Category: Income Tax
No notional income for house property held as stock-in-trade u/s 23 till the certificate of completion of construction of the property is obtained No notional income for house property held as stock-in-trade Section 23 of the Act provides for the manner of determination of annual value of house …
Cost Inflation Index base shifted from 1981 to 2001 for computation of capital gains. Amendment to section 55 from AY 2018-19 by Budget 2017-18 Shifting base year from 1981 to 2001 for computation of capital gains. The existing provisions of section 55 provide that for computation of capital …
LTCG holding period immovable property reduced to 24 months from 36 months . Section 2(42A) Amendment in Budget 2017-18 MEASURES FOR PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR Incentives for Promoting Investment in immovable property The existing provision of the Act provide for concessional rate of tax and …
TDS on Rent liability for assessee not covered under tax audit. New section 194IB for monthly rent exceeding Rs. 50000/-. TAN not required Budget 2017-18 : Deduction of tax at source in the case of certain Individuals and Hindu undivided family. The existing provisions of section 194-I of …
Budget 2017-18-Rationalization of taxation of dividend income. Provisions of section 115BBDA not to apply to domestic company and certain funds, trusts etc Budget 2017-18-Rationalization of taxation of dividend income Under the existing provisions of section 115BBDA, income by way of dividend in excess of Rs. 10 lakh is …
Order us 263 not nullity if notice not signed by CIT, when opportunity of hearing was otherwise given by the Commissioner-ITAT ABCAUS Case Law Citation: ABCAUS 1114 (2017) (02) ITAT Assessment Year : 2010-11 Brief Facts of the Case: In a recent judgment, ITAT, Kolkata dismissed a bunch …
Operation Clean Money-Online cash deposits verification under Cash Transactions 2016 > Compliance section on income tax efiling portal Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st January, 2017. Press Release Income Tax Department (ITD) launches Operation Clean Money Income …
Education per se charitable us 2(15). Registration u/s 12A can not be denied for not free of cost education to needy students-ITAT ABCAUS Case Law Citation: ABCAUS 1112 (2017) (01) ITAT Important Case Laws Cited/relied upon: American Hotel & Lodging Educational Institute vs. CBDT 301 ITR 86 …
Election Commission Applauds Income Tax Department in their role during Elections held in 2016. Election Commission of India (ECI) National Awards for 2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 27th January, 2017. Press Release Election Commission of India …
Filing adjournment application at closing office hours. CIT(A) was justified in passing ex-parte order upholding penalty u/s 272A(1)(c) – ITAT ABCAUS Case Law Citation: ABCAUS 1111 (2017) (01) ITAT Assessment Year : 2012-13 Date of Pronouncement: 19-01-2017 Important Case Laws Cited/relied upon: Smt. Rekha Rani Vs. DCIT …
