From November 10, 2016 upto December 19, 2016, banks have reported that banknotes worth Rs. 5,92,613 crore have been issued to public
The existing provisions of section 153B provide for the time limit for completion of assessment under section 153A.
In order to reduce the genuine hardship which may be faced by a person responsible for deduction and collection of tax at source due to levy of penalty under section 271 C or 271 CA, it is proposed to insert reference of sections 271 C and 271 CA in the said clause, so as to empower the Board to issue directions or instructions in respect of the said sections also.
Launch of Income Tax Business Application (ITBA) – Assessment Module-Phase-3 (Functionality for (1) Issue of Summon (2) Issue of Notice u/sec 133(6) and (3) Reference for Audit u/sec 142(2A)} – Reg.
TDS rates are fixed on the basis of nature of the services or contract and not on the basis of the number of recipients of the payment. When the intention of both the parties is clear that the payments shall be made for each of the service independently, then, the services are clearly ascertainable and divisible. The TDS rates for each of the services would therefore vary.
AO failed to appreciate that company is an independent entity and distinct person. The action of the company will not have any bearing on the shareholders. AO has no jurisdiction to charge anything in the case of assessee over the dealings of any other person.
This is in reference to the subject mentioned above. The functionality for generating the Central Scrutiny Report (CSR) on orders of CIT(A)/ITAT/High Court is now available in Appeal Register & CSR module of ITBA.
S.O. 345(E).- In exercise of the powers conferred by sub-section (1) of section 419 of the Companies Act, 2013 (18 of 2013), the Central Government hereby amends the notification of the Ministry of Corporate Affairs number S.O. 1935 (E) dated the 1st day of June, 2016
Please refer to Board’s letter of even number dated 08.03.2016 and subsequent reminders dated 25.04.2016, 23.05.2016, 30.05.2016, 21.06.2016, 25.07.2016, 04.08.2016, 12.08.2016, 23.08.2016, 30.08.2016, 08.09.2016, 23.09.2016, 30.09.2016, 14.10.2016, 21.10.2016, 07.11.2016, 11.11.2016, 28.11.2016, 06.12.2016 and 02.01.2017 (copy enclosed) on the above subject.
Budget 2017 With a view to provide relief to non-resident investor, in the wake of permission to the Indian corporates by the Reserve Bank of India (the RBI) to issue rupee denominated bonds outside India as a measure to enable the Indian corporates to raise funds from a source outside India, the Finance Act, 2016
