Category: Income Tax
Temporary business closure, lull and disallowance of expenses Expenses of rent staff and various other business expenses establish that those were incurred to keep its business alive they cannot be disallowed merely on the ground of temporary closure or lull in business due to recession in the market-held by …
CIT Appeals must pass speaking order even in ex-parte cases. ITAT Delhi, in a recent case remanded back the appeal of the assessee which was dismissed in limine by CIT(A) for non appearnace. Case Law Details: I.T.A .No.-2379/Del/2015 (ASSESSMENT YEAR-2010-11) Abhinav Dwivedi vs ITO Date of Judgment/Order: 04/05/2016 Brief Facts of the …
Reopening of a case u/s 147/148, a post mortem exercise of analysing materials produced subsequently will not cure an inherently defective reopening order from invalidity due to non satisfaction of jurisdictional requirement. ITAT Delhi has relied on Delhi High Court judgment and quashed the reassessment proceedings and allowed the legal issue in …
Procedure for Registration Preparation e-filing of Form 15G 15H F. No. DGIT(S)/ADG(S)-2/TDS e-filing Notification/110/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 7/2016 New Delhi, 4 May, 2016 Procedure for submission of declaration by person claiming receipt of …
Scientific Research Expenditure u/s 35 Rule 6 Amendments- Prescribed Authority, Furnishing of Reports. Form 3CK, 3CL 3CLA CBDT Notification-29/2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th April, 2016 INCOME-TAX S.O. ___(E).— In exercise of the powers …
Due date for payment of TDS on transfer of immovable property u/s 194IA extended to 30 days from existing 7 days-CBDT Notification 30/2016 CBDT Vide notification no. 30/2016 dated 29-04-2016 has amended Sub-rule (2A) of Rule 30 to permanently revise/extend the due date for Tax Deducted at Source …
Rule 31A of the Income Tax Rules, 1962 prescribes the due date for furnishing of TDS Quarterly Statement/return for; TDS on Salary u/s 192 in Form 24Q TDS on u/s 193 to 196D in Form 27Q and, TDS on all other cases in Form 26Q The due dates …
Form 12BB for furnishing evidences/particulars of deductions claimed by an employee for TDS from Salary CBDT Vide notification no. 30/2016 dated 29-04-2016 has inserted a new Rule 26C in the Income Tax Rules, 1962 and notified Form 12BB for furnishing to the employer, the evidences and particulars of …
TDS TCS Rules major amendments. Rule 26C Form 12BB, Rule 30 Section 194IA, Rule 31A, TDS Qyarterly Return Due Dates etc. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 30/2016 New Delhi, the 29th April, 2016 INCOME-TAX S.O. ___(E).— In exercise …
F.No.225/12/2016/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, dated the 2nd of May, 2016 To, Principal Chief-Commissioners of Income-tax/ Principal Directors General of Income-tax Subject: – Consistency in taxability of income/loss arising from transfer of unlisted shares under Income-tax Act, 1961-regd. …
