income and expenditure account format


IT dept rejects Rs 2 lakh crore IDS declaration by a family from Mumbai

Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme IDS was announced in the Union Budget 2016 17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent 45 of the declared amount as tax surcharge a

Tax Investigations unearth misuse of Jan Dhan Accounts

Tax Investigations unearth mis use of Jan Dhan Accounts Account holders once again urged by CBDT not to consent to any kind of mis use of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements Investigation being conducted by the

No seizure of gold jewellery upto 500 grams per married lady and 250 gm for unmarried

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws Second Amendment Bill 2016 is totally unfounded and baseless In the wake of Taxati

RBI advises banks not to trust guidelines being circulated in social media

Information from Unauthenticated Sources Advisory to banks RBI 2016 17 166 DCM Plg No 1500 10 27 00 2016 17 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Cooperative Banks State Cooperative Banks Dear Sir Info

ICAI President's Message - December 2016

My dear professional colleagues Indian accountancy profession has been acting responsibly offering its complete support to the Government of India in its initiatives particularly those relating to economy More recently we played a very crucial role in the Governments anti black money drive Income De

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income tax e file

I knew to file income tax before 2years but now I didn t able to understand how to file individual it return can any body tell me or share me the process of filling and provide any file format please

condonation format

anyone provide format for condonation in deley in filing form 109 on the basis of medical emergency

condonation format

sir can anyone provide me format of condonation letter for deley in submission of form no 109 reason for condonation is medical emergency with me please anyone provide me format

Exempted income

I have received Moneyback Policy worth Rs 10 000 Under which section is it eligible for exemption

Financial accounting



Income tax liability

Dear Friends My question is related to Farming of Fish My one client is doing farming of ZINGA Fish I want to know that is this Zinga Farming Income is Taxable under income tax act If yes than Is Tax calculation is simmilar to regular method or is there any special method is provided by goverment If

Bookkeeping, accounting taxation practise

My Qualification is M Com having 20 yrs experience as an accountant presently as Senior Accounts manager in a reputed Pvt ltd Co I would like to start my own Practise as Bookkeeping and Accounting taxation May I have to take any permision from govt authority and I need guidence in this regard Thank

Itr-4s sugam, 44ad and income from other sources

Hello I run a grocery shop and my turnover is less then 1crore and I want to file income tax return by filling form ITR 4S Sugam to benefit from 44 AD I also earn small commissions regularly now my question is how can I declare this commission amount in ITR 4S Sugam form I know that commissions will

Income tax query

I bought a property in 2003 on cash payment of Rs xxxxx though sale deed This sum was payed through personal savings accrued over time 2 3 years from withdrawls from bank which were kept at home Now Income Tax has asked to prove source of fund of this property My IT return for assessment year 2004 0

Format - notice for calling of meeting of board of directors

Hi You can download the Format of Notice for calling of Meeting of Board of Directors of the Company at the below link https www dokmart com documents notice for calling of meeting of board of directors info

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A complete list of Penalties under Income Tax Act, 1961

1 Penalty under Section 270A Penalty for under reporting and misreporting of income If during the assessment proceedings it is found that an assessee have under reported or misreported his income then penalty u s 270A will be imposed on the Assessee This is the harshest penalty that can be imposed b

Income Computation And Disclosure Standards - In Brief

Income Computation and Disclosure Standards ICDS Section 145 2 of the Income Tax Act 1961 confers powers to the Central Government to notify accounting standards to be followed by any class of assessee Exercising that power the Central Government introduced Income Computation and Disclosure Standard

Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961

Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o

Immunities under Income Tax Act, 1961 - In Brief

If a person co operates with tax department in disclosure of income the assessing officer normally grants immunity as permitted under the Income Tax Act However the final decision on whether to grant or not rests with the concerned tax authority where the appeal lies Here are the immunities availabl

Newly Inserted Section 270A Income Tax Act, 1961 - An analysis

Background of Section 271A The Income Tax Act has inserted sub section 7 in section 271 to provide as The provision of Section 271 shall not apply to and in relation to any assessment for the assessment year commencing on or after 01 04 2017 Due to the insertion of the said sub section in Section 27

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Updated on : 12/5/2016 5:39:11 PM


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