A comprehensive guide to filling ITR-4 SUGAM for A.Y. 2017-18. Follow these instructions to ensure accuracy and compliance with tax laws.
Overall, the amendment in form of proviso to S. 10(38) is an anti-abuse measure, and a step forward to the Government’s agenda of cracking unaccounted money. Equally important is the Government’s commitment to notify genuine transactions that remain outside the fold of this amendment.
The petitioner does not have a contention that the Resort owned by the petitioner does not come under the definition of “Hotel”. The Resorts are assessed under the LT Act and have also been remitting such tax as collected from the non-members who are residing in their facility and for any facility other than accommodation […]
These writ petitions concern challenge to Finance Bill, 2014 by which taxi vehicles are also imposed with an obligation to pay one time tax for fifteen years.
CBEC constituted, in 2004, a Centralised Task Force (CTF) to co-ordinate, facilitate, monitor and oversee the efforts of Customs and Central Excise field formations in recovery of arrears. We observed that though the Task Force was entrusted with finalising and implementing strategies for realisation of arrears it did not take any such action for realisation of arrears.
CAG in its Report No. 2 of 2017 (Direct Taxes) pointed out mistake in business rules relating to matching of TDS with offered income. Full potential of CPC such as AST-CPC interface for accessing demand/refund information, information available with AO not used in processing returns, non-linking of previous years’ ITRs resulting in excess deduction, was not realised due to not changing the definition of ‘processing’.
Report No.1 of 2017 – Union Government (Indirect Taxes – Customs) has 101 paragraphs with revenue implication of Rs. 495 crore and two subject specific compliance paragraphs of Rs. 568 crore. In addition systemic and internal control deficiencies involving revenue of Rs. 6430 crore have been included in the report.
CBDT has vide notification No. 21/2017 released ITR forms for Assessment Year 2017-18 / Financial Year 2016-17. The number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.
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A new section 269ST has been introduced, no person (except banking company, Government, post office co-operative & other as may notify by Government) shall receive an amount of Rs. 2 lakh or more –
