Restriction of entry into Income Tax Office at Civic Centre, Delhi
In a precautionary measure by the Department, the entry to the Income Tax Office at Civic Centre, Delhi has been restricted as one Inspector working...
Category : Income Tax
Forms required to submit for availing benefit under ‘DIRECT TAX VIVAD SE VISHWAS’ Scheme will be available in the e-Filing soon
After the President gives accent to the Direct Tax Vivad Se Vishwas Act, 2020 on 17th March, 2020, the Income Tax Efiling Website has updated...
The Direct Tax Vivad Se Vishwas Act 2020
The Direct Tax Vivad Se Vishwas Act 2020 has received the assent from the President of India on 17-03-2020. To download and view the Act,...
ITR 1 and ITR 4 notified for the AY 2020-21
In a surprising move by the Income Tax Department, the ITR 1 and ITR 4 have been notified for the AY 2020-21. This is the...
PAN AADHAR linking extended by 3 month
On 30th December 2019, the Central Board of Direct Taxes (CBDT) has extended the due date of linking of PAN with AADHAR from 31st December...
Rupay enabled Debit card and UPI notified as prescribed mode of payment under section 269SU
With effect from 1st January 2020, every person carrying on business, if his total sales, turnover or gross receipts, as the case may be, in...
Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the provisions of section 57(iii) of the Income Tax Act, 1961 – ITAT Delhi
Crux : Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the...
Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the Act – ITAT Delhi
Crux : Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the...
Where no satisfaction note in the searched persons proceeding recorded separately, the jurisdiction assumed u/s 153C in the case of the assessee is not in accordance with provisions of section 153C – ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Delhi-1-2.odt” comments=”true” SVG=”true”] To download the complete order, click here ITA No.1720-Del-2015-ACIT vs. Gracious Project Pvt. ltd....
Where the order is passed ex parte making an addition of Rs. 6 Lacs, the case is remanded back to CIT(A) directing it to provide final opportunity of being heard to the assessee
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Delhi-1-1.odt” comments=”true” SVG=”true”]...
Where the notice issued u/s 271(1)(c) read with section 274 of the act does not specify whether the penalty is for concealment of income or for furnishing of inaccurate particulars of income, the same is bad in law and no penalty can be levied.
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Mumbai_1.odt” comments=”true” SVG=”true”]...
CBDT notifies Form 26QD and Form 16D for TDS under section 194M
The Central Board of Direct Taxes (CBDT) has notified the Form 26QD and Form 16D for the TDS deduction and deposition under section 194M vide...
All about National E-Assessment Scheme
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/10/E-Assessment-Scheme-Taxcharcha-1.odt” comments=”true” SVG=”true”]...
Key Takeaways from the Press Release by Ministry of Finance on 20th September, 2019
Any Domestic Company has an option to pay income tax at the rate of 22% provided that they will not avail any exemption/ incentive. The...
Notification no 63/2019-Cost Inflation Index for FY 2019-20
Central Board of Direct Taxes has notified the cost inflation index for the FY 2019-20 which is 289 vide notification no. 63/2019. To download the...
Notification no. 62/2019 – Giving effects to E assessment scheme 2019
To give effect to the E-assessment scheme, the Central Board of Direct Taxes has notified the notification no. 62/2019 to give effect to the E-assessment...
Notification No. 61/2019 – E-assessment scheme 2019
Central Board of Direct Taxes (CBDT) has notified the E-assessment scheme 2019 on 12th September 2019. In this scheme, the Government has laid down the...
Notification No. 60/2019 – CBDT notifies process for grant of approval for exemption under sub clauses 10(23C)
Central Board of Direct Taxes (CBDT) has notified the Forms for the purpose of grant of approval for the exemption under sub clause (iv), (v),...
Exception to monetary limits for filing appeals specified in any circular issued under section 268A of Income tax act
Central Board of Direct Taxes (CBDT) has issued the circular no. 23 of 2019 in which exception has been given for the monetary limit for...
Consolidated circular for assessment of Startups – Clarification by CBDT
On 30th August 2019, the Central Board of Direct Taxes (CBDT) has issued the consolidated circular for start ups in which various issues for start...
Clarification on TDS on cash withdrawals applicable from 1st September 2019 onwards
Central Board of Direct Taxes (CBDT) has released a clarification on 30th August 2019 in which the clarifications have been made regarding the applicability and...
CBDT clarifies eligibility of small start ups to avail tax holiday
The Central Board of Direct Taxes (CBDT) has issued the clarification on the eligibility of small start ups to become eligible to avail the tax...
Clarification in respect of filling-up of the ITR forms for the Assessment Year 2019-20 -CBDT
Question.1: I am a non-resident. The Taxpayer Identification Number (TIN) is not allotted in my jurisdiction of residence. How do I report the same in...
The Banning of Unregulated Deposit Schemes Act, 2019
The President of India has given the assent to the Banning of Unregulated Deposit Schemes Act 2019. To download the act, click here The Banning...
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