“Department must not take advantage of ignorance of assessee to collect more tax than what is legitimately due” - Circular issued prior to 1961 Act which is still relevant
CBDT Circular No. 14 (XL-35) dated 11/04/1955-Department must not take advantage ...
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The Blogs
TDS DUE DATE FOR FILLING 24Q IS EXTENDED
TDS DUE DATE FOR FILLING 24Q IS EXTENDED
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Conditions on tax compliances of undisclosed foreign income and assets
BMA circular15_2015
Conditions on tax compliances of undisclosed foreign income and assets
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HC now directed nodal officer to address grievances with regard to technical glitches taking place while uploading TRAN-1
HC now directed nodal officer to address grievances with regard to technical glitches taking place while uploading TRAN-1
GST : Where assessee was not allowed to upload declaration in form GST TRAN-1 due to technical glitches in GST common portal, ...
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Important update especially for Indian Constituent entities having US parent
Important update especially for Indian Constituent entities having US parent:
Central Board of Direct Taxes (CBDT) vide circular no 9/2018 issued today extends the time line to 31 March 2019 for filing CbC report by Indian Constituent entities ...
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Decision of Rajasthan High Court giving directions to CBDT for further extension for 15 days and waiver of interest u/s 234A:
Decision of Rajasthan High Court giving directions to CBDT for further extension for 15 days and waiver of interest u/s 234A:
Welcome judgement by Rajashtan High Court asking CBDT to reconsider date extension by another 15 days and also interest ...
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CBDT issues draft notification to provide Sec. 112A relief to off-market acquisitions
CBDT issues draft notification to provide Sec. 112A relief to off-market acquisitions
The Finance Act, 2018 has withdrawn the exemption under section10(38) of the Income-tax Act, 1961 and has introduced a new section 112A which provides that long-term capital gains ...
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CBDT Circulars to Minimize Litigation
CBDT Circulars to Minimize Litigation
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Filing returns of earlier years: Explore CBDT cirular No 9/2015 Dated 09.06.2015
Filing returns of earlier years: Explore CBDT cirular No 9/2015 Dated 09.06.2015
Despite so many advertisement & vast awareness created by the social media, there are still lot many tax payers who have failed to file the income tax return ...
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Processing of Returns under section 143 of the Income Tax Act, which are pushed to the Assessing Officer by CPC
Processing of Returns under section 143 of the Income Tax Act, which are pushed to the Assessing Officer by CPC
F.No. 225/53/2018/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, New Delhi,dated the 28th of March, 2018ToAll ...
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CBDT issues Circular explaining Provisions of the Finance Act 2017 applicable FY 2017-18 AY 2018-19 onwards
CBDT Circular
CBDT Circular -CBDT issues Circular explaining Provisions of the Finance Act 2017 applicable FY 2017-18 AY 2018-19 onwards
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CBDT circular on 143(1) (a)(vi) adjustment.
CBDT circular
Sub-clause (vi) of clause (a) of sub-section (1) of section 143 of the Income-tax Act,. 1961 ('Act') as introduced vide Finance Act, 2016, w.e.f. 01.04.2017, while processing the return of income, prescribes that the total income or loss ...
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Prosecution proceeding by Income Tax Department increased by 184% CBDT
Prosecutions proceedings in case of tax evaders increased by 184% during FY 2017-18: CBDT
MISCELLANEOUS - SHARP INCREASE IN PROSECUTION OF TAX EVADERS BY INCOME-TAX DEPARTMENT
CBDT PRESS RELEASE, DATED 12-1-2018
The Income Tax Department has accorded the highest priority to tackle ...
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Tax Treatment of Interest received from Capital Gain Deposit Account Scheme !!
The tax treatment of interest of capital gain account scheme is cover by Rule 8 of the Capital Gain Deposit. Account Scheme-1988 which reads as under:
Interest.
(1) Interest at such rate as may be specify by the Reserve Bank ...
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CAPITAL GAINS ACCOUNTS SCHEME-1988 FOR SAVING LONG TERM CAPITAL GAIN TAX
CAPITAL GAINS ACCOUNTS SCHEME-1988, [GSR 724(E), DATED 22-6-1988]
CAPITAL GAINS ACCOUNTS SCHEME, 1988 [GSR 724(E), DATED 22-6-1988]
In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B, sub-section (2) of section 54D, sub-section (4) of section ...
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CBDT BANS ADJOURNMENT BY DR’s IN ITAT WITHOUT SUBSTANTIAL CAUSE
CBDT BANS ADJOURNMENT BY DR's IN ITAT WITHOUT SUBSTANTIAL CAUSE
The Delhi High Court in Showa Corporation vs. Dy. Commissioner of Income Tax passed strictures against the practice of the Departmental Representatives seeking adjournment before the Tribunal on frivolous grounds ...
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IT Judgement CIT vs. Dr. Arvind S. Phake (Bombay High Court)
S. 2(47)(v): Immovable property can be regarded to have been transferred on the date of execution of the Development Agreement and irrevocable General Power of Attorney only if the terms indicate that complete control is given to the developer. ...
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It Judgement CIT vs. Rajasthan And Gujarati Charitable Foundation Poona (Supreme Court)
section 11(1)(a)
S. 11(1)(a) vs. 32: Even if the entire expenditure incurred for acquisition of a capital asset is treated as application of income for charitable purposes u/s 11(1)(a) of the Act, the assessee is also entitled to depreciation u/s ...
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