Section 80-IBA Detailed Analysis – Affordable Housing Project 1. Affordable Housing Meaning Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income. The basic intention of the Government is to build houses which are affordable to below medium class...
Read MoreEvery specified person is responsible for deducting the tax at source. The TDS compliance of the financial year 2019-20 would be started from 1 April 2019, in light of the concern I have prepared the brief about TDS and tax provision along with important details. TDS stands for tax deducted at source. As per the […]...
Read MoreA Roadmap for a Global Asset Registry- Measuring and tackling inequality: Curbing tax avoidance, tax evasion, corruption and illicit financial flows....
Read MoreThe deadline to file Income tax returns for the Financial Year 2017-18 (Assessment year 2018-19) without any penalty was of July 31, 2018, which was later extended by one month to August 31, 2018....
Read MoreAs the year end is right around the corner the assessee have already started calculating their yearly income and the advance tax deadline has just passed few days ago, where assessee computes his total income of the year and pays tax in advance. Other than the advance tax the other source of tax payment by […]...
Read MoreLink your Aadhaar with PAN today to enjoy seamless Income Tax services online How to link your PAN with Aadhaar Through SMS facility Send SMS to 567678 or 56161 in following format: UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN> Example : SMS to 567678 or 56161: UIDPAN 111122223333 AAAPA9999Q Through a-filing...
Read MoreMinistry of Finance CBDT refutes Media Report Dated: 22 MAR 2019 by PIB Delhi A search action under Section 132 of the Income-tax Act, 1961 was carried-out on Sh. D.K Shivakumar and Group of Cases on 2nd August, 2017 by the Income Tax Investigation Directorate of Karnataka & Goa. A large evidence of incriminating material [&...
Read MoreThe Income Tax Department (Investigation), NER has prepared itself to deal with any reported movement of unaccounted money ahead of the Lok Sabha elections. Pursuant to the notifications for holding Lok Sabha Elections 2019 by the Election Commission of India(ECI). ...
Read MoreCentral Bureau of Investigation has arrested an Enforcement Officer, working in Employees Provident Fund Organization (EPFO), Nagpur (Maharashtra) for demanding and accepting a bribe of Rs. 50,000/- from the complainant....
Read MoreIncome Tax Department conducted search actions at 5 locations in the Kashmir Valley on 14th March, 2019. Few places in Jammu were also searched. These actions are part of the Department’s continued drive against use of black money by disruptive elements in the State. The operations also send a message of deterrence and obviation to thos...
Read MoreBengal Tea & Fabrics Ltd. Vs Dy. CIT(ITAT Kolkata) - Bengal Tea & Fabrics Ltd. Vs Dy. CIT (ITAT Kolkata) ITAT held that when no business operations of commission agent were carried on in India, commission earned by them would be outside the ambit of income ‘deemed to accrue or arise in India’ for the purpose of section 5(2)(b) read with sectio...
Read MoreSuresh Kumar Sheetlani Vs ITO (Allahabad High Court) - Since Department had correct address of assessee and sending notice for reassessment at incorrect address drawing a presumption of service of notice was rendered assessment proceedings as invalid....
Read MoreA.T.E. Pvt. Ltd. Vs Assisstant Commissioner of Income Tax (Bombay High Court) - A.T.E. Pvt. Ltd. Vs ACIT (Bombay High Court) In this case, admittedly, the payments have been made beyond the due date as prescribed in the relevant Act, under which the aforesaid payments have been made. However, it is also undisputed that the payments have been made before the due date for fling t...
Read MoreP3P Ventures (P) Ltd. Vs DCIT (ITAT Delhi) - When TDS returns/statements had been filed by assessee for each quarter online and orders had been served upon assessee online for payment of the late fees, assessee was not justified in contending that it had not received any communication in respect of late fee imposed under section 234E neither a...
Read MoreSanraj Engineering (P) Ltd. Vs ITO (ITAT Delhi) - Sanraj Engineering (P) Ltd. Vs ITO (ITAT Delhi) Levy of penalty under section 271(1)(c) was not justified, where both the assessment order and show cause notice failed to state the specific charge of concealment and/or furnishing of inaccurate particulars of income by assessee. FULL TEXT OF THE ITAT...
Read MoreNo: CIT (e-Verification)/Jurisdiction/2019-20/01, 47 20119 - (15/03/2019) - Commissioner Of Income Tax (E-Verification) directs that the Addl Commissioner or Joint Commissioner of Income-tax specified in column (1) of the schedule annexed hereto, having his headquarter at the place specified in the corresponding entry in column (2) of the said schedule, to exercise the conc...
Read MoreNotification No. 26/2019 - (20/03/2019) - Central Government hereby notifies the Housing and Urban Development Corporation Ltd. (HUDCO), New Delhi for the purpose of Section 194A(3)(iii)(f) of Income Tax Act, 1961....
Read MoreF. No. DGIT(S)-ADG(5)-2/Insight Instructions/292/2018-19 - (15/03/2019) - Functionality for viewing information related to Cases of substantial cash deposit during the demonetisation period in which notice under section 142(1) of the I. T. Act has remained non-complied...
Read MoreNotification No. 25/2019 - (19/03/2019) - CBDT notifies ‘Visakhapatnam Special Economic Zone Authority’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 25/2019 Dated 19th March, 2019....
Read MoreNotification No. 24/2019 - (19/03/2019) - CBDT notifies ‘Andhra Pradesh Electricity Regulatory Commission’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 24/2019 Dated 19th March, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 24/2019 New Delhi, the 1...
Read MoreBengal Tea & Fabrics Ltd. Vs Dy. CIT(ITAT Kolkata) -
Suresh Kumar Sheetlani Vs ITO (Allahabad High Court) -
A.T.E. Pvt. Ltd. Vs Assisstant Commissioner of Income Tax (Bombay High Court) -
P3P Ventures (P) Ltd. Vs DCIT (ITAT Delhi) -
Sanraj Engineering (P) Ltd. Vs ITO (ITAT Delhi) -
Shri Rahul Singhal Vs ITO (ITAT Jaipur) -
Pr. CIT Vs Vernan Pvt. Trust (Bombay High Court) -
Sharp Designers and Engineers India Pvt. Ltd. (Formerly Khinvasara Investments Pvt. Ltd.) Vs ACIT (ITAT Pune) -