Admittedly, the undisputed fact is that the assessee in the case on hand, has not deducted tax at source on the payments made to Shri Uday Kumar Shetty amounting to Rs.1,53,78,795/-. As submitted by the ld.AR, as far as the payments made by the assessee to Shri Uday Kumar Shetty
State Bank of India Local Head Office, New Delhi – 110001 Tel: 011-23407458 Empanelment of Concurrent Auditors for Branches situated in the States of Delhi, Uttrakhand, Rajasthan and some districts of Uttar Pradesh Applications are invited from Chartered Accountants firms! LLP (situated in States of Delhi, Uttrakhand, Rajasthan and some districts of Uttar Pradesh), as […]
CBDT has noticed that 5,09,898/- taxpayers who have submitted an return for AY 2011-12 or 2012-13 or AY 2013-14 (Upto 20th October 2014) with returned Income of More than 10 Lakh or paid self assessment tax of more than / equal to one lakh (as per ITR) have not filed ITR for AY 2014-15.
The following officers in the grade of Pr. Chief Commissioner / Pr. Director General of Income Tax and Chief Commissioner / Director General of Income Tax are, hereby, transferred and posted as indicated against names of each of them with immediate effect and until further orders:
2. Based on the representations received from UCBs and National/State Federations, it has been decided to increase the quantum of loan that could be granted under the scheme, from Rs. 1.00 lakh to Rs. 2.00 lakh subject to the following conditions:
In the present case also, there exist no grounds for re opening the assessment after the expiry of 4 years from the relevant assessment year. The notice under section 148 of the said Act is based on re-appreciation of the same material on record.
Notification No. 55/2014-Income Tax S.O. 2793(E)- In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India, Central Board of Direct Taxes number S.0.1386(E), dated the 10th August, 2007 and in partial suppression of the notification number S.O. 2752 dated 22nd October,2014 published in the Gazette of India, Part-II, sub-section (ii), in so far as it relates to the persons or classes of persons mentioned in column (5) of the Schedule of this notification, except as respects things done or omitted to be done before such supersession, the Central Board of Direct Taxes, hereby,-
We are unable to discern any legal flaw in the proviso to Section 85(3) of the Act, that would enable us to hold that the proviso impedes the rights of the petitioner to file an appeal or is in any manner in excess of legislature power or should be read down.
Receipt of foreign currency plays a very vital role in development of the economy of any of the country and therefore, many of the countries maintain foreign exchange reserves in order to meet international payment obligation including sovereign and commercial debts, financing imports etc.
Representations have been received by the Board from various quarters regarding difficulties being faced on account of surveys and income-tax scrutiny assessments by fish farmers, being involved in business and profession of running inland fresh water fish tanks specifically in cases where the books-of-accounts are not being maintained by the assessees concerned.
