Category: Income Tax

Old notes sales after 08-11-2016 and deposited in bank later-Implications. Such sales may be rejected and added u/s 68, notes being not legal tender

Old notes sales after 08-11-2016 and deposited in bank later-Implications. Such sales may be rejected and added u/s 68, notes being not legal tender

November 9, 2016 Income Tax
Old notes sales made after 08-11-2016 and deposited in bank later-Implications. Such sales may be rejected and added u/s section 68, notes being not legal tender-CA Ashutosh Lohani Sales in Old notes made after 08-11-2016 and deposited in bank later The unprecedented and revolutionary step by the Government …
No disallowance us 40(a)(ia) as labour charges paid were salary when PF-ES deducted regularly. Salary us 17(1) includes wages and hence no TDS 194C

No disallowance us 40(a)(ia) as labour charges paid were salary when PF-ES deducted regularly. Salary us 17(1) includes wages and hence no TDS 194C

November 6, 2016 Income Tax, ITAT, Judgments
No disallowance us 40(a)(ia) as labour charges paid were salary when PF-ES deducted regularly. Salary us 17(1) includes wages and TDS 194C not required-ITAT ABCAUS Case Law Citation: 1047 (2016) (10) ITAT The Grievance: The Assessing Officer (AO) was aggrieved by the order of the CIT(A) in deleting …
Periodic vigilance inspections of income tax officers worngdoings. CBDT Chairman messages on Vigilance Awareness Week from 31-10-2016 to 05-11-2016

Periodic vigilance inspections of income tax officers worngdoings. CBDT Chairman messages on Vigilance Awareness Week from 31-10-2016 to 05-11-2016

November 4, 2016 Income Tax
Periodic vigilance inspections of income tax officers worngdoings. CBDT Chairman messages on Vigilance Awareness Week from 31-10-2016 to 05-11-2016 D.O. F. No. DGIT(Vig.)/PV/2016-17/4559                                                   …
Maximising revenue collection top priority of CBDT chairman. Delivering quality tax payer services, promoting digital tax administration among 7 priorities

Maximising revenue collection top priority of CBDT chairman. Delivering quality tax payer services, promoting digital tax administration among 7 priorities

November 3, 2016 Income Tax
Maximising revenue collection top priority of CBDT chairman. Delivering quality tax payer services, promoting digital tax administration among top 7 priorities. Shri Sushil Chandra newly appointed CBDT chairman has listed out his various priorities for the coming months. In a letter addressed to all officers/officials of the Income …
Income Tax scrutiny

Constitution of CASS Committee for FY 2016-17 to suggest modification/new rules, for effective scrutiny selection-CBDT

November 3, 2016 Income Tax
Constitution of CASS Committee for FY 2016-17 to suggest modification/new rules, new rules, changes in ITRs/forms for effective scrutiny selection-CBDT Income Tax basic scrutiny is conducted under section 143 of the Income Tax Act, 1961. Fundamentally, scrutiny is based on risk-analysis conducted through computer- assisted programme and also manually with …
Disallowances u/s 32 40aia 40A3 43B etc. Higher profit-linked Chapter VI-A deduction claim to be allowed as per Judicial view. CBDT Circular 37/2016

Disallowances u/s 32 40aia 40A3 43B etc. Higher profit-linked Chapter VI-A deduction claim to be allowed as per Judicial view. CBDT Circular 37/2016

November 2, 2016 Income Tax
Disallowances u/s 32 40aia 40A3 43B etc. Higher profit-linked Chapter VI-A deduction claim to be allowed as per Judicial view. CBDT Circular 37/2016 CIRCULAR NO. 37/2016 F.No.279 /Misc.I 140/2015I ITJ Government of India Ministry of Finance, Department of Revenue Central Board of Direct Taxes New Delhi, Dated 2nd …
Bihar Electricity Regulatory Commission Exemption us 10(46) to income from government grants, processing fee, grants and fee received

Bihar Electricity Regulatory Commission Exemption us 10(46) to income from government grants, processing fee, grants and fee received

November 2, 2016 Income Tax
Bihar Electricity Regulatory Commission Exemption us 10(46) to  income from government grants, processing fee, grants and fee received MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 101/2016 New Delhi, the 27th October, 2016 S.O. 3336(E).—In exercise of the powers conferred by clause (46) …
Shortlisted International Law Firms to represent Govt. in arbitrations/Disputes under Bilateral treaties/economic agreements etc

Shortlisted International Law Firms to represent Govt. in arbitrations/Disputes under Bilateral treaties/economic agreements etc

November 1, 2016 Income Tax
shortlisted International Law Firms to represent Govt. in arbitrations/Disputes under Bilateral treaties/economic agreements  etc. Government of India Ministry of Finance Department of Economic Affairs Investment Division North Block New Delhi Dated: 31st October, 2016 SUBJECT – Request for Proposal for engagement of international and/or domestic law fims for …
Shri Sushil Chandra takes over as the Chairman, CBDT

Shri Sushil Chandra takes over as the Chairman, CBDT

November 1, 2016 Income Tax
Sushil Chandra is the new Chairman CBDT Ministry of Finance Press Release 01-11-2016 Shri Sushil Chandra takes over as the Chairman, Central Board of Direct Taxes (CBDT). Shri Sushil Chandra, IRS (1980 Batch), today took over as the Chairman, Central Board of Direct Taxes (CBDT).He succeeds Ms Rani …