Category: Income Tax
Husband Wife treated single unit for capital gains deduction u/s 54 54F. Compensation paid to husband to vacate house owned by wife not allowable – ITAT ABCAUS Case Law Citation: 996 (2016) (08) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: August 2016 Brief Facts of the Case: The assessee …
Government-embassies etc exempt from TCS us 206C (1D) on cash purchase of goods and services by new Rule 37CB. MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES Notification No. 75/2016 New Delhi, the 19th August, 2016 INCOME-TAX S.O. 2747(E).— In exercise of the powers conferred …
Consultant-Visiting Doctors TDS. Salary u/s 192 or professional fee u/s 194J. Remuneration of consultant doctors was salary liable to TDS u/s 192 while that of visiting doctors as professinal fee liable to TDS u/s 194J – ITAT ABCAUS Case Law Citation: 993 2016 (08) ITAT Assessment years: 2011-12, 2012-13 …
Approval of Eligible Projects-Schemes us 35AC. Requests received after 31-12-2016 for grant-modification-extension beyond 31032017 not to be considered. Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes PRESS RELEASE New Delhi, 19th August, 2016. Sub: Approval of Eligible Projects or Schemes under section 35AC of …
Income-tax e-nivaran form for online grievances lodging -Step by Step Procedures Income Tax Department has launched income-tax e-nivaran form for online lodging and disposal of grievances related to Assessing Officers, CPC-TDS/ITR, e-filing website team, NSDL, SBI refund Banker and Directorate of Systems. Matters not covered under e-Nivaran List …
5th Set of FAQ-The Income Declaration Scheme 2016 Circular No.29 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 18th day of August, 2016 Clarifications-5th Set of FAQ on the Income Declaration Scheme 2016 The Income Declaration …
IDS 2016-Fair market value of immovable property evidenced by a registered deed to be adjusted by Cost Inflation Index. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, the 17th August, 2016 Notification No. 74/2016 S.O._______- In exercise of the powers …
Books non-rejection and making additions than estimating income wrong when there were defects in accounts produced and many accounts not produced – ITAT ABCAUS Case Law Citation: 992 2016 (08) ITAT Assessment Year: 2006-07 Date/Month of Judgment: August 2016 Brief Facts of the Case: The assessee was a partnership …
Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business a the nature of the business of assessee company included furnishing of guarantee to debts borrowed by subsidiary company. ABCAUS Case Law Citation:991 2016 (08) ITATAssessment Year: 2005-06Date/Month of the …
Keeping cash in bank not in hand not mandatory under any law. Cash deposited in bank from withdrawals made long back accepted as the AO was not able to show that the cash so withdrawn was spent elsewhere – ITAT ABCAUS Case Law Citation: 990 2016 (08) ITAT Assessment …
