In simple words. NOTIFICATION is issued under delegated authority and all the concerned person are bound to follow it. CIRCULAR means clarification issued by appropriate authority and it is bound only to department and not to assessee or judiciary.

Are CBDT circulars binding on Assessee?

It is now well-established that circulars issued by the CBEC or the CBDT do not bind assessees. Thus, the assessee has the right to challenge the correctness of a circular before a quasi-judicial authority constituted under the relevant statute.

What is difference between notification and circular?

Notifications refer to public notifications that let the general public know about laws and changes that are made by the government. Notifications are commonly issued by government to exercise the power of a legislative enactment. Circulars are more internal memos that provide clarification on certain laws or issues.

What are the difference between notice and circular?

A notice is a general bit of information for everybody. A circular is information – traditionally updates, latest news – sent out to a particular group of people. A circular usually comes out at the same time too (once a week, or once a month) whereas a notice can be posted any time.

Is there a deadline to file a 2007 tax return?

PriorTax makes it easy to take care of your 2007 taxes. 2007 tax returns cannot currently be E-Filed. You may still prepare a 2007 tax return online to file by mail. * * The IRS does not allow electronic filing of prior year tax returns, and the deadline for 2007 electronic filing has passed on October 15, 2008.

When do I have to file my tax return for 2008?

These fixed penalties are determined by an officer of the Board (Section 100). The filing date for a 2007-8 tax return issued on 6 April 2008, requiring a return of income for year ended 5 April 2008, is 31 October 2008 if a paper return is filed or 31 January 2009 if the tax return is filed electronically (Section 8 (1A)).

When to file 2007-8 self assessment tax return?

The filing date for a 2007-8 tax return issued in April 2008, filed electronically is 31 January 2009 (Section 8 (1D)). Consider a taxpayer whose self assessment for the previous year showed a net tax liability for the year of £25,000.

When is the deadline to file prior year taxes?

* The IRS does not allow electronic filing of prior year tax returns, and the deadline for 2007 electronic filing has passed on October 15, 2008.