"16 November 2016" Archive

CBDT notifies Authority for Section 143(2) Assessment

Notification No. 105/2016-Income Tax (16/11/2016)

Rule 12E. Prescribed authority under sub-section (2) of section 143.—The prescribed authority under sub-section (2) of section 143 shall be an income-tax authority not below the rank of an Income-tax Officer who has been authorised by the Central Board of Direct Taxes to act as income-tax authority for the purposes of sub-section (2) of...

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Government ready for open debate on every issue : PM

Government is ready for open debate on every issue and we hope that it will create a conducive atmosphere for significant and fruitful decisions....

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Posted Under: Income Tax |

Govt Launches revamped Aadhaar Toll-Free Helpline No. 1947

The free of cost helpline 1947 will be available 24x7 throughout the year on IVRS mode, while Call-Centre agents will be available from 7 am to 11 pm (Monday to Saturday). On Sundays, agents will answer calls from 8 am to 5 pm. On an average the helpline number handles about 1.5 lakh calls per day....

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Posted Under: Income Tax |

Empanelment with Oriental Insurance Company Ltd. for Concurrent Audit

Oriental Insurance Company Ltd. propose to select a Chartered Accountant Audit Firm of repute for conducting Concurrent Audit of Investment Operations of the Company....

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Posted Under: Income Tax |

Legal Analysis of Demonetization Regulations

Notification No. 1/ 2015 - Income Tax (01/01/2015)

Notification No. 1/ 2015 - Income Tax S.O. 14(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-se...

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Posted Under: Income Tax |

Section 270A – Encouraging assesse to disclose unreported income?

The Finance bill 2016 bought a new array of sections to the income tax act that are section 270A and 270AA. The law aims to provide a new procedure for charging penalty for concealment or understatement of income which intends to replace the existing array of sections that is 271(1)(c)....

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Posted Under: Income Tax | ,

Deposit of Old Currency in Bank Things to be Kept in Mind

Income Tax Assesses maintaining books of accounts : They should prepare their balance sheet as on 8th November ,2016 and ascertain their cash balance. ...

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MEF Empanelment 2016-17- ICAI calls for Financial Documents

It has been decided to call for Financial Documents of the applicants for Multipurpose Empanelment, for the year 2016-17. The above MEF has been selected as one of those to submit the Financial Documents in connection with the subject empanelment....

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Posted Under: Income Tax |

How to Construct and Invest in Mutual Funds Portfolios

Buying mutual funds is a great way of saving, both for short and long term financial needs. One of the outcomes of investing in mutual funds is building of portfolios...

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Posted Under: Income Tax |

Support Nation, Support our PM Narendra Modi

Terrorism and ugly politics, funded by black money, are a cancer for India and PM Narendra Modi is the only Doctor who can cure it....

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Posted Under: Income Tax | ,