computation of total income format


PAN details of CAs to avoid blocking of e-filing account by the IT Dept

I Members who have not shared their PAN with ICAI It has been informed by the Income Tax Department that the e Filing account of the members who have not provided their PAN details to the Institute but are using e filing account with Income Tax Department will be blocked by the Income Tax Authoritie

Unique pin code allotted to CPC Bangalore for submission of ITR V

A unique PINCODE 560500 has been allotted to Centralized Processing Centre CPC Income Tax Department located in Bengaluru by the Department of Post Taxpayers can henceforth address their mails to Centralized Processing Center Income Tax Department Bengaluru 560500 for the purpose of submission of IT

Over 60000 persons identified for investigation into excessive cash sales

Over 60 000 persons including 1300 high risk persons identified for investigation into claims of excessive cash sales under Central Board of Direct Tax CBDT s Operation Clean Money OCM Extensive enforcement action by the Income Tax Department ITD has led to seizures worth over Rs 818 crore and detec

Tax Exemption to Startups

Various tax exemptions have been given to Startups in the recent past Followingdirect tax incentives were provided in Income tax Act 1961 the Act to promote Start ups through Finance Act 2016 Introduction of new section 54EE in Income tax Act 1961 to exempt investmentof long term capital gains by an

Draft of Notification to be issued under third proviso to the clause (38) of section 10 of the IT Act

Draft of Notification to be issued under third proviso to the clause 38 of section 10 of the Income tax Act 1961 In exercise of the powers conferred by third proviso to the clause 38 of section 10 of the Income tax Act 1961 43 of 1961 the Central Government hereby for the purposes of the said provis

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Format of Buisness Purchased account

What is the format of Business purchased account in case of amalgamation of partnership firm


Dear Experts I am having the following query A person is a non resident of India He is a resident of Nepal He receives income from business from companies located in Hong Kong Bangkok etc The income is credited in Indian Bank account directly Is he liable to pay income tax on such income received in

Wrong information in form 112

I have entered wrongly as Degree correspondence where As it is regular how can I change It will there be any problem further

Income from business & professions

If an entrepreneur had fixed deposit with bank and he took overdraft over such fixed deposit Suppose next year he decided to close overdraft with bank by utilizing his fixed deposit and after payment of such overdraft balance amount of fixed deposit is transferred to his current account In such kind

New sec 269st & & 271da inserted into income-tax act, 1961,

Need your views on below mentioned phrase used in the Finance Act 2017 with regard to Sec 269 ST 271 DA What is meant by one person What is meant by one single day What is meant by one transaction OR Occasion from a person What are its effect with the transaction relating to Tenant Property while di


Formation of a Cyber cafe.

How to open a cyber cafe in India

Additional information required by income tax department

Happy evening to all I received e mail from income tax department regarding additional information required for cash transactions 2016 Ihave five file to upload but i uploaded one file now i am notable to upload anotherfiles only one file accepted andno option to upload another files what to do now

Loan proposal formate

Dear Expert plz provide personal loan proposal format

Intrest income on premature closer of fixed deposit

I have made a bank fixed deposit in Feb15 with my bank for 5 years 10 PA The interest was on Accural basis and the TDS on interest income was deducted by the bank every quater till june17 But due to some reason I have to fore close the FD in July17 The has deducted certain amount from the accured in

Annual information return (F.Y. 2015-16)

Dear Sir mamI am to file an AIR of company in which there are few foreign investors But PAN of those investors are not available so make it clear how to deal with such situation also illuminate about form 60 61 and 61A

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Presumptive income scheme for professionals - An insight

Introduction The Finance Act 2016 has introduced a new presumptive income scheme for professionals by inserting a new section 44ADA into the Income Tax Act 1961 The new section has come into force with effect from 01 04 2017 i e from AY 2017 18 So from AY 2017 18 professionals will have an option to

New Income Tax Rules - What you must know?

Hail the new financial year 2017 18 and ITR never looked sleeker and simpler While GST remains the star of this year the ITR 2 2A and 3 mergers is no less important The Finance Minister did what he promised and halved the income tax rates for the income group Rs 2 5 5 lakhs As an assessee these are

Nine major changes in the New income-tax returns

Arjuna Fictional Character Krishna the Income Tax department has introduced the new forms for filing the income tax Returns in the financial year 2016 17 The question is what changes have they made in these forms On the occasion of Ram Navmi on 4th April lets discuss the Nine major changes in ITR Kr

Waiver of interest charged u/s 201(1A)(i) of the Income Tax Act 1961

CBDT has issued guidelines for waiver of interest charged u s 201 1A i vide circular No 11 2017 dated 24 03 2017 According to this circular CBDT empower to Chief Commission of Income Tax and Director General of Income Tax may reduce or for waiver of interest charged u s 201 1A i of the Act in the fo

Changes in Income Tax law from 1st April 2017

1 Limit for payment of expenses by cash Both capital and revenue expenditure reduced from Rs 20 000 to Rs 10 000 per day in aggregate per person 2 No Person shall receive an amount of two lakh rupees or more by cash Sec 269ST 3 For below Rs 2 crores turnover cases For Non cash sales through Digital

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Updated on : 4/21/2017 6:56:12 PM

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