Income-tax authority means a Commissioner, a Joint Commissioner, a Director, a Joint Director, an Assistant Director or a Deputy Director or an Assessing Officer, or a Tax Recovery Officer, and for the purposes of clause (i) of subsection (1), clause (i) of sub-section (3) and sub-section (5), includes an Inspector of Income-tax.
Income Tax : Q1. Whether notice is required to be issued to the assessee before initiating survey? No, the section does not require prior noti...
Income Tax : The amount on claim or maturity under a keyman insurance policy is not exempt under Section 10 (10D) of the Income Tax Act if the ...
Income Tax : Section 245-O provides for the constitution of an Authority for Advance Rulings, and constitution of its benches, for giving advan...
Income Tax : Rajasthan Tax Consultants' Association, Jaipur has requested to CBDT Chairman for extension of date of filing of Tax Audit Report ...
Income Tax : Budget 2017: It has been decided by the Government to merge the Authority for Advance Ruling (AAR) for income-tax, central excise,...
Income Tax : 1) Go to the Income Tax department’s e-filing website and click on “Notice/Order Issued by ITD” button on the le...
Income Tax : Rule 10VA provides for mechanism of fund being approved by the Board for purpose of section 9A. The fund seeking approval is requi...
Income Tax : Income Tax authorities are planning to broaden the tax base, seek greater exchange of information under the tax treaties and provi...
Income Tax : “The German Tax authorities have provided to the Indian Government information available with them regarding accounts concerning...
Income Tax : The Supreme Court (SC) last week set aside the judgement of the division bench of the Madras high court in a case raising the ques...
Corporate Law : Delhi High Court rejects a PIL filed by Ankur Gupta seeking a probe into alleged money laundering and tax evasion, citing previous...
Income Tax : Delhi HC explains why NFAC cannot invoke Section 144B of the Income Tax Act if a claim is not lodged within the Corporate Insolven...
Income Tax : S. 254 D (4A) was amended by the Finance Act 2007 to provide that if in respect of an application filed before 1.6.2007, the Settl...
Income Tax : 20. An Income Tax Officer while passing an order of assessment performs judicial function. An appeal lies against his order before...
Income Tax : 19. We have given careful thought to the rival submissions of the parties and examined them in the light of material available on ...
Corporate Law : G.S.R. 100(E) (1) These rules may be called the Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chai...
Income Tax : Notification No. 65/2010-Income Tax In exercise of the powers conferred in sub-sections (1) and (2) of section 120 of the Income-t...
Income Tax : Notification No. S.O. 62/2010-Income Tax In exercise of the powers conferred in sub-sections (1) and (2) of section 120 of the Inc...
Income Tax : Notification No. 117 /2009 - Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 117 of the Inc...
Income Tax : Notification No. 74/2009 & Notification No. 75/2009 - Income Tax Section 120(1) and (2) of the Income-tax Act, 1961 - Jurisdictio...
Delhi High Court rejects a PIL filed by Ankur Gupta seeking a probe into alleged money laundering and tax evasion, citing previous dismissal and IT Department’s investigation.
Delhi HC explains why NFAC cannot invoke Section 144B of the Income Tax Act if a claim is not lodged within the Corporate Insolvency Resolution Process (CIRP) timeframe. Detailed analysis based on M Tech Developers Pvt. Ltd. Vs National Faceless Assessment Centre.
Q1. Whether notice is required to be issued to the assessee before initiating survey? No, the section does not require prior notice of the survey to be given to the affected person – N.K. Mohnot v. Dy. CIT [1995] 215 ITR 275/83 Taxman 238 (Mad.). Q2. Which are the authorities empowered to conduct a survey? Section 133A of the Income-tax Act, 1961 empowers the following income-tax authorities to conduct a survey:— (a) Commissioner of Income-tax, (b) Joint Commissioner of Income-tax,
The amount on claim or maturity under a keyman insurance policy is not exempt under Section 10 (10D) of the Income Tax Act if the company is paying the premiums. However, in case the policy has been assigned to the keyman and the keyman is paying the premiums, then the claim/maturity proceeds are exempt under Section 10 (10D).
1) Go to the Income Tax department’s e-filing website and click on “Notice/Order Issued by ITD” button on the left side or visit the following link- https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/AUTHNoticeLink.html?lang=eng 2. You can search any income tax notice online by any of two methods below at above link- 1. With Document Number 2. With PAN, Assessment year, Notice […]
Section 245-O provides for the constitution of an Authority for Advance Rulings, and constitution of its benches, for giving advance rulings under Chapter XIX-B of the Act or under Chapter V of the Customs Act, 1962 or under Chapter IIIA of the Central Excise Act, 1944
Rajasthan Tax Consultants’ Association, Jaipur has requested to CBDT Chairman for extension of date of filing of Tax Audit Report and ITR in Audit cases for A.Y. 2017-18 to 30th November 2017
Budget 2017: It has been decided by the Government to merge the Authority for Advance Ruling (AAR) for income-tax, central excise, customs duty and service tax. Accordingly, necessary amendments, have been made to Chapter XIX-B to allow merger of these AARs.
Rule 10VA provides for mechanism of fund being approved by the Board for purpose of section 9A. The fund seeking approval is required to make an application to Member (Income-tax), CBDT. A committee as notified by the Board is to examine the application and submit its recommendations regarding grant of approval or otherwise and the conditions, if any, subject to which such approval would be granted.
G.S.R. 100(E) (1) These rules may be called the Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chairman) Rules, 2016
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