Income Tax

  • Income Tax

Wheel loaders Graders are Motor vehicles eligible for higher depreciation rate at 40% – ITAT

Wheel loaders, Graders are Motor vehicles and are certainly eligible for higher depreciation rate at 40% as per Appendix I…

8 years ago
  • Income Tax

Revised formats of income tax notices u/s 143(2). Three separate formats for limited scrutiny, complete scrutiny and manual selection. CBDT Notification

F. No. 225/162/2016/ITA.II Government of India Ministry of Finance Department of Revenue CBDT North Block, New Delhi, dated the 11th…

8 years ago
  • Income Tax

Income Declaration Scheme ICDS 2016 Confidentiality-No Official to disclose to any person/authority any document/records. CBDT Notification 56/2016

Income Declaration Scheme ICDS 2016 Confidentiality GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 56/2016, F.No.142/8/2016-TPL ORDER…

8 years ago
  • Income Tax

No TDS Deduction us 197A1D by IFSC Banking Units IBUs on deposits by non-resident on or after 01-04-2005. CBDT Circular 26/2016

Circular No 26/2016 F.No. 275/26/2016-IT(B) Government of India Ministry of Finance Department  of  Revenue Central Board of Direct Taxes North…

8 years ago
  • Income Tax

No TDS late deposit interest if cheque deposited in bank within due date – ITAT

No TDS late deposit interest if cheque deposited in bank within due date in view of CBDT Circular No. 261…

8 years ago
  • Income Tax

Bad debts written off in same/first assessment year eligible for deduction u/s 36(1)(vii) after amendment and in terms of CBDT Circular 12/2016

Debts written off in the same/first assessment year eligible for deduction u/s 36(1)(vii) as after the amendment w.e.f. 1st April…

8 years ago
  • Income Tax

Direct Tax Collection upto June 2016 Increased by 24.79% due to four instalments of advance tax to be paid by individuals starting June 2016

Direct Tax Collection upto June 2016 Increased by 24.79% due to four instalments of advance tax to be paid by individuals…

8 years ago
  • Income Tax

No requirement of certificate u/s 115VD under Tonnage Tax Scheme (TTS) for vessel on which slot charter operations are carried out – Supreme Court

There is no requirement of the certificate under Tonnage Tax Scheme u/s 115VD in relation to the vessel on which…

8 years ago
  • Income Tax

Deduction u/s 80IB(10)-Land ownership not a condition precedent for developing the housing project and claiming the deduction. ITAT

Deduction u/s 80IB(10)-Land ownership not a condition precedent for developing the housing project and claiming the deduction. ITAT ABCAUS Case Law…

8 years ago
  • Income Tax

ICDS applicable from FY 2016-17 AY 2017-18. Revisions are being made to Tax Audit report for ensuring ICDS compliance

ICDS applicable from FY 2016-17 AY 2017-18 Government of India Ministry of Finance Department of Revenue Central Board of Direct…

8 years ago