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The Finance Minister in his Budget Speech, 2015 had indicated that the rate of corporate tax will be reduced from 30% to 25% over the next four years along with corresponding phasing out of exemptions and deductions. The Government proposed to implement this decision in a phased manner. …
INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘A’ : NEW DELHI) ITA Nos.5992, 5993 & 5994/Del./2012 (ASSESSMENT YEARS : 2002-03, 2003-04 & 2004-05) The Branch Manager, vs. ITO, (TDS/Survey), Allahabad Bank vs. ITO, (TDS/Survey) Date of Order: 04-03-2016 ORDER PER A.T. VARKEY, JUDICIAL MEMBER : These are three appeals by …
INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.697/LKW/2015 Assessment year:2010-11 Mehrun Nisha (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is assessee’s appeal directed against the order passed by learned CIT(A), Bareilly dated 27/08/2015 for the assessment year 2010-11. 2. …
Under the existing provisions, penalty on account of concealment of particulars of income or furnishing inaccurate particulars of income is leviable under section 271(1)(c) of the Income-tax Act. In order to rationalize and bring objectivity, certainty and clarity in the penalty provisions, it is proposed that section 271 …
INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.01/LKW/2015 Assessment year:2006-07 Sandeep Shukla (Appellant) vs. ACIT (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is assessee’s appeal directed against the order passed by learned CIT(A)-II, Kanpur dated 11/09/2014 for the assessment year 2006-07. 2. The …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 7 th March, 2016 Sub: Setting up of a dedicated structure for delivery and monitoring of tax payer services in the Income Tax Department- regarding. Grievance redressal is a major …
In order to rationalise the time allowed for filing of returns, completion of proceedings, and realization of revenue without undue compliance burden on the taxpayer, and to promote the culture of compliance, The Budget 2016-17 has proposed to amend section 139(9) of the Income Tax Act, 1961 as …
In order to rationalise the time allowed for filing of returns, completion of proceedings, and realization of revenue without undue compliance burden on the taxpayer, and to promote the culture of compliance, The Budget 2016-17 has proposed to amend section 139(5) of the Income Tax Act, 1961 as …
Time limit for filing belated income tax returns u/s 139(4) reduced by one assessment year-Budget-2016-17. Amendment applicable from AY 2017-18 onwards Time Limit for Filing belated return for AY 2016-17 is 31-03-2018 On the subject of last date for filing a valid return of income for AY 2016-17, …
In order to rationalise the time allowed for filing of returns, completion of proceedings, and realization of revenue without undue compliance burden on the taxpayer, and to promote the culture of compliance, the Budget 2016-17 has proposed to amend existing provisions of section 139(1) of the Income Tax …
