Income Tax

GST Coming……Are your IT systems compliant to handle GST? 2 min read

• Income Tax

GST Coming……Are your IT systems compliant to handle GST?

Rajbir Chawla 8 years ago

Come GST and various assessees would need to put in place a mechanism  to have correlation between every entry. Most companies would need to upgrade... Read More

Income Tax Department issues a format for Employee to declare his savings for Income Tax 1 min read

• Income Tax

Income Tax Department issues a format for Employee to declare his savings for Income Tax

Manager 8 years ago

Income Tax Department has made mandatory for employee to fill Form 12BB of income tax act and to share same with his employer  to consider the... Read More

Black Money: Award up to Rs.15 lakh for Information against Tax Evaders 3 min read

• Income Tax

Black Money: Award up to Rs.15 lakh for Information against Tax Evaders

Manager 8 years ago

The Black Money Menace in India Black money is a known as money earned from the market by various means for which none of the... Read More

If Assessing Officer fails to provide the reasons for reopening, the reassessment order is unsustainable in law 5 min read

• Income Tax

If Assessing Officer fails to provide the reasons for reopening, the reassessment order is unsustainable in law

Manager 8 years ago

The ITAT, Delhi Bench, New Delhi in the case of in Sri Inderjeet Sachdeva having PAN: ALFPS8175E vs. DCIT, Range-1, C/o M/s Shubham Nursing Home,... Read More

A reopening verdict of Domestic Tax 2 min read

• Income Tax

A reopening verdict of Domestic Tax

Anuj Mathur 9 years ago

A case was between Ujagar Holdings Pvt. Ltd and ITO (ITAT Delhi). It was a case of reopening a verdict related to Domestic Tax. The... Read More

Even if AO conducts inquiry for taxability of share capital receipts u/s 68, CIT can revise order u/s 263 4 min read

• Income Tax

Even if AO conducts inquiry for taxability of share capital receipts u/s 68, CIT can revise order u/s 263

Baisakhi Ganguly 9 years ago

The Calcutta High Court in the case of Rajmandir Estates Private Limited vs. Principal Commissioner of Income Tax, ITAT NO.113 OF 2016, held that even... Read More

CBDT issues Instruction directing Assessing Officers to follow the time limit of section 154 2 min read

• Income Tax

CBDT issues Instruction directing Assessing Officers to follow the time limit of section 154

Baisakhi Ganguly 9 years ago

The Central Board of Direct Taxes has issued an Instruction on 15.02.2016 being No. 01/2016 wherein it has directed the Assessing Officers to strictly follow... Read More

CBDT issues Circular relating to starting of Limitation period for Penalty Proceedings 3 min read

• Income Tax

CBDT issues Circular relating to starting of Limitation period for Penalty Proceedings

Baisakhi Ganguly 9 years ago

The Central Board of Direct Taxes (CBDT), Ministry of Finance, has issued a Circular being No. 09/DV/2016 on 26.4. 2016 in which it has expressed... Read More

Domestic Tax – TDS in Case of Secondment Agreement 2 min read

• Income Tax

Domestic Tax – TDS in Case of Secondment Agreement

Anuj Mathur 9 years ago

The case emphasizes the conflict that took place between Mahanagar Gas Ltd. and GAIL & British Gas. The case belongs to the Domestic Tax genre,... Read More

Changes in the law relating to levy of penalty in the Finance Bill, 2016 4 min read

• Income Tax

Changes in the law relating to levy of penalty in the Finance Bill, 2016

Manager 9 years ago

The Finance Bill, 2016 aims to make drastic changes to the law relating to levy of penalty for concealment of income and furnishing of incorrect... Read More