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Addition for Unexplained Investment u/s 69 quashed as Muslims religion bars Interest income therefore cash was kept at home 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 …
Rationalisation of income tax penalty provisions in budget- 2016-17 New section 270A for under-reporting of income from AY 2017-18 Under the existing provisions, income tax 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 …
Penalty 271(1)(c) deleted for claiming deduction u/s 54 for two residential houses for ambiguity before amendment in 2014 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 …
Setting up of a dedicated structure for delivery and monitoring of tax payer services in the Income Tax Department Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes PRESS RELEASE New Delhi, 7 th March, 2016 Sub: Setting up of a dedicated structure for delivery and …
Return of income (ITR) can now be filed without pre-payment of self assessment tax and interest 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, …
Belated returns u/s 139(4) can now be revised u/s 139(5)-Budget-2016-17 amendments 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 …
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, …
ITR filing made compulsory if total income together with exempt LTCG from Equity shares exceeds basic exemption limit 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 …
Form 15G 15H for receiving Rent Payments without TDS deduction from 01-06-2016. Budget 2016-17 amendment to section 197A and 194I Enabling of Filing of Form 15G/15H for rental payments The provision of sub-section 194-I of the Income Tax Act, 1961 provides for tax deduction at source (TDS) for …
Section 12AA 80G5 charitable trust approval-rejection on defective dissolution clause in deed is beyond the scope of enquiry for grant of registration INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA I.T.A. Nos. 1456 & 1457/KOL/ 2015 RP-Sanjiv Goenka Group CSR Trust …. Appellant vs. CIT (Exemptions) …. Respondent Date of …
