Assessee (Salman Khan) in the present case is a leading film actor who derives income from profession of acting and advertisement assignments. The returns of income for both the years under consideration i.e assessment years 2003-04 & 2004-05 were filed by him on 28-11-2003
From a reading of the Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013 it becomes clear that the Department has sought to achieve a comprehensive processing of statements filed under sub-section (3) of Section 200 of the Act, including rectification of a mistake in the said statement under Section-154 of the Act.
While Registering Digital Signature Certificate , Uploading of XML File and Signing of XML file on Income Tax E-filing websites we faces various problems. In this article we have listed out such problems which are mainly related to use of digital signature while registering and while signing the ITR.
Instant Solution to Problem- 1 Your Internet connection is working, other websites are opening properly but incometaxindiaefiling.gov.in not opening properly & Problem- 2 Internet service from ISP is not available or failing intermittently.
Budget of 2014 had become the talk of the town since the day Mr. Narendra Modi came into power as the Prime Minister of India. The veil on the most awaited Budget has been lifted. But there seem least changes in the indirect tax regime. However these little changes too might have a considerable impact on the assessee. This piece of articulation is about few such changes done in the Cenvat Credit Rules, 2004 which restrict the time for availing the Cenvat credit to six months.
Sale of goods at a price below manufacturing cost & profit now onwards will not be considered as exception to section 4 of C.EX Act,1944 i.e., price is not the sole consideration for sale (Rule 6) Notification.No.20/2014 C.E.(N.T.) date 11.07.14.
Manoj Sethia, FCA, ACS, ACMA Vide notification no. 33/2014 dated 25.07.2014, CBDT has made amendments in Form 3CD and the same have been made effective for Tax Audit for assessment year 2014-15. Broadly, the changes have been made making Tax Audit Report (TAR) more comprehensive, informative and analytical. These changes also signal linking of Direct […]
The Taxpayer who has not received the email PIN are requested by Income Tax Department to check for email from Department for PIN in your Inbox as well as the Spam or Junk folder (mail id – DONOTREPLY@incometaxindiaefiling.gov.in). Income Tax Department has also requested taxpayers to add their official email id DONOTREPLY@incometaxindiaefiling.gov.in) in their email […]
Doubts have been raised about applicability of sections 139(5) and 139(7) of the Companies Act, 2013 (New Act), which deal with appointment of auditors by Comptroller and Auditor General of India (C&AG), to ‘deemed Government Companies’ referred to in section 619B of the Companies Act 1956 (Old Act) i.e. companies where ownership or control lies with two or more Government companies or corporations etc in the manner detailed in section 619B ibid.
Counsel for the assessee submits that assessee has not received any exempt income and in the absence of the assessee receiving any exempt income, there is no justification in deriving expenses attributable for earning income which is not received by the assessee.
