The Central Board of Direct Taxes (CBDT) has notified all the provisions of the agreement entered into between India and Hong Kong for the avoidance of the double taxation and the prevention of fiscal evasion with respect to taxes on Income – CBDTIncome TaxThe Central Board of Direct Taxes (CBDT) has notified all...Team Taxcharcha28/12/201828/12/20180
CBDT Extends the due date for furnishing of report under section 286 (4) of the Income-tax Act, 1961 – Circular 9 of 2018 dated 26.12.2018Income TaxCBDT Extends the due date for furnishing of report under...Team Taxcharcha28/12/2018
The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be drawn while invoking the provision of section 50C of the Act. – Bombay High CourtIncome TaxThe assessee can be taxed only on the gain which...Team Taxcharcha26/12/2018
GST council decides to reduce tax rate from 28%to 18% Monitors & TVs , Power Banks, Digital camera and video Cameras – GST councilGSTGST council decides to reduce tax rate from 28%to 18%...Team Taxcharcha22/12/2018
In terms of section 194A(1), The time of deduction of tax u/s 194A(1) is undisputedly time at which interest is to be credited to account of payee or when it is paid in cash/cheque or draft therefore, deduction of tax at source on interest income before close of financial year concerned as provided under section 194A(4) would not obligate assessee bank from penalty for not deducting tax at source at time of credit of said income in payee’s account – HC AllahabadIncome TaxIn terms of section 194A(1), The time of deduction of...Team Taxcharcha21/12/2018
Income TaxLatestLawThere is no bar in filing revised return of income during the assessment proceedings u/s 143(3) of the Act – ITAT MumbaiTeam Taxcharcha26/06/201826/06/2018 by Team Taxcharcha26/06/201826/06/20180680Held : There is no bar that an assesse cannot file a revised return of income after issuance of notice u/s 143(2) of the Income...
Income TaxLatestLawUncategorizedInterest-free Loan from employer taxable as Perquisite: ITAT MumbaiTeam Taxcharcha20/06/2018 by Team Taxcharcha20/06/201801068Held: The value of the interest free loan is taxable in the hands of the employee as perquisite as per section 17(iii)(c) of the Income...
LatestLawNotification under FCRA specifying the Officers for compounding the offencesTeam Taxcharcha07/06/2018 by Team Taxcharcha07/06/20180812MINISTRY OF HOME AFFAIRS NOTIFICATION New Delhi, the 5th June, 2018 S.O. 2291(E).—In exercise of the powers conferred by sub-section (1) of Section 41 of...
GSTLatestLawGoods and Services Tax Settlement of Funds (Second Amendment) Rules, 2018Team Taxcharcha04/06/2018 by Team Taxcharcha04/06/20180665...
