Abcaus

Up-to-date Table of Cost Inflation Index (CII) from FY 1980-81 to FY 2016-17

administrator June 7, 2016 Income Tax

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 …

Cost Inflation Index for FY 2016-17 is 1125 CBDT Notification 42/2016 dated 02/06/2016. CII for FY 2015-16 was 1081. The increase is 4.07%

administrator June 7, 2016 Income Tax

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

administrator June 6, 2016 Income Tax, ITAT, Judgments

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 …

Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of the assessee in payment of advance tax-ITAT

administrator June 6, 2016 Income Tax, ITAT, Judgments

Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of the assessee in payment of advance tax-ITAT ABCAUS Case Law Citation: 932 2016 (06) ITAT The Question: whether interest under section 234B of the income tax act can be …

Rule 8D Amendment CBDT Notification 43/2016. Formula for interest not directly attributable to exempt income deleted. Expenditure claimed set as maximum limit

administrator June 6, 2016 Income Tax

Rule 8D Amendment CBDT Notification 43/2016. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 43/2016 New Delhi, the 2nd June, 2016 S.O. 1949(E)– In exercise of the powers conferred by section 295 read with subsection (2) of section 14A of …

SEBI Caution-Unlisted companies luring investors by issuing securities /non-convertible debentures/shares etc. in the garb of private placement

administrator June 6, 2016 SEBI

Securities & Exchange Board of India PR No. 109/2016 Caution to the Investors Some unlisted companies are luring retail investors by issuing securities including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies …