indemnity bond format income tax refund

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BRICS countries expresses commitment to ensure fairness of the International Tax System


Joint Communiqu issued at the end of the two day Meeting of the BRICS Heads of Revenue and Experts on Tax Matters at Mumbai today Heads of Revenue express their continued support to all international initiatives towards reaching a globally fair and universally transparent tax system Reiterate their

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

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Experts Opinions

whether rental income by a company come under the head PGBP or IFHP


Our company receive rental from commercial let out to emirates of which property belong to company name Company management want it be a part of pgbp but auditor says it should be shown under ifhp for this reason company not avail to claim business expenditure highly and we have to claim only straigh

taxation of income from sale of milk


income from sale of milk whether taxable as businesses income or other income and if taxable as businesses income how accounting entry would be passed in books as the assesse have cows which is a source of milk for the assesse and how to show cows as assets in books

Ipcc Taxation


Dear Sir Madam I need Neeraj Arora Taxation Classes Video Lecture Kindly let me know Thanks

sale invoice format under west bengal VAT under composition scheme


my client is a furniture trader and having turner under prescribed VAT composition scheme kindly make me understand format of sle invoice regards

Income tax on rent recived by tenant by subletting


This is a question regarding the Income on house property Person A lease his house H to his mother B A doesnt lives in house H but B lives in that house There is nominal lease amount X Now B gives part of the house H to grandson C on rent C pays a hefty amount Y of rent to B Now if B shows the incom

Discussion

Tax applicability on mineral water can

One of my friend started a business He buys mineral water cans from other company places his own brand sticker on it and sells it to people His query is is there any tax liability on afore said case if so what kind of registrations are to be taken We are from andhra pradesh

Tax exemption (section.?)on salary paid to "unicef" employee

Hi My friend is drawing salary from UNICEF and they simply issed one lettermentioning that total salary drawn during the year and that salary is exempt feom tax My friend wants to file Return please suggest me that under which section salary from unicef is exempt from tax and which itr form has to f

Taxation Ipcc

Dear Sir Madam I need Neeraj Arora Taxation Classes Video Lecture Kindly let me know Thanks

Capital gain on redemption of 54ec bonds

Plz inform whether redemption of NHAI REC Bonds after 3 years will attract any capital gain or is it chargable to tax

Meaning of serve u/s 153 of income tax act 1961

what is the meaning of serve u s 153 for the purpose of completion of assessment as per 147

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Articles

How to Promote Cashless Economy & Tax Compliance


Our government is taking various steps to move the society to cashless economy as well as compliance of tax laws by them Although it needs various reforms in various economic laws and the results cannot be achieved overnight yet some change in Income Tax law for individuals and HUFs can turn the sit


Input tax credit under GST


style2 text align justify style3 text align justify margin leftt 40 5pt 1 GENERAL OVERVIEW Input Tax Credit is the backbone of the GST regime GST is nothing but a value added tax on goods services combined It is these provisions of Input Tax Credit that make GST a value added tax i e collection of t


Regulation of tax professionals by different countries


It would be difficult to have a well functioning tax system without tax advisors Because most taxpayers are not familiar with the intricacies of tax laws tax advisors are needed so that taxpayers can fulfill their complicated tax obligations As informed members of the public tax advisors also provid


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


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Updated on : 12/7/2016 12:56:10 AM


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