circle) if return filed in Assessing Officer (ward/ circle) if return filed in Assessing Officer (ward/ circle) if return filed in

paper formpaper formpaper formpaper form

Lunawat & Co.

FORM 1FORM 1FORM 1FORM 1

Lunawat & Co.

FORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXURE

Lunawat & Co.

FORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXURE

Lunawat & Co.

FORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXURE

Lunawat & Co.

FORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXUREFORM 1 ANNEXURE

CA. Pramod JainCA. Pramod JainCA. Pramod JainCA. Pramod Jain

www.lunawat.comwww.lunawat.comwww.lunawat.comwww.lunawat.compramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.com

+91 9811073867+91 9811073867+91 9811073867+91 9811073867

© 2016 CA. Pramod Jain, Lunawat & Co© 2016 CA. Pramod Jain, Lunawat & Co© 2016 CA. Pramod Jain, Lunawat & Co© 2016 CA. Pramod Jain, Lunawat & Co