CBDT amended Rule 114B (mandatory quoting of PAN) and Rule 114E (reporting in AIR) casting regulatory and reporting obligations on banks and post offices for accepting and reporting of cash deposits in the bank and post office accounts.
These appeals raise an interesting issue with respect to interplay of Article 9 of India Netherlands Double Taxation Avoidance Agreement and TP adjustments under domestic TP law.
For wedding expenses a maximum of Rs. 2,50,000/- may be withdrawn in cash from the bank accounts, subject to such conditions as may be specified by the Reserve Bank of India.
Provided further that the withdrawal limit provided in the first proviso shall also be applicable to the traders registered with the Agricultural Produce Market Committee (APMC) markets or mandis.
Sec 185 is applicable to both Public and Private Company. However A Private Company which satisfies the following conditions w.e.f. 5th June 2015 would not invite restrictions contained in section 185
Based on representations received from stakeholders and to further ease the PAN verification process at the time of account opening of FPIs, it is decided that the intermediaries can verify the PAN of FPIs online from website authorised by Income Tax department at the time of account-opening for FPIs.
Rate of exchange of conversion of the foreign currency with effect from 18th November, 2016 as notified by CBEC vide Notification No.138/2016 – Customs (N.T.) dated 17.11.2016
User Manual: provisional id Credential for GST Enrollment:
Rule 12E. Prescribed authority under sub-section (2) of section 143.—The prescribed authority under sub-section (2) of section 143 shall be an income-tax authority not below the rank of an Income-tax Officer who has been authorised by the Central Board of Direct Taxes to act as income-tax authority for the purposes of sub-section (2) of section 143
First requirement to claim of additional depreciation is that there should a new machinery or plant. A machinery is new till it is first put to use. Once it is used, it is no longer a new machinery. Admittedly, the machinery, on which additional depreciation has been claimed, was already used in various preceding previous […]
