Category: Income Tax
Disallowance us 40(a)(ia) applies to amounts paid also-Supreme Court. Allahabad HC judgment holding that it applies to amount payable at the year end overruled ABCAUS Case Law Citation: ABCAUS 1227 (2017) (04) SC Date/Month of Pronouncement: May, 2017 The Controversy-Section 40(a)(ia) applies to sums paid or payable? Section …
Exercise of Option us 115BA-Rule 21AD Form 10-IB. Option by domestic company to be exercised electronically either under DSC or EVC Under the newly inserted section 115BA (by Finance Act, 2016) w.e.f 01/04/2017, every domestic company has the option of paying income tax at the rate of 25% …
Distribution of work among Members of CBDT- Order No. A-3501517/2012-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi-110 001. Date: 03.05.2017. ORDER No. 68 of 2017 In modification of the existing order and with the approval of the …
Revision us 263 set aside as CIT did not do homework. No record was called for examining the issue or application of mind by CIT – ITAT ABCAUS Case Law Citation: ABCAUS 1226 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by …
Net profit ratio of 3 percent in contract business allowed as in earlier years even lower profit rate was consistently accepted without objection by the Department – ITAT ABCAUS Case Law Citation: ABCAUS 1225 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by …
Ban on publishing Aadhaar number and demographic details along with other Personal sensitive information in contravention of Aadhaar Act, 2016 or IT Act, 2000 F. No. 402/14/2017-ITCC Government of lndia Ministry of Finance Department of Revenue Central Board of Direct Taxes *** North Block, New Delhi, Dated 25th …
Deemed Dividend-Loan to firm where partners are shareholders of the company. Advances not considered deemed dividend u/s 2(22)(e) ABCAUS Case Law Citation: ABCAUS 1224 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income Tax (Appeals) in confirming the …
Agriculture income tax – Finance Minister denies any plan of the Government to impose such tax Ministry of Finance 26-April, 2017 FM : The Central Government has no plan to impose any tax on agriculture income Following is the text of the Union Finance Minister Shri Arun Jaitley’s …
Letting out  buildings/developed space with other amenities in Industrial Park SEZ to be treated as business income Circular N o. 16/2017 F.No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 25th April, 2017 SUBJECT: Lease  rent  from  letting out …
Income Tax Rule 17CB Method of valuation of accreted income of the trust/institution for additional tax u/s 115TD(2)Â Chapter XII-EB of the Income tax Act, 1961 (‘the Act’) contains Special provisions relating to tax on accreted income of trusts or institutions registered under section 12AA of the Act. …
