Category: Income Tax
CBDT Consolidated circular for income tax assessment of Startups-Procedure, time limit, additions u/s 56(2)(viib), demand etc. Circular No. 22/2019 Central Board of Direct TaxesMinistry of Finance North Block, New Delhi, dated the 30th August 2019 Sub: Consolidated circular for assessment of Startups – reg. In order to provide …
CBDT issues notification for Inter-changeability of PAN & Aadhaar w.e.f. 1st September 2019 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 59/2019 New Delhi, the 30th August, 2019 G.S.R. 614(E).—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax …
Threshold for TDS on cash withdrawals u/s 194N to be calculated from 1st April, 2019-Clarification. TDS to apply if Rs. 1 crore or more withdrawn upto 31st August, 2019 Ministry of Finance Press Release Dated: 30th August, 2019 Clarification on applicability of Tax Deduction at Source …
CBDT constitutes Startup Cell for redressal of grievances & mitigation of tax-related issues of entities with respect to administration of Income-tax Act 1961 F.No. 187/6/ 2019-ITA-IGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes(ITA-I Division)***** New Delhi, dated the 30th August, 2019 ORDER Subject:- …
CBDT fake order u/s 119 for extension of ITR filing due date to 30.09.2019 CBDT in its twitter handle has denied any extension and termed the order in circulation in social media as fake. It has come to the notice of CBDT that an order is being circulated …
Holding valid PAN but not filed return of income may invite income tax notice as per new ITBA software functionality of ITD for non/stop filers Income Tax Department has Rolled out a comprehensive functionality to view List of Income Tax Returns Non-Filers/Stop filers for issue of notice under …
Exercise of power by CIT u/s 263 is barred when appeal u/s 250 is pending. “record” means what is available at the time of examination by CIT ABCAUS Case Law Citation:ABCAUS 3131 (2019) (08) HC Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. Commissioner …
CBDT issues clarification on perceived differential taxation of FPIs and domestic investors Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 28th August, 2019 PRESS RELEASE CBDT issues clarification on perceived differential taxation of FPIs and domestic investors It has come to the notice …
Failure of AO to issue summons u/s 131(1) on request of assessee in order to enable him to discharge his prima facie onus is fatal to the assessment proceedings ABCAUS Case Law Citation:ABCAUS 3130 (2019) (08) ITAT Important case law relied upon by the parties: (a) Sona Electric …
Non response to unauthorised enquiry letter issued without approval not constitute material forming belief of escapement of income u/s 147 ABCAUS Case Law Citation:ABCAUS 3129 (2019) (08) ITAT Important case law relied upon by the parties:Parsuram Pottery Works Co. Ltd. vs. ITO 106 ITR 1. (SC) Amrik Singh …
