Category: Income Tax
Section 68 is about satisfaction of AO not CIT us 263 to sit on the judgment of Assessing Officer. Revision order can not be made merely on audit objection basis-ITAT ABCAUS Case Law Citation: 1030 (2016) (10) ITAT Important case Laws cited: CIT v. Sohana Woollen Mills – …
CBDT to share info of Private Hospitals Nursing Homes Medical Clinics, Medical Colleges/Research Institutes, Diagnostic Centre, Pathological Labs, with CAG DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 F.No. System/ITBA/CAG/DGA(CR)/16-17/172-7830 …
Expenditure for obtaining right to use spectrum for telecommunication services. Allowability of upfront fee paid or deferred on actual payment basis or as per accounting method employed. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 89/2016 New Delhi, the 4th …
Expenses on issue of shares eligible deduction us 35D. Deduction for payment of bonus to employees eligible u/s 36 and section 43B or 40A(9) does not come into play-Supreme Court ABCAUS Case Law Citation: 1029 (2016) (10) SC Assessment Year: 2001-02 Questions of Law framed: Whether expenditure incurred on …
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 India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 3rd October, 2016. Press Release Sub: CBDT committed to Strict Confidentiality under Income Declaration …
Diary also books of accounts us 44AA. Section does not prescribe books for business but only talks of accounts-documents which may enable AO to adduce true income, penalty u/s 271A deleted by ITAT ABCAUS Case Law Citation: 1028 (2016) (10) ITAT Assessment Year: 2009-10 and 2010-11 Brief Facts …
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 the Government of India is extending special assistance to four districts of Rayalseema and three districts of North coastal Region of Andhra Pradesh. To further boost the industrial …
Revised ICDS-V Tangible Fixed Assets applicable from FY 2016-17 AY 2017-18 CBDT has notified the revised income computation and disclosure standards (ICDS) 2016 I to X Who is required to follow ICDS? These ICDS are to be followed by all the assessees except: (i) individual or a Hindu undivided …
IDS-2016 64275 declarations filed Rs 65250 Crore incomes declared in the form of cash and other assets. Numbers likely to go upwards-CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 1st October, 2016. Press Release Sub: Income Declaration Scheme 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 (ICDS) 2016 I to X Who is required to follow ICDS? These ICDS are to be followed by all the assessees except: (i) individual or a Hindu undivided …
