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Income Tax - Article contains summary of Important Income Tax Notifications, Circulars, other amendments and updates for the Month of October 2019 at one place. This Month update includes CBDT clarifications/updates on set off of brought forward loss due to additional depreciation & MAT credit if companies opt for 22% tax, CBDT exemption to ...
Read MoreIncome Tax - The objective of this document is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments and updates) for the Month of September 2019 at one place. The same are being summarized below, along with certain important press release and clarifications. 1. Central Government prescribed E-assessment Scheme, 2019 f...
Read MoreIncome Tax - THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 1. Tax on income of certain domestic companies- Option for Domestic Company for concessional tax rate of 22% (excluding surcharge & cess) subject to the condition that they will not avail any exemption/incentive. Exemptions / benefits that cannot be availed are listed below: Additional Dep...
Read MoreIncome Tax - Through this article Author gives a simplified version of circulars and Notifications issued by CBDT after Budget Presented by Finance Minister in February 2019 till 26th September 2019. A. Summary of Income Tax Circulars (Feb-Sep 2019) I. 3rd Corrigendum to Income Tax Circular No. 1/2019 dated 08/02/2019 Clarification to Sec 80 TTB is...
Read MoreIncome Tax - NEWS INTERNATIONAL 1. Australian Taxation Office publishes important guidance on cross-border tax measures 2. Singapore, Turkmenistan sign comprehensive tax treaty 3. Zimbabwe proposes amendments to thin capitalization rules. 4. Bulgarian mandatory transfer pricing documentation rules enacted 5. USA and Curacao negotiating country-by-coun...
Read MoreIncome Tax - Income Tax Department conducted searches on a prominent business group in Pune on 06/11/2019 under the Income Tax Act, 1961. The searches were conducted at various places covering the cities of Pune, Mumbai, Nagpur, Delhi, Bengaluru and Noida....
Read MoreIncome Tax - Income Tax Department conducted a search in the case of a businessman in Pune on 04/11/2019 and made a high cash seizure. The search was conducted at the residence of the businessman....
Read MoreIncome Tax - All communication from Income Tax Department must have a computer generated DIN w.e.f. Oct 01, 2019 With effect from October 01, 2019, any communication from Income Tax Department without a computer-generated DIN i.e. Documentation Identification Number, be it a notice, letter, order & summon or any other correspondence,would be trea...
Read MoreIncome Tax - SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING AND THE CONVENTION BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE COUNCIL OF MINISTERS OF SERBIA AND MONTENEGRO FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL (a...
Read MoreIncome Tax - On this 159th Income Tax Day, I extend my best wishes to each and every member of the Aaykar Parivar and their families. I feel honoured leading such a glorious and professional service, made even more special by the untiring contribution of each and every employee of the Department....
Read MoreITO Vs. Accurum India Pvt. Ltd. (ITAT Chennai) - The issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personnel and supplying the data thereof to its parent company in US is eligible for deduction under sec.lOA or not read with the Board's Circular dated 26.9.2000. In this connec...
Read MoreNotification No. 96/2019 [G.S.R. 836(E)] - (11/11/2019) - Unauthorised colony means a colony or development comprising of a contiguous area, where no permission has been obtained for approval of layout plan or building plans and has been identified for regularisation of such colony...
Read MoreNo.18/65/2017-EO(SM.II) - (11/11/2019) - Empanelment of the following officers for promotion to the grade of Chief Commissioner of Income Tax (CCIT) in the Indian Revenue Service (Income Tax) in Level 16 in the Pay Matrix (Rs.205400-224400/-) for the panel years 2018 (Supplementary Panel) and 2019 (Regular Panel), w.e.f. the date of assump...
Read MoreNA - (11/11/2019) - On 07.11.2019, the Income Tax Department conducted search action under the Income-tax Act, 1961 in the case of a group of trusts that are running educational institutions in and around Chennai for the past thirty years. The institutes run by the group include a number of engineering colleges, polyte...
Read MoreNA - (11/11/2019) - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 11th November, 2019 PRESS RELEASE Income Tax Department busts a major racket of bogus billing & hawala transactions Income Tax Department carried out searches in the first week of November, 201...
Read MoreNo.18/44/2017-EO(SM.II) - (11/11/2019) - Empanelment of following officers for promotion to the grade of Principal Commissioner of Income Tax in the Indian Revenue Service (Income Tax) in- Level 15 in the pay matrix (Rs.182200-224100/-) for the panel years 2016-17 (Revised Panel), 2017-18 (Regular Panel) and 2018 (Regular Panel), w.e.f. th...
Read MoreNotification No. 96/2019 [G.S.R. 836(E)] - (11/11/2019) -
No.18/65/2017-EO(SM.II) - (11/11/2019) -
NA - (11/11/2019) -
NA - (11/11/2019) -
No.18/44/2017-EO(SM.II) - (11/11/2019) -
F. No. Pr. DGIT(S)/Tech/Time-barring E-assessment/2019-20 - (08/11/2019) -
Notification No. 95/2019-Income Tax [G.S.R .825(E)] - (06/11/2019) -
