• Income Tax

Penalty 271J-Furnishing incorrect report-certificate by CA, merchant banker or registered valuer. CIT(A) may direct Rs 10000 penalty

9 years ago

Penalty 271J-Furnishing incorrect report-certificate by Chartered Accountants, merchant banker or registered valuer. CIT(A) may direct Rs. 10000 as penalty for…

  • Income Tax

Fee for delayed filing of return of income u/s 234F. Rs. 5000/- if ITR is filed within December of Assessment Year and Rs. 10000/- in other cases.

9 years ago

Fee for delayed filing of return of income u/s 234F. Rs. 5000/- if ITR is filed within December of Assessment…

  • Income Tax

Corpus donation amongst exempt entities not to be considered application of income. Amendment to section 11 and 10(23C) from AY 2018-19

9 years ago

Corpus donation amongst exempt entities not to be considered application of income. Amendment to section 11 and 10(23C) from AY…

  • Income Tax

Section 56-2-vii property received without consideration extended to all classes of assessee

9 years ago

Section 56-2-vii property received without consideration extended to all assessee including companies and firm for taxation as Income from other…

  • Income Tax

Section 50CA-Deemed FMV for transfer of unquoted shares for computing income under the head Capital gains

9 years ago

Section 50CA-Deemed FMV for transfer of unquoted shares. FMV to be deemed full value of consideration for computing income under…

  • Income Tax

Time Limit reduced-Assessment completion revised return filing. 18-12 Month for assessment and end of the relevant AY for revised returns

9 years ago

Time Limit reduced-Assessment completion revised return filing. 18-12 Month for assessment and end of the relevant AY for revised returns…

  • Income Tax

CBDT empowered to waive TDS default penalty 271C 271CA for failure to deduct or collect tax at source to reduce the genuine hardship

9 years ago

CBDT empowered to waive TDS  default penalty 271C 271CA  for failure to deduct or collect tax at source to reduce…

  • Income Tax

Interest on refund due to deductor at the rate of one-half per cent for every month or part of a month. Sub-section (1B) inserted in Section 244A

9 years ago

Interest on refund due to deductor at the rate of one-half per cent for every month or part of a…

  • Income Tax

ITR Processing within prescribed time and withholding refund. Section 143(1D)not to apply to return filed for AY 2017-18 onwards

9 years ago

ITR Processing within prescribed time and withholding refund. Section 143(1D)not to apply to return filed for AY 2017-18 onwards Budget…

  • Income Tax

TDS Rate us 194J reduced to 2 percent for call centre. Being payment to a person engaged only in the business of operation of call center

9 years ago

TDS Rate us 194J reduced to 2 percent for call centre. Being payment to a person engaged only in the…