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...
Notification No. 74/2009 & Notification No. 75/2009 – Income Tax Section 120(1) and (2) of the Income-tax Act, 1961 – Jurisdiction of income-tax authorities In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 196I (43 of 1961), the Central Board of Direct Taxes hereby directs that Chief Commissioner specified in column (2) of the Schedule below, having his headquarters at the place specified in the corresponding entries in column (3) of the said Schedule, shall exercise the powers and perform the functions in respect of such territorial area
As per the changes proposed by the new code, a non-profit organisation will have to pay tax at a rate of 30% as per its net worth when it converts itself into an entity that does not qualify as a non-profit organisation. In fact, tax would be levied even if it fails to transfer upon […]
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 Settlement Commission did not pass a final order before 31.3.2008, the proceedings would abate. S. 245 HA (3) provided that the consequence of such abatement was that the income-tax authorities could, in making the assessment
Learn what Permanent Account Number (PAN) is and why it is compulsory to obtain and quote PAN. Understand its significance in income tax, business, and more.
Discover the tax benefits for small businesses in Union Budget 2009. Simplified tax code, exemption from compliance procedures, and more.
20. An Income Tax Officer while passing an order of assessment performs judicial function. An appeal lies against his order before the Appellate Authority. A Revision Application would also lie before the Commissioner of Income Tax. It is trite that the jurisdiction exercised by the Revisional Authority pertains to his Appellate jurisdiction. See Shankar Ramchandra Abhyankar vs. Krishnaji Dattatraya Bapat
Notification No. 73/2009 – Income Tax Section 118 of the Income-tax Act, 1961 – Control of income-tax authorities – Notified subordinate officers In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Income-tax authorities specified in column (3) of the Schedule below shall be subordinate to the Income tax authority specified in column (2) of the said Schedule.
Notification No. 47/2009 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, videnumber S.O. 2022(E), published in the Gazette of India, Part II, Section
The demand on the tax administration has been growing on account of increase in the volume of work. The widening and deepening of the tax base has resulted in substantial increase in the number of taxpayers. To cope with the sheer volume of work and render timely service to the taxpayer, the Department has been […]
There is a prescribed dispute resolution mechanism under the Income-tax Act. In this regard, the Central Board of Direct Taxes have issued instructions from time to time directing Departmental Officers to not file an appeal if the tax effect is less than the monetary limit prescribed by it. The Hon’ble Supreme Court in M/s. Berger […]
