"17 September 2019" Archive

CBDT notifies Rules & Forms related to Reference to Approving Panel

Notification No. 67/2019-Income Tax [G.S.R. 662(E)] 17/09/2019

CBDT inserts Rule 10UD – related to Reference to the Approving Panel, 10UE – Procedure before the Approving Panel, Rule 10UF-. Remuneration for For attending the meeting of an Approving Panel and  Form No 3CEIA under rule 10UD for making reference to the Approving Panel under sub-section (4) of section 144BA of the Income-tax...

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Extend last date to file ITR & Tax Audit Reports to 15.11.2019

Representation on Extension of last date of filing of Income Tax Returns in Audit cases & Tax Audit Reports from 30.09.2019 to 15.11.2019 by District Taxation Bar Association (Direct Taxes), Ludhiana to Union Finance Minister, Smt. Nirmala Sitharaman. DISTRICT TAXATION BAR ASSOCIATION (REGD.) (DIRECT TAXES) Aayakar Bhawan, Rishi Nagar...

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Posted Under: Income Tax | ,

FAQs on Treatment of Dividend Distribution Tax

What is the presentation requirement as per Ind AS in India for dividend and dividend distribution tax thereon?...

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Posted Under: Income Tax |

GST on Bloggers or You Tubers

A blogger is someone who provides space for brands to place their advertisement. Before we get into a detailed interpretation of GST applicability on Bloggers / You Tubers, it is essential to understand their working pattern. There are facilitator agencies, who work as advertising channel between the companies and the blogger. Most of the...

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Posted Under: Income Tax |

Start-Up – A Growth Engine For Economy

Start-up India is a flagship initiative, launched by government in January 2016, within the ambit of the ‘Make in India’ programme. Start-up India was brought in with the intention to build a strong eco-system for promoting innovation, improve sustainable economic growth and to generate large scale employment opportunities....

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Posted Under: Income Tax |

HC explains doctrine of exhaustion of remedies

M/s. HCL Infosystems Limited Vs State of Rajasthan (Rajasthan High Court)

M/s. HCL Infosystems Limited Vs State of Rajasthan (Rajasthan High Court) The doctrine of exhaustion of remedies prevents a litigant from seeking a remedy in a new court or jurisdiction until all claims or remedies have been exhausted (pursued as fully as possible) in the original one.  In this case Rajasthan High Court explains The [&he...

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Developing & Providing Study Material Qualifies as Charitable Educational Activity

World Institution Development Programme Vs ITO (ITAT Delhi)

World Institution Development Programme Vs ITO (ITAT Delhi) Developing  Study Material Qualifies as educational Activity which qualifies as a charitable purpose within the meaning of section 2(15) of the Act and eligible for exemption under section 11 and 12 of the Act. Admittedly, the assessee is a charitable trust. It is registered u/s...

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How to avoid TDS by Bank if you’re a Senior Citizen 

According to the Income Tax Act, the tax must be deducted by a bank before payment to the customer on payments such as interest, dividend, etc. However, in case amount of TDS (Tax deducted at Source) deducted by a bank on interest exceeds the income tax payable by such assessee, then such assessee is eligible […]...

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Posted Under: Income Tax |

Comparison of Share Valuation under different Indian Acts

Valuation for issue and transfer of shares (unlisted) under Income-tax Act, 1961, Companies Act, 2013 & FEMA Regulations been explained in detail in this article....

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Posted Under: Income Tax | ,

Confusion on Exclusion from SVLDRS 2019

Many of the assessee are worried whether they can avail the scheme specified under SVLDRS or if they are ineligibile pursuant as if provision of Sec 125(1)(e) Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 will be applicable on them. The main point of concerned is the notices they have received wrt verification of Service tax [&he...

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Posted Under: Income Tax |

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