Category: Income Tax
Due dates for e-filing form 15G 15H F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi. Notification No 9/2016 Dated: 09th June, 2016 Subject: Simplification of procedure for Form No. 15G & 15H –Clarifications -reg The existing provisions …
In a recent judgment, ITAT has held that the sale of shares by the assessee was not business income but short term capital gain in view of the over all facts and in particular as per CBDT lates circular in this regard. ABCAUS Case Law Citation: 937 2016 …
FAQ-TCS us 206C on Sale of Motor Vehicles CBDT Circular 22/2016. Clarifications regarding applicability of Amendment made by Finance Act 2016 Circular No 22/ 2016 F.No 370142/ 17/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated 8th, June …
Transfer-Postings in the grade of DCsIT-ACsIT UP-East Office of the Pr. Chief Commissioner of Income Tax, U.P. (East) AAYKAR Bhawan, 5 Ashok Marg, Lucknow Order No. 14 of 2016 dated 07-06-2016
Transfer-Postings in the grade of Addl-Jt CsIT UP-East Office of the Pr. Chief Commissioner of Income Tax, U.P. (East) AAYKAR Bhawan, 5 Ashok Marg, Lucknow Order No. 13 of 2016 dated 07-06-2016
Income cannot be estimated without rejection of books of account. ITAT quashed revision order passed u/s 263 enhancing net profit rate. ABCAUS Case Law Citation: 936 2016 (06) ITAT Brief Facts of the Case: The present appeal was filed by the assessee against the order passed u/s 263 …
No Penalty us 2711c for additions  made on DVO report basis as the DVO report is just an opinion or estimate. The mere fact that the assessee had not agitated additions made in the appellate proceedings does not militate against the assessee in the penalty proceedings. This was …
CBDT has notified “1125” as Cost Inflation Index (CII) for FY 2016-17. CII is used indexation of cost of acquisition and improvement for the purpose of  computation of long term capital gains under Income Tax Act, 1961. From Assessment Year 2018-19, the base year of the CII has been …
MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES Notification No. 42/2016 New Delhi, the 2nd June, 2016 INCOME-TAX S.O.1948(E).—In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby …
Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite-ITAT ABCAUS Case Law Citation: 934 2016 (06) ITAT Brief Facts of the Case: The assessee was an employee having income from salary and other sources. His return …
