Daily Archive: Thursday, November 17, 2016

Penalties shall followed by prosecutions-CBDT Chairman. Action shall be taken even before filing return for huge cash deposits with unmatched past profile

Author: | Categories: Income Tax No comments
Penalties shall followed by prosecutions-CBDT Chairman.  Action shall be taken even before filing return for huge cash deposits with unmatched past profile of the assessees. CBDT Chairman Shri Sushil Chandra in his latest TV interview has hinted the impending actions that are being planned by the CBDT after 30th December,

Transactions for which Quoting PAN Mandatory. The list under Rule 114B as on date requiring PAN quoting including banking transactions.

Author: | Categories: Income Tax No comments
Transactions for which Quoting PAN Mandatory. The list under Rule 114B as on date requiring PAN quoting including banking transactions. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17th November, 2016 PRESS RELEASE Sub : Transactions in Relation to which Quoting

Adopted child cannot divest person of estate vested before his adoption by virtue of proviso to Section 12 of the Adoption Act-Supreme Court

Author: | Categories: huf, Judgments, Supreme Court No comments
Adopted child cannot divest person of estate vested before his adoption by virtue of proviso to Section 12 of the Adoption Act-Supreme Court ABCAUS Case Law Citation: 1056 (2016) (11) SC Brief Facts of the Case: The grandfather of the plaintiff-Respondent was the last holder of the suit properties,

New Rule 12E-ITO authorsied to issue notice u/s 143(2) for scrutiny. Move to create enough manpower to scrutinise income tax returns post 30-12-2016

Author: | Categories: Income Tax No comments
New Rule 12E-ITO authorsied to issue notice u/s 143(2) for scrutiny. Move to create enough manpower to scrutinise income tax returns post 30-12-2016 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 105 /2016 New Delhi, the 16th November, 2016 G.S.R. 1073(E).—In exercise of the

First ever Bilateral APA involving India and USA-USA Bilateral Competent Authority MAP/APA Meeting-Resolution of more than 100 cases under MAP

Author: | Categories: Income Tax No comments
First ever Bilateral APA involving India and USA-USA Bilateral Competent Authority MAP/APA Meeting-Resolution of more than 100 cases under MAP.  Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17th November, 2016. PRESS RELEASE Sub: India–USA Bilateral Competent Authority MAP/APA Meeting –

For marriages old bank note withdrawal limit Rs 250000 after giving proof. Cash limit will apply separately to girls and boys family

Author: | Categories: Finance Ministry No comments
For marriages old bank note withdrawal limit Rs 250000 after giving proof. Cash limit of Rs. 2,50,000/- will apply separately to girl’s and boys family  The Government in a press conference has announced further measures to provide relief to general people in view of problems of cash crunch faced

Over the Counter Old Bank Note Exchange limit reduced to Rs 2000. More relief announced for cash withdrawals

Author: | Categories: Finance Ministry No comments
Over the Counter Old Bank Note Exchange limit reduced to Rs 2000 from exiting limit of Rs. 4500/- The Government in a press conference has announced further measures to provide relief to agriculturist in view of problems of cash crunch faced by them. Agriculturist can now draw cash against
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