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Replacement of old notes & Income Tax Provisions
All about replacement of old notes & Income Tax Provisions Guidelines for replacement of existing Rs 500 and Rs 1000 notes with new notes and to understand the procedure of scheme and relevant provisi...
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Limit, Tax and Penalty on Cash Deposit
Myth and Truth A day after IMANDAARI KA UTSAV, A day after PRAMANIKTA KA PARV, A day after MAHAYAGNA, A day after demonetization scheme. Hopefully you all are observing and going through same atmosphe...
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Penalty on Cash deposit of Rs.500/1000 note
in Bank Account in IndiaThe ban of Rs.500/1000 note in India is creating havoc in the Indian markets. Everybody is either rushing towards banks or towards jeweler market to safeguard the black money.I...
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ICAI solicits suggestions / Views on ITR Forms
Dear Professional Colleague,Subject: Committee on ITR Forms – Soliciting views for submission of suggestionsThe CBDT has constituted a Committee to look into the complexities involved in the existing...
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FM: No Harassment of Small Depositors of Demonetised Notes
Press Information BureauGovernment of IndiaMinistry of Finance10-November-2016FM: Process of Tax Reforms will continue and pending GST issues will be resolved soon.FM: No Harassment of Small Depositor...
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200% Income tax penalty on Cash deposit in bank account
Whether cash deposited in bank account could attract penalty under Income tax Act?On-a-days lot of messages are been circulated on social media that cash deposited in a bank may attract tax and penalt...
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FAQs on Income Tax Aspects of old currency deposit in banks
4 FAQs on Income Tax Aspects of old currency deposit in banks Press Information BureauGovernment of IndiaMinistry of Finance10-November-2016 10:28 IST Replies given by Revenue Secretary Dr. Hasmukh Ad...
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Demonitization of Old Notes : Income Tax Considerations
Demonitization of Old Notes : Few Legal & Income Tax Aspects 1) In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, Rs 500 and 1000 denominations of Bank No...
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Section 115BA-Depreciation restricted to forty per cent
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 103/2016New Delhi, the 7th November, 2016Income TaxS.O. 3399(E).-In exercise of the powers conferred by sectio...
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CBDT notifies Protocol amending DTAC between India & Japan
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASENew Delhi, 9th November, 2016.Sub: Notification of Protocol amending the Double Taxation Amending C...
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Direct Tax Collections up to October, 2016 shows 10.6% increase
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASE New Delhi, 9th November, 2016.Sub: Direct Tax Collections up to October, 2016 show an increase of...
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Suggestion on CASS parameters for Returns recd in FY 2016-17
DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2, Jhandewalan Extension,New Delhi-110055Ph. No.: 0120-2770029 E-mail ID: adg2.systems@incometax.gov.inF.No. DGIT(S)/ADG(S)-2/CASS 2017-1...
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AOC-4 certification by CA, CS, CMA & Revised fees for DIN allotment & Surrender
Government of IndiaMINISTRY OF CORPORATE AFFAIRSNotificationNew Delhi, 7th, November, 2016G.S.R. ……(E).-In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with sub-section...
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CASS committee to suggest changes in Income Tax Returns / Forms/ Rules & & scrutiny criteria
DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 Phone: 0120-2770061, Email: abkkumar@incometax.gov.in F.No:. DGIT(S)/ADG(S)-2/CASS 2016-17/93...
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Preventive Vigilance as a management function in Income Tax Dept
SUSHIL CHANDRA Chairman, CBDT & Special Secretary to the Government of India GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E...
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Income Tax Dept staff requested to take Citizens Integrity Pledge
MOST URGENT F.No. DCIT(V)/PV/2016-17/4528. Directorate General of Income Tax (Vigilance) 1st Floor, Dyal Singh Public Library Building, 1, DeenDayal Upadhyay Marg. New Delhi Dated: 3rd November. 2016...
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7 top priorities of CBDT Chairman/ Income Tax Department
SUSHIL CHANDRA Chairman. CBDT & Special Secretary to the Government of India GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E...
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Chapter VIA deduction on enhanced profits after disallowance eligible
F.No.279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Circular No. 37/2016- Income Tax, Dated: November 2, 2016 Subject: Cha...
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Amendment in DTAA between India and Japan
Protocol amending the Convention between the Government of the Republic of India and the Government of Japan MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 102/2016 New Delhi, the 28th O...
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Guidance Note on Transfer Pricing Report U/s. 92E of Income Tax Act, 1961
ICAI has released the 5th Edition (November 2016) of the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). This Guidance Note was previously revised in February...