CBDT - Page 20

Office Order No. 125 of 2019 – Additional Charge in CCIT grade

Office Order No. 125 of 2019-CBDT 31/05/2019

The 31st May, 2019 OFFICE ORDER NO. 125 OF 2019 The following officers in the grade of CCsIT are, hereby, ordered to hold the charge(s) as indicated against their names, in addition to their substantive charge / additional charge(s), if any, being held by them, with immediate effect and until further orders: -...

Transfer & Posting in the grade of Chief CIT

Office Order No. 116 of 2019 20/05/2019

Office Order No. 116 of 2019 – Transfer & Posting in the grade of Chief Commissioner of Income Tax – reg. F.No.A.22011/5/2019-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Dated 20.05.2019 Office Order No. 116 of 2019 The following officers, who were promoted to...

Bad debts are allowable expenses and it is not necessary for the assessee to establish that debt has become irrecoverable

Bad debts are allowable expenses and it is not necessary for the assessee to establish that the debt has become irrecoverable Gone are the days when the the Assessing Officer would disallow the sum debited in the P&L account as non-recoverable sums written off as bad debts.  The Assessing Officer cannot disallow the sum in […]...

Posted Under: Income Tax |

Books of accounts of cannot be rejected without finding any specific defects in them

Books of Accounts of cannot be rejected without finding any specific defects in them The Revenue is bound to accept the authenticity of the accounts prepared with reference to the manner provided in section 128 r.w. section 129 of The Companies Act, 2013 and Income Computation and Disclosure Standards issued under section 145 of The [&hel...

Posted Under: Income Tax |

Analysis of recent changes by MCA, SEBI, CBDT, RERA & CBIC

MCA Amendment No. 1: Filing of DIR-3 KYC required on an annual basis: It has been clarified by the MCA on 13th April, 2019 that DIN holders are required to file the DIR-3 KYC Form every year, so that they are aware of and confirm the data and information as available in the MCA21 system. MCA has mentioned […]...

Posted Under: Income Tax |

Transfer & Posting in ITO Grade on mutual basis

Office Order No. 82 of 2019 08/04/2019

Office Order No. 82 of 2019 The following transfer/ posting in the grade of Income Tax Officer, on mutual basis, are hereby ordered, as per the table given below, with immediate effect or until further orders:...

Notification No. 29/2019-Income Tax Dated: 28.03.2019

Notification No. 29/2019-Income Tax [S.O. 1465(E)] 28/03/2019

NOTIFICATION No. 29/2019 Central Government hereby notifies the undertaking from the date of commencement of the industrial park the 8th June, 2010 being developed and being maintained and operated by M's Romell Real Estate Pvt. Ltd., for the purposes of the said clause (iii) subject to the terms and conditions mentioned in the Annexure t...

Proposed Signing of Bilateral Agreement for Exchange of CBCR between India and USA

Dear Reader, The Ministry of Finance, has issued a Press release dated 15 March, 2019 stating that a bilateral agreement has been finalized between India and the United States of America (USA) for the exchange of Country-by-Country Reports (CbCR). The proposed agreement would apply retrospectively for the exchange of CbCR from the financi...

Posted Under: Income Tax |

Income Tax Tax Updates – December 2018 to February 2019

TAX UPDATES – DECEMBER  2018 NEWS 1. CBDT vide Notification dated 06th December, 2018 notifies the norms for conversion of Branch of Foreign Banks in India into Subsidiary Company. [Notification No. 85/2018/F.No.370133 /34/2016-TPL] 2. CBDT vide Notification 06th December, 2018 further clarifies that no tax deduction at source u/s ...

Posted Under: Income Tax |

Notification No. 14/2019-Income Tax Dated: 6th March 2019

Notification No. 14/2019-Income Tax [S.O. 1142(E)] 06/03/2019

Notification No. 14/2019-Income Tax Dated: 6th March 2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 14/2019 New Delhi, the 6th March, 2019 S.O. 1142(E).—On consideration of application of M/s Agricultural Development Trust, Baramati, Pune (‘ADT’) (PAN:- AAATB7892F) dated 10.03.2018 ...

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