"11 May 2016" Archive

Primary Agricultural Credit Society can claim deduction u/s 80P

The Chirakkal Service Co-Operative Bank Ltd Vs CIT (Kerala High Court)

It is held that deduction u/s 80P is allowable to a primary agricultural credit society. In the instant case , assessee being a registered society classified in bye-laws as primary agricultural credit society is entitled to claim exemption u/s 80P. ...

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TDS and form 15G/ 15H applicability

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II For a layman TDS or TAX is very cumbersome to handle and they are afraid of various procedures related to it. So, in this article I have tried to point out  few things which an Assessee/ Taxpayer needs to know :- [1]  […]...

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Posted Under: Income Tax | ,

Impact of Companies Amendment Bill 2016 on Board’s Report

The structure of Board’s report is proposed to be changed under Companies Amendment Bill 2016 to a large extent by doing away with the provision of extract of annual return in the report, instead just providing a web address of the annual return uploaded on the website of the company, thus reducing the duplication of information to a la...

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Posted Under: Income Tax |

Detailed analysis of annual budget Delhi 2016-17

This article has been written to give you clarity on the changes introduced through annual budget of Delhi Govt. (2016-17) which was presented on 28-03-2016. The changes which were announced in the budget do not automatically become applicable unless a gazette notification is issued in this regard....

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Posted Under: Income Tax |

Ensure equal distribution of case among Sr./Jr. Standing Counsels

F.No. 278A/25/2016-Legal (11/05/2016)

In this regard it has come to the notice of the Board that there is an uneven distribution of cases among the Sr./Jr. Standing Counsels as well as SPPs at some zones/places. It is noticed that a some places most of the cases have been allocated to particular Counsel, while the other Counsel are not assigned a single case or have been assi...

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Strange system of Laws and Courts in India: Revamping Desirable

Laws are peculiar in their own ways and for the reasons best known to the judicial system of India. The experiences faced in the real life are presented to understand the gravity of the above question. In a cheque bounce case, the court postponed the hearing on several occasions for one or other reason. Each time, the banker promptly atte...

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Posted Under: Income Tax |

Further amendments in notification of Ministry of Corporate Affairs

G.S.R. 498(E) (11/05/2016)

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II In exercise of the powers conferred by sub-section(1) of Section 10B of the Cost and Works Accountants Act, 1959(23 and 1959)...

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Transfer posting orders in grade of ACIT/DCIT for Delhi Region

ORDER NO. 38/G.O. (11/05/2016)

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II F.No. P-328/T&P/DC-ACsIT/2016-17/1818 OFFICE OF THE PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX NEW DELHI Dated : 11th May, 2016 ORDER NO. 38/G.O. 2016-17 Sub:-Estt. Group ‘A’ – Transfers and Postings of Deputy/Assistant Commission...

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SEBI Guidelines for public issue of units of InvITs

Circular No. CIR/IMD/DF/55/2016 May 11, 2016 (11/05/2016)

(1) The Investment Manager on behalf of the InvIT, in line with Regulation 10 (5) of InvIT Regulations, shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker, to carry out the obligations relating to the is...

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Section 80C Deduction- Investment in Residential House Property

Do you know that buying an house can also provides you tax benefits Under section 80C of the Income Tax Act,1961? In this article we are discussing the Qualifying Amount, conditions, Limits subject to which we are eligible for deduction U/s. 80C for Investment in Residential House Property....

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Posted Under: Income Tax | ,
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