CBDT-SOP for implementation of Prohibition of Benami Property Transactions Act 1988 following setting up of dedicated Benami Prohibition Units (BPUs)
CBDT (Investigation Division) has issued a Standard Operating Procedure (SOP) with regard to implementation of Prohibition of Benami Property Transactions Act, 1988 [as amended by Benami Transactions (Prohibition) Amendment Act, 2016], following setting up of dedicated Benami Prohibition Units (BPUs) under each PDIT(Inv).
The SOP along with brief guidance note contains salient features of the Prohibition of Benami Property Transactions Act, 1988 (the Act) [as amended by the Benami Transactions (Prohibition) Amendment Act, 2016] to sensitise Departmental officers concerned for due implementation of the new law.
Assessee entitled to claim deprecation u/s 11(6) if corresponding capital expenditure was not claimed as application of income - ITAT…
Chartered Accountants issuing certificates in Form 15CB/Form146 are expected to exercise due care, diligence and professional judgment – CBDT CBDT…
Section 292C of the Income Tax Act 1961 indeed carries presumption of correctness of such seized documents contents but only…
PCIT directed to consider condonation of delay u/s 119(2)(b) in filing revised return to availing benefits of section 44ADA In…
Whether condition of pre-deposit prior to reference to Arbitration is arbitrary and violative of the right to sue – Division…
Frequently asked Questions on Foreign Assets of Small Taxpayers Disclosure Scheme and Rule 2026. CBDT has released a FAQs on…