Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return.

Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return.

May 8, 2016 Income Tax, ITAT, Judgments
Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return. This was ruled by ITAT Mumbai in a recent judgment as under. Case Law Details: ITA No. 5977/Mum/2013  Assessment Year : 2010-11 …
Penalty u/s 271(1)(c) merely because quantum was decided against assessee by ITAT. The assessment and penalty proceedings are independent

Penalty u/s 271(1)(c) merely because quantum was decided against assessee by ITAT. The assessment and penalty proceedings are independent

May 7, 2016 Income Tax, ITAT, Judgments
Penalty u/s 271(1)(c) not imposable merely because quantum was decided against assessee by ITAT. The assessment proceedings and penalty proceedings are independent proceedings. ITAT Amritsar, in a recent judgment, upheld the deletion of the peanlty when additions were made on estimation basis. Case Law Details : I.T.A No.148 (Asr)/2014 Assessment Year: …
Research Internship Scheme of RBI-Essential Qualifications, Experience, Mode of Applications, Selection Process, Duration and Stipend payable.

Research Internship Scheme of RBI-Essential Qualifications, Experience, Mode of Applications, Selection Process, Duration and Stipend payable.

May 7, 2016 RBI
Research Internship Scheme of RBI-Essential Qualifications, Experience, Mode of Applications, Selection Process, Duration and Stipend payable. Objectives: The Reserve Bank of India has introduced a Research Internship Scheme to provide an opportunity to young individuals to expose themselves to cutting edge research in central banking. The scheme is …
Procedure for Submission of Form 15CC for remittances u/s 195(6) to foreign company or non resident under Income Tax Rule 37BB. ITDREIN Generation

Procedure for Submission of Form 15CC for remittances u/s 195(6) to foreign company or non resident under Income Tax Rule 37BB. ITDREIN Generation

May 7, 2016 Income Tax
F. DGIT(S)/ADG(S)-2/TDS e-filing Notification/110/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 8/2016 New Delhi, 4 May, 2016 Procedure for submission of Form 15CC by an authorised dealer in respect of remittances under sub-sect ion (6) of section …