Section 269SS would not be violative when money is exchanged inter-se between the partners and partnership firm in spite of the fact that the partnership firm and individual partners are separate assessees.
Features of various Deposit Schemes available for Non-Resident Indians (NRIs)1 Particulars Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR (B) Account] Non-Resident (External) Rupee Account Scheme [NRE Account] Non-Resident Ordinary Rupee Account Scheme [NRO Account] (1) (2) (3) (4) Who can open an account NRIs (individuals / entities of Bangladesh / Pakistan nationality / ownership require […]
Concealment Penalty Proceedings U/S 271(1)(C) of Income Tax Act 1961 Initiated in 128 Cases in which Assessments were Completed While in the Remaining Cases, Assessment Proceedings are at Advance Stage; Information About Hsbc Foreign Bank Accounts was Received from the French Authorities in Respect Of 628 Indian Persons/Entities; Necessary Investigation as Per The Provisions of […]
FM: Global Situation is Favourable to the Country as more and more Investors are Showing Curiosity and Interest in India; Our Major Challenges will be to Boost Investment Especially in Infrastructure Sector and Give Further Boost to Both Manufacturing and Agriculture Sector Among Others
Based on the feed back received from different officers the position on the implementation of AEBAS has been reviewed by the Chairperson, CBDT who has observed as follows- Very tardy Progress. It appears that field offices have assumed that their work ended with appointment of nodal officers. Please send a self contained advance reminder w.r.t compliance report due on 15.2.2015
As it has been observed that there is substantial increase in the number and amount of advances received for exports remaining outstanding beyond the stipulated period on account of non-performance of such exports (shipments in case of export of goods), AD Category –I banks are advised to efficiently follow up with the concerned exporters in order to ensure that export performance (shipments in case of export of goods) are completed within the stipulated time period.
CIRCULAR NO. 24 OF 2014-15 In partial modification of this department’s Circular No.18 of 2014-15, the following Assistant Commissioners(mentioned at Col.No.4) are hereby authorised as Spl.OHAs for hearing the objections with respect to 2A-2B mismatch of 2012-13 in place of Sh. Sameer Minz, Assistant Commissioner (W-22 & 23), in addition to the wards earlier allocated vide the above said circular till further orders :-
The assessee’s second ground is in respect of disallowance of repair and maintenance expenses of a rented premises at Rs. 42.66 lacs. The assessee, it was explained, had taken an office premises on rent in October, 2007 for a period of five As the said premises was old and not in use for a long time, it incurred the impugned expenditure towards repair and renovation of the said premises.
We have come across the following email communication containing unauthentic, misleading and distorted information relating to CPT & Final Exams of CA Course and ICAI website circulated by someone fraudulently using domain name of ICAI and thus giving an impression that the same has been sent by Director, Board of Studied, ICAI.
Cases, where the tax deducted is between Rs.25,000 and Rs. 1,00,000 and the same is not deposited by the due date prescribed under the Income Tax Act, 1961 read with the Income Tax Rules, 1962 may be processed for prosecution depending
