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Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
Income Tax : CBDT issued Notification No. 01/024-25-Income Tax dated 24th June 2024, specifying Form 3CN, Form 3CS, Form 3CEC, Form 3CEFB, Form...
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As per the Citizens Charter the time line prescribed for a decision on application for no deduction of tax or deduction of tax at lower rate is one month. Instances have been brought to the notice of the Board, about considerable delay in issuing the lower/non deduction certificate under section 197 by the jurisdictional Assessing Officers.
If the amount has been deposited on or before the due date of filing the return under Section 139 and admittedly it was deposited on or before the due date then the amount cannot be disallowed under Section 43B of the I.T. Act or under Section 36(1)(va) of the Act.
NSDL vide its circular No.: NSDL/TIN/2014/004 dated 15th January 2014 has informed that the Income Tax Department (ITD) has revised PAN application fees as follows :- From Rs. 96 to 105/- (For dispatch of PAN card in India)
Recently P&H High Court has held in the case of Mrs. Madhu Kaul Vs. CIT that identification of the flat or physical delivery of possession is irrelevant as right to hold properly stands crystalised upon allotment. The allotment of a particular flat and delivery of its possession would relate back to the allotment.
For any RNBC registered with RBI engaged in the business of mobilizing deposits, it is well nigh impossible to insist on the depositor to submit documents to establish creditworthiness of the prospective depositors before accepting the deposit.
We have considered the rival submissions of the parties and perused the relevant material available on record. It is undisputed fact that the department allowed the similar amortization of BOT Project expenditure in the earlier assessment year under scrutiny assessment under section 143(3) of the Act.
Notification No.GSR 22(E)-Income Tax The President of India is pleased to give his assent to the creation of Directorate of Income Tax (Risk Assessment), Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, with immediate effect. 2. The Directorate of Income Tax (Risk Assessment) will be headed by a Director General of Income Tax who will be an officer of the rank of Chief Commissioner of Income Tax and will be located in New Delhi.
The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There were in all 30706 cases in which the PAN Number was missing or was incorrectly stated.
Notification No. 6/2014-Income Tax In exercise of thy powers conferred by clause (a) of sub-section (2) of section 80D of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Contributory Health Service Scheme of the Department of Space for the purposes of the said clause for the assessment year 2014-15 and subsequent assessment years.
Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commission shall be sent to the Commissioner to enable him to furnish the report under sub-section (3) of section 245D.