Income Tax identifies 5.56 lakh high cash depositors from SFT information. 1.04 lakh persons not disclosed all bank accounts. Operation Clean Money-2nd phase Income Tax Department pushes additional cases of High Cash Deposits in Second Phase of Operation Clean Money The Income Tax Department (ITD) has used information …

Revised Excel Format Tax Audit Report Form 3CD for Assessment Year 2018-19 for Reports issued on or after 20th August 2018.  Earlier, the CBDT had Revised Tax Audit Report Form 3CD for AY 2017-18 reflecting effect of adjustments and disclosures on account of ICDS notified u/s 145(2) and more …

Directors advance notice for electronic participation in board meeting can be at the beginning of the calendar year, Declaration shall be valid for one year  Electronic participation in board meeting  GOVERNMENT OF INDIA MINTSTRY OF CORPORATE AFFAIRS Notification New Delhi, thet 13th July, 2017 G.S.R. -(E). – In …

Sale of old jewellery to jeweller not liable to GST under RCM-Further clarification Further clarification on tax in reverse charge on gold ornaments. Sale of old jewellery by an individual to a jeweller will not make the jeweller liable to pay tax under reverse charge mechanism on such …

If foundational addition is deleted other addition can not stand. CIT(A) cannot do what AO could not have done in original assessment-ITAT ABCAUS Case Law Citation: ABCAUS 1291 (2017) (07) ITAT Assessment Year : 2006-07 Important Case Laws Cited/relied upon: CIT vs. Kanpur Coal Syndicate (1964) 53 ITR …

Valuation of unquoted equity shares new FMV formula-Rule 11UA MINISTRY OF FINANCE (Department of Revenue) Notification No. 61 /2017 New Delhi, the 12th July, 2017 INCOME-TAX G.S.R. 865(E).—In exercise of the powers conferred by section 50CA and sub-section (2) of section 56 read with section 295 of the …