Daily Archive: Monday, May 2, 2016

Due date for payment of TDS on transfer of immovable property u/s 194IA extended to 30 days from existing 7 days-CBDT Notification 30/2016

Author: | Categories: Income Tax No comments
Due date for payment of TDS on transfer of immovable property u/s 194IA extended to 30 days from existing 7 days-CBDT Notification 30/2016 CBDT Vide notification no. 30/2016 dated 29-04-2016 has amended Sub-rule (2A) of Rule 30 to permanently revise/extend the due date for Tax Deducted at Source under

TDS TCS Quarterly Returns due date revised from 01-06-2016 for Form 24Q 26Q and 24G-CBDT Notification 30/2016

Author: | Categories: Income Tax No comments
Rule 31A of the Income Tax Rules, 1962 prescribes the due date for furnishing of TDS Quarterly Statement/return for; TDS on Salary u/s 192 in Form 24Q TDS on u/s 193 to 196D in Form 27Q and, TDS on all other cases in Form 26Q The due dates were

Excel Form 12BB for furnishing evidences/particulars of deductions claimed to employer by an employee for computation of TDS on Salary u/s 192

Author: | Categories: Income Tax, Taxation 2 Comments
Form 12BB for furnishing evidences/particulars of deductions claimed by an employee for TDS from Salary  CBDT Vide notification no. 30/2016 dated 29-04-2016 has inserted a new Rule 26C in the Income Tax Rules, 1962 and notified Form 12BB for furnishing to the employer, the evidences and particulars of various

TDS TCS Rules major amendments-CBDT Notification 30/2016. Rule 26C Form 12BB, Rule 30 Section 194IA, Rule 31A, TDS Qyarterly Return Due Dates etc.

Author: | Categories: Income Tax No comments
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th April, 2016 INCOME-TAX S.O. ___(E).— In exercise of the powers conferred by sections 192, 200 and 206C, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the

Consistency in taxability of income/loss arising from transfer of unlisted shares under Income-tax Act 1961 – CBDT F.No.225/12/2016/ITA.II dated 02/05/2016

Author: | Categories: Income Tax No comments
F.No.225/12/2016/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, dated the 2nd of May, 2016 To, Principal Chief-Commissioners of Income-tax/ Principal Directors General of Income-tax Subject: – Consistency in taxability of income/loss arising from transfer of unlisted shares under Income-tax Act, 1961-regd. Regarding

If a transaction is deemed sale or a service is a question of fact. Mere filing service tax returns or service tax payment not conclusive of the true nature

Author: | Categories: VAT No comments
Whether a transaction is a deemed sale or a service is a question of fact and would have to be determined in appropriate proceedings. This has been held by the Delhi High Court In a recent judgment. It also observed that mere fact of filing service tax returns and payment

Merging orders of re-assessment u/s 143(3)/147 and original assessment u/s 143(3) for the purpose of rectification time limit u/s 154 do not apply

Author: | Categories: Income Tax, ITAT, Judgments No comments
In a recent judgment, ITAT Kolkata has held that the re-assessment under section 143(3)/147 is independent and separate from the original assessment order passed u/s 143(3) and it can not be said that the both the orders of assessment made u/s 143(3) originally and the assessment made subsequently u/s 143(3)/147
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