Income Tax : Govt. has come out with index table called Cost Inflation Index whose base year was fixed as 1-4-1981. In Finance Bill 2017 the Go...
Income Tax : Krishna, Government of India has taken a major step towards ensuring that people get their own house by introducing Pradhan Mantri...
Income Tax : Article discusses Union Budget 2017 provisions related to ELECTORAL BOND. It discusses if the same is a legal weapon to curb and m...
Income Tax : Central Government is putting all efforts to curb use of cash which is focused on un-accounted transactions. As we all know, not a...
Income Tax : Finance Act’2017 had made some major changes relating to Charitable and religious trusts. In this Article we have discussed five...
Income Tax : TAXGURU invites you to be a part of ‘BUDGET 2021 Knowledge Sharing Campaign‘. The campaign has been initiated with the...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : Download Union Finance Budget 2018 as presented by Finance Minister Arun Jaitley today in Lok Sabha AS INTRODUCED IN LOK SABHA ON ...
CA, CS, CMA : The Finance Bill, 2017 proposed an insertion of Section 271J in the Income-tax Act, 1961. Considering the undue hardships to be ca...
Finance : Lok Sabha Speaker congratulates the Prime Minister, Union Finance Minister, Members of Union Cabinet, Members of Lok Sabha and Off...
Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...
Income Tax : CBDT has issued Explanatory Notes to the Provisions of the Finance Act, 2017 vide Circular No. 02/2018 dated 15.02.2018 clarifying...
Income Tax : Every person responsible for deduction of tax under section 194-IB shall furnish the certificate of deduction of tax at source in ...
Corporate Law : Central Government hereby appoints the 26th day of May, 2017 as the date on which the provisions of the PART XIV of Chapter VI of ...
Goods and Services Tax : The Acts and Rules, which are amended, vide budget 2017-18 in Maharashtra are as follows: 1. The Maharashtra Purchase Tax on Sugar...
Income Tax : CBDT notified that Section 269ST not applies to cash receipt from banking company, post office savings bank or co-operative bank....
Central Government notified the Indian Accounting Standards (Ind AS) which are converged with International Financial Reporting Standards(IFRS) and prescribed the Companies( Indian Accounting Standards) Rules, 2015 which laid down a roadmap for implementation of these Ind AS.
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.
Finance bill 2017 has reduced the lowest slab rate to 5% from 10%. This is a welcome step. The assessee shall get maximum benefit of Rs. 12,500 across all levels of income.
Sub-section (3) of section 46 is being substituted so as to make it mandatory to file a Bill of Entry before the end of the next day following the day (excluding holidays) on which the vessel or aircraft or vehicle carrying the goods arrives at a customs station at which such goods are to be cleared for home consumption or warehousing and to provide for imposition of such charges for late presentation of the bill of entry as may be prescribed.
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
Budget 2017-Assessing Officer shall rectify the assessment order or an intimation under sub-section (1) of section 143, if the assessee, within six months from the end of the month in which the dispute is settled,
Budget 2017-It is proposed to insert a new sub-section (1B) in the said section to provide that where refund of any amount becomes due to the deductor, such person shall be entitled to receive, in addition to the refund, simple interest on such refund, calculated at the rate of one-half per cent.
Budget 2017 – It is proposed that the assessee who declares profits and gains in accordance with presumptive taxation regime provided under section 44ADA shall also be liable to pay advance tax in one instalment on or before the 15th of March.
Budget 2017-it is proposed to insert a new section 241A to provide that, for the returns furnished for assessment year commencing on or after 1st April, 2017, where refund of any amount becomes due to the assessee under section 143(1) and the Assessing Officer is of the opinion that grant of refund may adversely affect the recovery of revenue
