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Govt reiterates information shared under IDS will not be shared with any authority


Government reiterates that information contained in a valid declaration under the Income Declaration Scheme 2016 is confidential and shall not be shared with any authority The Income Declaration Scheme 2016 the Scheme provides an opportunity to persons who have not paid full taxes in the past to com

Further instruction regarding Income Declaration Scheme


Instruction No 8 of 2016 F No 142 8 2016 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 15th September 2016 To All The Principal Chief Commissioners of Income tax Sub The Income Declaration Scheme 2016 reg The Income Declaration Scheme 2

CBDT clarifies due date extension also applicable to Accounts audited under sec 44AB


F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block New Delhi Dated the 14th of September 2016 Clarification req u s 119 of the Income tax Act 1961 dated 9th September 2016 Central Board of Direct Taxes vide order u s 119 o

Due date for filing ITR extended to 17th Oct from 30th Sep


Due date for filing of Income tax returns by tax payers whose accounts are required to be audited under IT Act has been extended to17th Oct F No 225 195 2016 1TA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block 1TA II Division New Delhi the9t

RBI directs banks to accept cash under IDS scheme


Income Declaration Scheme 2016 Acceptance of Cash Over the Counter RBI 2016 17 62 DBR No Leg BC 13 09 07 005 2016 17 September 8 2016 The Managing Directors Chief Executive Officers All Scheduled Commercial Banks including RRBs Dear Sir Income Declaration Scheme 2016 Acceptance of Cash Over the Coun

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Experts Opinions

Income tax filing of deceased husband in the year death


Can we file the Income tax return of deceased per by claiming TDS deducted in his PAN by siging the ITR by his legal Representative What is the steps to file

Income declaration schema 2016


what is the maximum no of Installment available to pay tax under IDS 2016 till the due date of 30 11 2016

Excel format for agewise outstanding


Hi Can somebody please send me a excel format for agewise outstanding statements Please send me the same at the earleist Thanks

Exchange difference - other income


As I have started updating export sales as per shipping bill issued by the custom authorities but there are so many consultants who have advised me to update the export sales as per the realized value against the export sale invoice because of which gross profit will look much bigger and there would

Section 44ab of income tax act 1961- tax audit


Dear All With ref to above section my query is A private Limited Company having Consultancy Service Income more than Rs 25 Lacs in F Y 2015 16 Whether the above section and Tax Audit be applicable on the Company Will above be included in busines Income Limit 1 Crore or n professional Income Rs 25Lac

Discussion

Past due income tax.

If someone has not filed taxes during previous years can they do so now The option does seem to be available in the e filing website If it turns out there was tax payable What would be the likely penalty Regards

Deduction available on special income

Sir If any individual has special income like lottery or horse race etc then Can he get deduction from u s 80c 80u which will applicable for him I know that this tds not refunded But deduction will be available Pls clarify me

Salary paid to partner ,disallowed to the firm as it exceeds the limit. the same wrongly taken as business income by partner in his return

Sir the firm where i am a partner was disallowed salary paid to me as they had loss and my salary exceeded the allowable limit However i missed this information and claimed as salary in my return as business income and paid tax accordingly This case is for a y 2013 14 I did not file any revise retur

Formats of board resolutions

Board Resolution Acceptance of Fixed Deposit from Members of the Company Board Resolution Acceptance of resignation of Managing Director Whole Time Director Board Resolution Adoption of Code of Conduct for Independent Directors and Code of Conduct for Directors Board Resolution Adoption of Common Se

Salary income + family pension

Sita govt employee aged 45 years are earning a salary of 4 50 000 yearly and she is also in receipt of family pension of 1 44 000 yearly How the tax liability will be calculated under section 57 family pension is deductible 15 000 or 1 3rd of such inc

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Articles

Income Disclosure Scheme 2016 (IDS 2016) - An Opportunity


Income Declaration Scheme 2016 which is famously known as IDS 2016 IDS 2016 is an Opportunity to the Tax Evaders This small attempt has been made to analyze the various aspect of this Scheme This article is not based on the technicality of the scheme section by section but in simple way to make one


All about Income from Undisclosed Sources


In this article you can gain complete knowledge about various provisions relating to tax treatment of Undisclosed Sources Section 68 The provisions relating to tax treatment of cash credit are given in section 68 What is CASH CREDIT Any sum found credited in the books of the taxpayer for which he of


4 Psychological mistakes to avoid while preparing for Income Tax!


Introduction Love it or hate it but you cannot ignore it Income tax is easy if you understood it well otherwise it is the most complex subject you will ever see Once the great scientist Albert Einstein said the hardest thing in the world to understand is the income tax But you have all the resources


Income Declaration Scheme, 2016 - A positive move towards strengthening Indian economy


With the objective of freeing India from the menace of black money and to increase revenue of the government a new scheme has been introduced by the Indian Government through Finance Bill 2016 referred as Income Declaration Scheme 2016 IDS 2016 for the persons who have not disclosed their whole inco


Income Tax Return ('ITR') - A must for CA


Greetings of the day to all the members of CCI family After a gap of 2 years I am writing this article keeping in mind my relationship with the CACLUBINDIA family I have seen many Chartered Accountants CAs as well as aspirants who though have completed their article ship but still find it difficult


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Updated on : 9/20/2016 4:30:19 PM


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