Income Tax

  • Income Tax

Section 68 is about satisfaction of AO not CIT us 263 to sit on the judgment of AO. Revision order can not be made merely on audit objection basis-ITAT

Section 68 is about satisfaction of AO not CIT us 263 to sit on the judgment of Assessing Officer. Revision…

8 years ago
  • Income Tax

CBDT to share info of Private Hospitals Nursing Homes Medical Clinics, Medical Colleges/Research Institutes, Diagnostic Centre, Pathological Labs, with CAG

CBDT to share info of Private Hospitals Nursing Homes Medical Clinics, Medical Colleges/Research Institutes, Diagnostic Centre, Pathological Labs, with CAG…

8 years ago
  • Income Tax

Expenditure for obtaining right to use spectrum for telecommunication services. Allowability-actual or as per accounting method

Expenditure for obtaining right to use spectrum for telecommunication services. Allowability of upfront fee paid or deferred on actual payment…

8 years ago
  • Income Tax

Expenses on issue of shares eligible deduction us 35D. Deduction for payment of bonus to employees eligible us 36 not 43B or 40A(9)-SC

Expenses on issue of shares eligible deduction us 35D. Deduction for payment of bonus to employees eligible u/s 36 and…

8 years ago
  • Income Tax

IDS-2016 declarations-no break-up of trades-cities-states shall be released in order to ensure absolute secrecy-Finance Minister

IDS-2016 declarations-no break-up of trades-cities-states shall be released in order to ensure absolute secrecy-Finance Minister. CBDT Press Release  Government of…

8 years ago
  • Income Tax

Diary also books of accounts us 44AA2. Section does not prescribe but only talks of accounts-documents which may enable AO to adduce true income-ITAT

Diary also books of accounts us 44AA. Section does not prescribe books for business but only talks of accounts-documents which…

8 years ago
  • Income Tax

CBDT notifies 7 Andhra Pradesh districts for tax incentives u/s 32(1)(iia) and section 32AD of the Income-tax Act

CBDT notifies 7 Andhra Pradesh districts for tax incentives u/s 32(1)(iia) and section 32AD  Under the Andhra Pradesh Re-organisation Act, 2014…

8 years ago
  • Income Tax

Revised ICDS-V Tangible Fixed Assets applicable from FY 2016-17 AY 2017-18 Download CBDT Notification

Revised ICDS-V Tangible Fixed Assets applicable from FY 2016-17 AY 2017-18  CBDT has notified the revised income computation and disclosure standards…

8 years ago
  • Income Tax

IDS-2016 64275 declarations filed Rs 65250 Crore incomes declared in the form of cash and other assets. Number likely to go upwards-CBDT

IDS-2016 64275 declarations filed Rs 65250 Crore incomes declared in the form of cash and other assets. Numbers likely to…

8 years ago
  • Income Tax

Revised ICDS-X Provisions contingent liabilities assets applicable from FY 2016-17 AY 2017-18 Download CBDT Notification 87/2016

Revised ICDS-X provisions contingent liabilities assets applicable from FY 2016-17 AY 2017-18  CBDT has notified the revised income computation and disclosure standards…

8 years ago