Category: Income Tax
CBDT Clarifications on GAAR provisions under the Income Tax Act, 1961 Ministry of Finance Dated: 27/01/2017 Press Release Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961 The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year …
FAQ implementation of GAAR provisions under Income Tax Act 1961. General Anti-Avoidance Rule comes into force from 01/04/2017 Circular No. 7 of 2017 F.no. 500/43/2016-FT&TR-IV Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Date 27/01/2017 Clarifications on implementation of GAAR provisions under …
100 percent Section 87A tax rebate up to income of Rs. 5 lakhs for AY 2020-21 Click Here >> 87A Rebate given in earlier budgets is as under: (a) Rebate u/s 87A FY 2018-19, AY 2019-20 Click Here >> (b) Rebate under section 87A for AY 2018-19 Rebate under section 87A for …
Form 10B income accumulation amount inadvertent mistake. Income Tax authorities were misconceived in denying the claim for the difference-ITAT ABCAUS Case Law Citation: ABCAUS 1110 (2017) (01) ITAT Assessment Year : 2003-04 Date of Pronouncement: 20-01-2017 Brief Facts of the Case: The assessee was a charitable trust …
Income Tax Basic Exemption Limits AY 2018-19. 5% tax rate for income up to Rs. 500000/- Rebate u/s 87A reduced to Rs. 2500/- As forecasted by ABCAUS, the tax rate has been reduced to 5% for first income tax slab and rebate u/s 87A has been pegged at Rs. …
Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted as held by Allahabad High Court-ITAT ABCAUS Case Law Citation: ABCAUS 1109 (2017) (01) ITAT Assessment Year : 2010-11 Date of Pronouncement: 11-01-2017 Important Case Laws Cited/relied upon: CIT Vs …
Retirement funds received by partner of firm not taxable and not in the nature of goodwill also. Receiving of money on retirement from firm is exempt-ITAT ABCAUS Case Law Citation: ABCAUS 1108 (2017) (01) ITAT Assessment Year : 2004-05 Date of Pronouncement: 05-01-2017 Important Case Laws Cited/relied upon: …
Two Separate Directorate of Income Tax-Tax Payer Services-I & II to be set up by re-designating DIT (TDS) and DIT (lnfra-3) F.No. A-11011/02/2015-Ad.VII Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi, the 24th January, 2017 Order No. 01/Ad.VII/2017 Subject: …
Transfer of unlisted shares by SEBI registered Category I & II Alternative Investment Funds- Income tax treatment. fresh directions by CBDT F. No. 225/12/2016/ITA.IIGovernment of IndiaMinistry of FinanceDepartment of Revenue (CBDT) North Block, New Delhi, the 24th of January, 2017 ToAll Principal Chief-Commissioners of Income-tax/All Principal Directors General …
Guiding Principles for determination of POEM of a Company. Place of effective management u/s 6(3) after amendment. Circular No. 06 of 2017 F. No. 142/11/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 24th January, 2017 Subject: Guiding Principles for determination …
