Category: Income Tax
Land sold by plotting held to be business income not capital gain as the sale was completed within a short period of few months and space was left for streets. In a recent judgment, this was upheld by ITAT Amritsar. Case Law Details: I.T.A No.478(Asr)/2014 Assessment Year: 2010-11 …
Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities. Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities. Case Law …
F No 370149/89/2016-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) Dated: the 27th May, 2016 PRESS RELEASE Subject: Implementation of General Anti Avoidance Rule Provisions-Issuance of Guidance Note-Comments of the Stakeholders-reg. The provisions of General Anti Avoidance Rule (GAAR) are contained …
No Mandatory 12AA registration cancellation for business/trade turnover limit cut-off as per proviso u/s 2(15) if no change in  nature of activities Circular No. 21/2016 F No. 197/17/2016-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 27th May, 2016 …
Clarifications for implementation of FATCA and CRS F.No. 504/632/12015-FT&TR-III(1) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Foreign Tax & Tax Research Division) Dated 26th May, 2016 Subiect: Clarifications for implementation of FATCA and CRS-reg Pursuant to the consultations held with Financial …
EQUALISATION LEVY RULES 2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES NOTIFICATION NO. 38/2016 New Delhi, 27th May, 2016 S.O. 1905(E) – In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 179 of the Finance Act, 2016 …
Time limit for filing CIT e-appeals extension to 15-5-2016 for appeals which were  due for filing on 15-05-2016 Circular No. 20/2016 F No. 279/Misc/M-54/2016/ITJ Government of India Ministry of Finance Department of revenue Central Board of Direct Taxes New Delhi, dated 26th May, 2016 Subject: E-filing of appeals: …
Tax Credits 26AS-TDS on Immovable Property Sale us 194IA. How the information will appear for TDS us 194I 26QB Statement in 26AS of buyer, Seller CPC (TDS) Advisory for Tax Credits in 26AS with respect to Tax Deducted on Sale of Immovable Property (26QB Statement) As per section …
Income Declaration Scheme 2016 Jurisdictional Commissioner Pr CIT. Declaration to be made to CIT exercising jurisdiction over the declarant u/s 120Â Circular No.19/2016 F.No I87/10/2016.ITA.I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Income-Tax) New Delhi, the 25th May,2016 Income Declaration Scheme, …
e-verification EVC Appeal Form 35 online procedure and step-wise User Manual CBDT vide notification no.05/2016 dated 06/04/2016 has provided for mode and process of generation of Electronic Verification Code for electronically filed form of appeal to Commissioner-Appeals. The step wise procedure for evc of CIT-Appeals form-35 are as …
