Category: Income Tax
Appeal where additions made due to audit objection deleted in adverse judgment should be filed and contested on merits only CIRCULAR NO. 5/2017 FTS No. 279157/ITJ Government of India Ministry of Finance Central Board of Direct Taxes New Delhi, Dated 23rd January, 2017 Subject: Measures for reducing litigation- Clarification …
Element of undisclosed investment in undisclosed purchases upheld. Peak credit of purchases rejected. AO to work out number of fund rotations required for achieving undisclosed purchases -ITAT ABCAUS Case Law Citation:ABCAUS 1107 (2017) (01) ITAT Assessment Year : 2010-11 The Issue for determination:The issue before the ITAT was …
Deduction us 54-Old fund used for construction of new house. It is not mandatory that only the sale consideration of house sold is to be utilized for purchasing or constructing a new residential house-ITAT ABCAUS Case Law Citation: ABCAUS 1106 (2017) (01) ITAT Assessment Year : 2009-10 Important Case …
Transaction Codes for Preparation of SFT us 285BA Rule 114E. Code SFT-001 to SFT-014 Transaction Specific Guidelines for Preparation of Statement of Financial Transactions (SFT) Transaction specific guidelines for preparation of Statement of Financial Transactions (SFT) are given in following paragraphs. SFT- 001: Purchase of bank drafts or …
Guidelines-Preparation of SFT us 285BA Rule 114E. Statement of financial transaction Form No. 61A-CBDT Notification 1/2017 General Guidelines for Preparation of Statement of Financial Transactions (SFT) Section 285BA of the Income Tax requires specified reporting persons to furnish statement of financial transaction. Rule 114E of the Income Tax …
Updated List-Transactions to be reported under Rule 114E. Updated List-Transactions to be reported under Rule 114E. Nature and value of transactions to be reported under Rule 114E. CBDT Notification 1/2017 Sl. No. Nature and value of transaction Class of person (reporting person) (1) (2) (3) 1. (a) Payment made …
Procedure-registration and submission of SFT us 285BA Rule 114E DGIT(S)-ADG(S)-2/e-filing notification/106/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 1 of 2017 New Delhi, 17th January, 2017 Procedure for registration and submission of statement of financial transactions (SFT) …
TDS not applicable on provisions if payee not identifiable to whose account the credit for such TDS is to be given u/s 203(1) under Chapter XVII-B – ITAT ABCAUS Case Law Citation: ABCAUS 1104 (2017) (01) ITAT Assessment Year : 2010-11 ; 2011-12 Important Case Laws relied upon: …
FAQ PMGKY 2016. Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 Circular No. 2 of 2017 F.No.142/33/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 18th of January, 2017 Clarifications on the Taxation …
Indirect Transfer provision-possible multiple taxation of the same income. Circular 41/2016 kept in abeyance considering representations-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17th January, 2017 PRESS RELEASE Clarification on Indirect Transfer provision under the Income Tax Act, 1961 …
