Category: Income Tax
ICAI income exempt us 11. The institute is an educational institute and its coaching activities falls within the meaning of charitable purpose u/s 2(15). In a yet another case for AY 2010-11, ITAT following previous judgments of ITAT, High Court and Supreme Court has upheld the charitable status …
Rented Building Renovation-Repair Expenses are Current Repairs allowable u/s 30. Accumulated repairs not allowed only when assessee owns building, as a tenant cost of repairs to the premises is allowable whether they are accumulated or current this was held by ITAT Delhi in a recent judgment detailed as …
House Property Rent or Business Income-Activity not ownership is decisive. ITAT Chennai, following Supreme Court Judgment upheld bifurcation of rent received from commercial complex into rent and business income. Case Law Details: ITA No.402/Mds/2013 Assessment Year : 2003-04 DCIT vs. M/s Keyaram Hotel Pvt. Ltd ITA Nos.2215 & 2216/Mds/2015 Assessment …
Installation services integral to contract not FTS under DTAA. This was held by Delhi High Court in a recent judgment as under: Case Law: W.P (C) No. 7416/2012 Technip Singapore PTE Ltd…. Petitioner vs. Director of Income Tax & ANR …. Respondent Date of Judgment: 02/06/2016 Coram: Justice …
Income Declaration Scheme 2016 Download Form1 Java Utility Form 1 is available for e-Filing. To download Form 1, Go to Downloads -> Forms (Other than ITR) -> Form1. As per Income Declaration Scheme, 2016, the declaration of undisclosed income is to be filled in Form 1. Name Description …
PAN Card Application Revised Fee from 01/06/2016 As per NSDL notice, the PAN Card application fees have been revised after Krishi Kalyan Cess (KKC)as under: 1. For dispatch of PAN card in India:- Rs. 107 (inclusive of service tax) 2. For dispatch of PAN card outside India: – Rs. …
Equalisation Levy effective Date 01062016 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) NEW DELHI NOTIFICATION NO. 37/2016 Dated: May 27, 2016 S.O.1904(E). – In exercise of the powers conferred by sub-section (2) of section 163 of the Finance Act, 2016 (28 …
Bad debt written off claim us 361vii Circular No. 12/2016 F.No.279/Misc./140/20 15-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi , Dated 30th May, 2016 Subject:- Admissibility of claim of deduction of Bad Debt under section 36(1)(vii) read with section …
Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to sustain the addition. This was upheld by ITAT Chennai in a recent judgment as under: Case Details: ITA Nos. 300 to 303/Mds/2016 Assessment Years : 2010-11 to 2013-14 M/s. …
The Direct Tax Dispute Resolution Scheme Rules 2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 26th May, 2016 Notification No.35/2016 S.O. 1903 (E). In exercise of the powers conferred by sub-sections (1) and (2) of section 211 of the Finance Act, 2016, (28 …