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
TDS TCS Rules major amendments. Rule 26C Form 12BB, Rule 30 Section 194IA, Rule 31A, TDS Qyarterly Return Due Dates etc. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 30/2016 New Delhi, the 29th April, 2016 INCOME-TAX S.O. ___(E).— In exercise of

 

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