Category: Income Tax
CPC(TDS) Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property (26QB Statement-cum-challan) The Centralized Processing Cell (TDS) provides important tips, for the convenience of Taxpayers, who have executed any transaction for Purchase of Immovable Property exceeding Rs. 50 Lakhs …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11th April, 2016 Sub: Signing of Agreements with respect to Taxes between India and Maldives reg-. The Government of the Republic of India and the Government of the Republic of …
In a latest judgment, ITAT Chandigarh has held that notice u/s 148 of the Income Tax Act, 1961 served upon by affixture at a wrong address and consequent re-assessment made under section 147/148 cannot be held to be valid. Case Details: I T A No s . 335 & 336/ CHD/2015 Assessment …
ABCAUS Excel Income Tax Calculator for Assessment Year 2016-17 (FY 2015-16) is excel based calculator is automatic, e.g. users are required to fill only the income under the various heads, amount of deductions to be claimed and it instantly calculates the amount of income tax payable. It has …
In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period can not be deemed to be the date of service of notice to the assessee. Case Law Details: …
In a recent judgment, ITAT Delhi following Pepsi Foods (P) Ltd case has granted stay beyond 365 days in a re-fixed appeal for clarification, holding that the delay was not attributable to the assessee. Case Law Details: S.A.-211/Del/2016 (In ITA No.-1681/Del/2015) AY: 2010-11 D.E.Shaw India Advisory Services Pvt.Ltd vs. DCIT …
Merely writing yes/approved and affixing signature by CIT is not proper satisfaction for a fit case for re-opening u/s 147 and issue of notice u/s 148 Merely writing “yes” or “approved” and affixing signature by the Commissioner of Income Tax (CIT) was not the required/proper satisfied for a fit case …
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 5/2016 New Delhi, 6th of April, 2016 Subject: Electronic Verification Code (EVC) for electronically filed Form of Appeal to Commissioner (Appeals) In exercise of the powers conferred by sub-section (1) …
In a latest judgment, the Delhi High Court has held that activity of 2D/3D seismic survey carried on by assessee in connection with oil exploration was not fees for technical services u/s 9(1)(vii) but liable to taxation u/s 44BB. Case Law Details: ITA 612/2012 PGS Exploration (Norway) ….Appellant vs. …
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 4/2016 New Delhi, April,2016 Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule …
