After years of labour, the Income Tax department has finally got a new technology tool to check the menace of duplicate
RBI revises liquidity measuring rules for Basel III
The Reserve Bank has revised certain rules on measuring liquidity for Basel III norms, providing exemption to branches
Enabling of Filing of Form 15G/15H for rental payments
The provision of sub-section 194-I of the Act, inter alia, provides for tax deduction at source (TDS) for payments in t
Rationalization of Section 50 C in case sale consideration is fixed under agreement executed prior to the date of registration of immovable property
Under the existing provisions contained in Section 50C, in case of transfer of a capital asset being land or building o
Offshore funds can take advance ruling from CBDT from April 1
NEW DELHI: To provide an element of certainty to offshore fund managers, the revenue department today said such fund ma
Political, public outburst over Centre's move to slash PPF, NSS interest rates
NEW DELHI: The Centre's decision to slash the interest rates on public provident fund (PPF) from 8.7 per cent to 8.1 pe
How to update a minor's PAN card once he becomes adult
A PAN card issued in the name of a minor does not contain the minor's photograph or signature, and therefore, cannot be
OECD issues standardised e-format for info exchange on BEPS
LONDON: With India and other countries stepping up vigil against tax evasion, Paris-based OECD has prepared a standard
Taxpayers told to file correct interest information
NEW DELHI: The revenue department has asked taxpayers to file correct details of interest income for the assessment yea
I-T Department wants you to declare all interest income in your ITR
BENGALURU: In a circular released on Tuesday, the Central Board of Direct Taxes has warned the taxpayers who do not dec
Taxability of surplus on sale of shares and securities whether Capital Gains or Business Income - Instructions in order
Chidambaram offers son Karti's 'undisclosed assets' to govt for Re 1
Former finance minister P. Chidambaram has offered to give the government for Re 1 any undisclosed assets associated w
The Income Declaration Scheme, 2016
An opportunity is proposed to be provided to persons who have not paid full taxes in the past to come forward and decla
FM rolls back Budget proposal to tax EPF
Finance Minister Arun Jaitley today said the government will roll back its Budget proposal that sought to levy tax on w
Revised timeline for verification of arrear demand under section 245
F.No.312/109/2015-OT Government of India Ministry of Finance Central Board of Direct Taxes (CBDT) New Delhi, Dated 7th
CBEC revises service tax return Form ST-3
SERVICE TAX (SECOND AMENDMENT) RULES, 2016 - AMENDMENT IN FORM ST-3NOTIFICATION NO.20/2016-ST, DATED 8-3-2016In ex
Tax on distributed income to shareholder.
The existing provisions of section 115QA of the Act provide for the levy of additional Income-tax @ 20% of the distribu
Widening of Tax Base -Tax Collection at Source (TCS) on sale of vehicles; goods or services
The existing provision of section 206C of the Act, inter alia, provides that the seller shall collect tax at source at
Payment of interest on refund
Section 244A inter alia provides that an assessee is entitled to interest on refund arising out of excess payment of ad
Rationalisation of advance tax payment schedule under section 211 and charging of interest under section 234C
As per the existing provisions of sub-section (1) of section 211, the advance tax payment schedule for a company is fif
AO is bound to follow CBDT’s circular even if CBDT’s interpretation is against legislative intent
There is no question of 'harmonious construction' of a CBDT Circular issued by the CBDT. At best, it is an external aid
Rationalisation of time limit for assessment, reassessment and recomputation
The existing statutory time limit for completion of assessment proceedings is two years from the end of the assessment
Filing of return of Income
Existing provisions of sub-section (1) of section 139 provide that every person referred to therein shall file a return
No recovery from assessee where tax has been deducted but not deposited by deductor, CBDT reaffirms
SECTION 199 OF THE INCOME-TAX ACT, 1961 - DEDUCTION OF TAX AT SOURCE - CREDIT FOR TAX DEDUCTED - NON-DEPOSIT OF
Subscribe to:
Posts (Atom)