Sponsored
    Follow Us:

Archive: 09 April 2018

Posts in 09 April 2018

CBDT provides selecting of Transgender option in Filing of Form No. 49A and 49AA

April 9, 2018 9840 Views 0 comment Print

CBDT has added Transgender in Option to select Gender while filling Form number 49A and Form number 49AA related to PAN Application for Individual Resident and Non-Resident applicants. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 18/2018 New Delhi, the 9th April, 2018 Income-tax G.S.R. 352(E).—In exercise of the powers […]

Draft Handbook on Accounting Treatment under GST – For Suggestions

April 9, 2018 7536 Views 1 comment Print

The Committee has drafted a handbook on accounting treatment under GST given below. In this regard, we request you to provide your comments/suggestions at the link https://goo.gl/forms/92zwewildriB4apm2 or idtc@icai.in preferably in 15 days i.e 25th April, 2018.

ITAT on Disallowance of Payments of interest to NBFC without TDS deduction

April 9, 2018 59937 Views 0 comment Print

TDS provisions were applicable to interest payments made to NBFCs, however, if payees had shown interest income in their respective returns and paid income tax thereon, no disallowance could be made in view of second proviso to section 40(a)(ia).

Fees for delayed filing of Income Tax return for AY 2018-19 onwards

April 9, 2018 155220 Views 46 comments Print

Avoid penalties for delayed filing of Income Tax return for AY 2018-19 onwards. Learn about the new income tax forms and rules to stay compliant.

38 FAQ’s on E-Way Bill

April 9, 2018 35322 Views 10 comments Print

The meaning of E-way bill has not been defined anywhere in the Act. But in common language E-way bill refers to the electronic bill that is to be generated by the registered person through the e-way bill portal for movement of goods of value more than Rs.50,000/-

Expense outside Section 24 ambit cannot be claimed against House Property Income

April 9, 2018 1656 Views 0 comment Print

Sonega Trades & Investments Private Limited Vs ITO (ITAT Mumbai); During assessment proceedings, it was noted that the assessee claimed deduction of Rs.3.72 Lacs as Municipal Taxes and other charges u/s 24 against rental income earned by the assessee. The said charges comprised-off of Rs.0.72 Lacs being monthly maintenance charges and Rs.3 Lacs being License […]

Indian Taxation League: New ITR Forms – Income Tax V/S GST

April 9, 2018 23058 Views 5 comments Print

, There is also a new league that has been started, Indian Taxation League and the match is between GST and Income Tax. Recently CBDT has notified new changes in the ITR and now the taxpayers have to give details of their turnover reported in GST in Income Tax Return.

Interest on Bank Overdraft advanced to Sister Concern for Non-Business purpose is not allowable

April 9, 2018 1668 Views 0 comment Print

In Dheeraj Consultancy P. Ltd v. ACIT, the Mumbai ITAT held that the finance cost incurred on overdraft obtained from the bank which is advanced to sister concern for the non-business purpose is not business loss under the Income Tax Act.

Prior to A.Y 2015-16 no restriction on number of residential houses U/s. 54

April 9, 2018 3174 Views 0 comment Print

In Mr. Ravi Shankar vs. The Assistant Commissioner of Income Tax, Mumbai bench of Income Tax Appellate Tribunal (ITAT) proclaimed in its recent order that pre- amended capital gain under section 54 of the Income Tax Act 1961 can be availed for two residential houses.

Submission of Life Certificate/non re-marriage certificate by Pensioners under EPS, 1995

April 9, 2018 9102 Views 0 comment Print

It is requested to issue suitable instruction to field offices under your jurisdiction for taking necessary actions adopting the methodology explained in the circular for acceptance of life certificate /non re-marriage certificate by the Banks and release of pension to pensioners.

Sponsored
Sponsored
Search Post by Date
February 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
2425262728