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CBDT extends due date for filing return to 5th August 2016


F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block IT II DivisionNew Delhi the 29thof July 2016 Order under Section 119 of the Income tax Act 1961 On consideration of reports of Bank strike on 29thJuly 2016 Friday and the

Extension of the last date for filing of DVAT returns for 1st quarter


GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES pOLICY BRANCH VYAPAR BHAWAN I P ESTATE NEW DELHI 110 002 No F 7 420 VAT Policy 2011 PF 518 24 Dated 28 7 16 CIRCULAR NO 11 of 2016 17 Sub Filing of online return for first quarter of 2016 17 Extension of period thereof I

FM takes a serious view of opposition by Income Tax officers


The Union Finance Minister Shri Arun Jaitley takes a serious view of the resolution by Officers of Indian Revenue Service Income Tax against Department of Revenue The Ministry of Finance has learnt through a newspaper item which appeared today that some officers of Indian Revenue Service Income tax

Paperless PAN and TAN application process introduced


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub Ease of Doing Business Paperless PAN TAN application process For fast tracking the allotment of PAN and TAN to company applicants Digital Signature Certificate DSC based application procedure has been int

IT dept to issue 7 lakh letters seeking information in respect of high value non PAN transaction


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 21st July 2016 Sub Income Tax Department to issue 7 lakh letters seeking Information in respect of High Value Transactions Under the Annual Information Returns AIR various types of high value transa

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Experts Opinions

Income tax


In F Y 2009 10 I had deposited cash of rs 10 5 lakh in my bank account and of this I use it for comodity trading account I had deposit 10 5 lakh rs In that yr for making investment in paras ram comodity account Now 2 days back I had recd Call from CIT for producing bank statement So Pls tell me sugg

Service tax


Dear Sir Madam How to calculate service tax i n following details Profession fees Rs 52000 Visit charge Rs 1000 Photo charge Rs 50 Courier charge Rs 300 Company valuers pvt ltd

Self assessment tax


Sir I have wrongly paid self assessment tax for A Y 2015 16 as A Y 2014 15 in challan So whether i can claim back the amount that has been paid If yes what is the procedure for it

Regarding liability of service tax


Dear sir But the the EXCISE AND CUSTOMS department is enquiry about my bill which I gave to government university or government department for payment to know Do i cross the limate of 10lac Please guide Also the law terms no which said the government university government departments are free from s

Service tax refund


Dear Experts We are in business of industrial construction we have received service tax 50 of actual service tax as per notification no 30 2012 dated 20 06 12 50 service tax to be paid by service recipient from our client We have given same work After margin of 10 only to our subcontractor and have

Discussion

Interest on housing loan deduction in income tax act 1961

Hi It is case of Deduction of Interest on Loan on House Property under the Income Tax Act 1961 Mr A Mrs Aand Mr B Brother of Mr A are the three persons who are involved in this case These are all Individuals 1 Mrs A purchased the house property of INR 40Lacs 2 There is no income source of Mrs A So M

Income tax

Need professional advice on a unique scenario A salaried individual does not make investment in his own name rather transfers his earning to his her father bank account Entire earning apart from his her monthly expenditure his transferred to fathers a c This practice is being followed since years Th

Service tax refund

Dear Experts We are in business of industrial construction we have received service tax 50 of actual service tax as per notification no 30 2012 dated 20 06 12 50 service tax to be paid by service recipient from our client We have given same work After margin of 10 only to our subcontractor and have

Tax - leave encashment on retirement of a bank emp. exmption

An assessee employee of a nationalised Bank got 750000 on encashment of leave on retirement Tax treatment of the above will he get entire amount as exemption i e to be treated as a Govt employee OR exempt only 3 00 000 tax on the balance amount

BEST ONLINE COACHING FOR TAX - CS PROFESSIONAL

Pl advise best online coaching for cs professional tax paper I want help in DT IDT both Pl also recommend a book which can help me secure 50 marks therein

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Articles

Income Tax Deductions 2016-17


Dear All Here are Income tax Deductions taking effect of amendments as per finance budget 2016 presented by Mr Arun Jaitely Income tax deduction for AY 16 17 Section 80c The maximum tax exemption limit under Section 80C has been retained as Rs 1 5 Lakh only The various investment avenues or expenses


Understanding the GST Model Law- Input Tax Credit


This is the seventh in the series of proposed articles on the GST Model law The purpose is mainly to create awareness and enable one to look at the unintended impact as maybe applicable for each sector person It could also aid in representation needed for amendment of the Model GST Law to make it ta


Netaji, aap income tax return file karo, to hum tumare saath hai?


Arjuna Fictional Character Krishna the Maharashtra Election Commission has cancelled registration of 191 political parties for not filing income tax return and audit report What will happen and what will be its consequences if a common man does not file income tax return Krishna Fictional Character


Understanding GST Model Law- Taxable person


This is the fourth in the series of articles to understand the GST Model Law The purpose is mainly to create an awareness and enable one to look at the unintended impact on his her sector It would aid in making representations to make this law tax payer friendly simple and transparent The GST Model


Issues in respect of Taxability of various softwares


Service Tax issues in IT ITES Sector and the need for preventive Indirect Tax Audits Software has been the soft target of multiplicity of indirect taxes including Excise duty VAT Service tax and Customs Almost all major indirect taxes apply to this industry and this has created more confusion more l


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Updated on : 7/31/2016 4:32:11 PM


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