"24 June 2015" Archive

Reg. TDS on any income of Category I & II Alternative investment fund

Notification No. 51/2015 - Income Tax (24/06/2015)

Notification No. 51/2015 - Income Tax Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified in clause (23FBA) of section 10 of the said Act received by any investment fund as defined in clause (a) of the Explanation 1 of section 115UB of the sa...

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Notification No. 50/2015 – Income Tax Dated 24.6.2015

Notification No. 50/2015 - Income Tax (24/06/2015)

Notification No. 50/2015 - Income Tax S.O. 1683(E).— In exercise of the powers conferred by section 295 read with sub-clause (viii) of Explanation to sub-section (2) of section 288 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to ...

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How to choose ITR Form for A Y 2015-16

CA Pardeep Kumar Income Tax Return Forms Assessment Year 2015-16 [Notification No. 49/2015/ F.No.142/1/2015-TPL] , Dated 22nd June, 2015 Sr. No. Form No. Who can File Source of Income 1. ITR – 1 Only Individual 1.Salary 2. Only one House Property – No B/F losses 3. Other Sources – No B/F losses Exception:-Ordinary Resident &...

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Posted Under: Income Tax | ,

Rate of CST applicable in the State of Bihar

1. Certain amendments were made in the Constitution through the Constitution (Sixth Amendment) Act, 1956 whereby- a) Taxes on sales or purchases of goods in the course of inter-State trade or commerce were brought expressly within the purview of the legislative jurisdiction of Parliament;...

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Posted Under: Income Tax |

Appeal can be filed against wrong appeal effect given by Assessing Officer

The Haryana State Co-operative Supply & Marketing Federation Ltd Vs D.C.I.T. (ITAT Chandigarh)

D.R for the revenue argues that no appeal lies against Appeal Effect Order passed by Assessing officer. The appellant may apply to the Assessing Officer for rectification U/s 154 of the Income Tax Act, 1961 but no appeal be filed against appeal effect order passed by AO. ...

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Important Changes in ITR 1, ITR 2, ITR 2A & ITR 4S in AY 2015-16

ITR-1- Introduction of Aadhar Card Number in ITR. (Those Who Give Aadhar Card Details, They Will Get OTP on Their Registered Mobile Number And They Are Not Required To Send ITR V). Not Applicable for those having agricultural more than Rs. 5000/-( they have to use ITR 2 or 2A)...

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Posted Under: Income Tax |

Checklist For Issue And Redemption of Preference Shares under Companies Act, 2013

The preference shares shall be liable to be redeemed within a period not exceeding twenty years. A company engaged in the setting up and dealing with or infrastructure projects may issue preference shares for a period not exceeding thirty years, subject to the redemption of a minimum of ten percent of such preference shares per year from ...

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Posted Under: Income Tax |

Checklist for Issue Of Debentures Under Companies Act, 2013

An issue of secured debentures may be made, project the date of its redemption does not exceed ten years from the date of issue. A company engaged in the setting up infrastructure projects may issue secured debentures for a period exceeding ten years but not exceeding thirty years (Rule 18 companies (Share Capital and Debentures) Rules 20...

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Posted Under: Income Tax |

Govt. fixes limit of Rs. 4,375 on Clerkage fee payable to Counsel of income-tax department

Instruction No. 05/2015 (23/06/2015)

Instruction No. 05/2015 Clerkage at the rate of l0 per cent of the appearance and drafting fee shall be payable to the Counsel, subject to a maximum of Rs. 4,375/-, in a case or a batch of cases'. Instruction No. 05/2015 Dated- 23rd June, 2015...

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Prohibition on import of milk & milk products from China extended till 23.6.2016

Notification No. 12/2015-2020 (24/06/2015)

Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/confectionary/ food preparations with milk or milk solids as an ingredient) from China is extended for one more year, i.e., till 23.6.2016 or until further orders, whichever is earlier....

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