1. The taxpayer files refund application on the portal in form RFD-01. 2. On filing of RFD-01 application, common portal shall process the data and generate Taxpayers’ (Assessee) Master file. This file contains the details of the taxpayers’ bank account. 3. The Assessee Master is then shared with Public Financial Management System (PFMS) of Controller General of Accounts (CGA), Ministry of Finance for validation of bank account details.
OFFICE OF THE JOINT COMMISSIONER OF INCOME TAX, RANGE-28 ROOM NO. 1205, 12th FLOOR, E-2 BLOCK, PRATYAKSH KAR BHAWAN Dr. SHYAMA PRASAD MUKHERJEE CIVIC CENTRE, JAWAHARLAL NEHRU MARG, NEW DELHI-110002 F. No. JCIT/Range-28/Jurisdiction/2019-20/478 Dated: 03.10.2019 ORDER UNDER SECTION 120 OF THE INCOME-TAX ACT, 1961 In view of the Order of the Principal Commissioner of Income […]
CCI approves the acquisition of shareholding in GMR Airports Limited (GAL) by TRIL Urban Transport Private Limited (TUTPL), Valkyrie Investment Pte. Ltd. (Valkyrie) and Solis Capital (Singapore) Pte. Limited (Solis) under Section 31(1) of the Competition Act, 2002
Four crore rupees worth of black money seized since declaration of Maharashtra Assembly Elections: DGIT (Investigation). DG of Income Tax (Investigation) briefs the media on steps taken by the Income Tax Department to curb use of black money and cash in elections
Where out of 14 persons, 13 persons have duly confirmed the booking advances made to assessee and their creditworthiness was also examined by AO but no negative inference was drawn by him, no addition could be made under section 68 just because one person who had only advanced an meager amount, had not recorded the statement under oath as he was abroad. Consequently, penalty under section 271(1)(c) would also not be levied.
Trushar Parimal Shah Vs ITO (ITAT Ahmedabad) The addition in the present case was made under section 69C of the Act on account of unexplained expenses. Indeed, the primary onus lies on the assessee to justify the expenses claimed by him. However from the preceding discussion, we note that the assessee has discharged his onus […]
The total number of representations or petitions or communications, by whatever name called, received by the Government of India, till date, from donors regarding the need for maintaining confidentiality of their identity while making donations to political parties;
Circular No. 34/2019-Customs Procedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs Act
CESTAT Chennai has held that late fee imposed on the appellant for delay in filing of Bill of Entry was not proper, since the delay had occurred only because the original importer had failed to clear the goods.
The Institute of Chartered Accountants of India My dear Professional Colleagues, As India observes Gandhi Jayanti on 2nd October, I would like to quote Mahatma Gandhi, “Strength does not come from winning.Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” Revered as father of our nation, Gandhi ji, […]
