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Statement made by FM in Rajya Sabha relating to MAT on FIIS
Text of the Statement made by the Finance Minister in Rajya Sabha on 07.05.2015 relating to MAT on FIIS A matter which has attracted considerable debate in the public space in recent weeks is the levy...
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Transfers & Postings Of Pr. CCIT, CCIT and DGIT
F.No.A-22011/2/2015-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ORDER NO. 60 OF 2015 Dated the 6th May, 2015 The following transfers / postings...
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Permission u/s 11(1)(c) for rendering help to victims of Nepal Earthquake
Permission u/s 11(1)(c) of the Income-tax Act, 1961 for rendering help to the victims of Nepal Earthquake The Prime Minister of India has promised that India would make all efforts to render assistanc...
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FAQ on Income From House Property
1. How is income to be computed, if a property is partly let out and partly self-occupied? Answer. It has to be treated as two residential units and income from each unit has to be computed according...
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Income Tax Changes made in Finance Bill,2015 by Lok Sabha
Finance Bill, 2015 was passed in Lok Sabha on 30.04.2015 with certain amendments via notice of amendment dated 30.04.2015. In this article I have covered some of the amendment in Provisions related to...
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Fast tracking all applications made by Voluntary Organisations/Trusts seeking approval u/s 11(1)(C) of Income Tax Act, 1961
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 28th April, 2015 Press Release The Central Board of Direct Taxes has decided to fast track al...
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Instruction to Migrate PAN to the new Ward/ circle as per new jurisdiction
DIRECTOR GENERAL OF INCOME TAX (SYSTEMS) A.R.A. Centre, Ground Floor, E-2, Jhandewalan Extension New Delhi-1100055 F. No. DGIT(S)/DIT(S)-4/PAN Mlgration/2014-15/ Dated: 10.04.2015 Dear, Subject: Compl...
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CARO 2015 Audit Report
The MCA has issued Companies (Auditor’s Report) Order,2015 vide order dated 10.04.2015. It shall come into force on the date of its publication in the Official Gazette. _____Limited Annexure to the Au...
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Gold and Silver Rates as on 31.03.2015
Gold rates 24 CARAT Rs.26,580.00 (99.50) per 10 gram 22 CARAT Rs.25,850.00 per 10 gram 20 CARAT Rs.24,150.00 per 10 gram 18 CARAT Rs.22,100.00 per 10 gram Silver Rates : Rs.37,500.00 Per Kg
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No capital Gain on Rollover/Extension of Fixed Maturity Plans (FMPs) in same scheme
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES (TPL DIVISION), NEW DELHI CIRCULAR NO. 6/2015, Dated: April 9, 2015 Sub: Capital gains in respect of units o...
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Non Resident Indian not eligible to open PPF Account
Non Resident Indians are not eligible to open an account under the Public Provident Fund (PPF) Scheme. Provided that if a resident, who subsequently becomes Non Resident Indian during the currency of...
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PPF – Limit of Rs. 1.5 Lakh is combined Limit for Individual and Minor Child
The limit of deposit of Rs. 1,00,000 in a year by an individual in his self account and accounts opened by him on behalf of his minor(s) of whom he is the guardian is combined under rule 3 (1) of the...
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Analysis of Key Features of ICDS
Analysis of Income Computation and Disclosure Standards (ICDS) CBDT vide its Notification No: 32/2015 dated 31-03-2015 notified 10 Income Computation and Disclosure Standards(ICDS) which is to be foll...
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CBDT asks CCITs to suggest locations for setting up Aayakar Sewa Kendra
DIRECTOR GENERAL OF INCOME TAX (LOGISTICS) Central Board of Direct Taxes Department of Revenue, Ministry of Finance Government of India A.R.A. Centre, Ground Floor, E-2, Jhandewalan Extension, New Del...
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CBDT notifies Income Computation and Disclosure Standards
CBDT has vide Notification No. 33/2015 notified the Income Computation and Disclosure Standards (ICDS) to be followed by all assessees, following the mercantile system of accounting, for the purposes...
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CBDT on Income accruing / arising through transfer of capital asset situate in India
Reg. Income accruing / arising through transfer of capital asset situate in India CIRCULAR No. 4 /2015 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North...
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Appointment of Auditor under Companies Act,2013
A. Duties and Liabilities of an Auditor: An auditor is ‘watch dog’ not a ‘blood hound’. Like a dog should bark and chase when something found wrong. Same like that duty of auditor is to verification a...
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DTAA signed with Czech Republic would be applicable to successor Slovak Republic
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION NO. 25/2015 New Delhi, the 23rd March, 2015 Whereas a Agreement between the Government of the Republic of India and the Gov...
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Responsibility of Standing Counsel In Communicating Court’s Decision
F. No.279/Misc/54/2015-SO(ITJ) Government of India India Ministry of finance Central Board of Direct Taxes New Delhi the 20th March, 2015 To All Pr Chief Commissioner of Income Tax Madam/Sir, Sub: Res...
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Foreign Remittances and TDS u/s 195
Some of the important case laws published during 2015 pertaining to TDS u/s 195 and/or taxability of foreign companies/non-resident entities in respect of source of income in India. Discussion and ana...