A Developer who opted for the said Composition Scheme was required to pay 1% composition amount in lieu of the tax, on the agreement (i.e. registered) value or the value determined for the purpose of payment of Stamp Duty, whichever is higher
Transfers & posting of Deputy Assistant Commissioner of Income Tax in the O/o Pr.CCIT (Int. Tax) Delhi-reg. F.No.Pr.CCIT (Intl Tax.)/60/1/2017-18/560 Dated: 30.05.2017
Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (Deductor) or Form 15G/15H has to be submitted each and every time the payment is due to be received from the deductor.
Provisional Ids and Access Token of Phase 5 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials.
SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“SEBI ILDS Regulations”) , govern public issue of debt securities and listing of debt securities issued through public issue or on private placement basis, on a recognized stock exchange.
It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI.
Procedure for Acceptance of Statement of Financial Transactions from Sub-Registrar Office and Post Offices (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
It has been observed that in case of consignments/ bills of entry of importers accorded DPD facility and which have not been facilitated by RMS and marked by system for ‘Assessment and Examination’, the Assessing Group orders for a certain percentage of those goods for examination.
In furtherance of SEBI’s endeavor to bring all the intermediary related processes (registration, reporting and other requests) to the online platform, it is hereby informed that an online system is introduced for Portfolio Managers.
It has been brought to the notice of CBDT that in cases of minors whose both the parents have deceased, TDS deductors/Banks are clubbing the interest income accrued to the minor in the hand of grandparents and issuing IDS certificates to the grandparents, which is not in accordance with the law as the Income-tax Act envisages clubbing of minor’s income with that of the parents only and not any other relative.
