RBI released Annual Report of the Ombudsman Schemes for the year 2018-19 – Read Highlights The Reserve Bank of India (RBI) released the Annual Report of the “Ombudsman Schemes of RBI for the year 2018-19” today. Banking Ombudsman Scheme The Banking Ombudsman Scheme (BOS) was notified by RBI in 1995 …

CBDT extends 157 adhoc appointment in the grade of Assistant Commissioner of Income Tax (ACIT) against the vacancy year 2014-15 CBDT extends 157 adhoc appointment in the grade of ACIT These adhoc appointments have been made subject to the condition that such appointments shall not confer any right …

Extension of last date of payment of December instalment of Advance Tax for FY 2019-20 in North Eastern States F.No.385/38/2019-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes***** North Block, New Delhithe 16th December, 2019 Order under Section 119(2) (a) of the Income-tax Act, 1961 – …

Presumptive tax u/s 44AE – No addition for cash deposit in bank made out of business receipts unless rebutted by cogent findings ABCAUS Case Law Citation:ABCAUS 3197 (2019) (12) ITAT Important case law relied upon by the parties:CIT vs. Nitin Soni (2012) 21 taxmann.com 477. The instant appeal …

Human probability is that truck drivers would insist for cash payment-ITAT deleted additions u/s 40A(3) for cash payments ABCAUS Case Law Citation:ABCAUS 3196 (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the Commissioner of Income Tax in confirming the disallowance u/s …

IDS Scheme 2016 – Payment of tax/interest/penalty on undisclosed income may be made till 31.01.2020 MINISTRY OF FINANCE(Department of Revenue) Notification No. 103/2019 New Delhi, the 13th December, 2019 S.O. 4455(E).—In exercise of the powers conferred by the proviso to sub-section (1) of section 187 of the Finance …