section 194ia


MCA issues order regarding rotation of auditors

Ministry of Corporate Affairs has issued Companies Third Removal of Difficulty Order 2016 regarding applicability of the provisions of Rotation of Auditors as per Section 139 2 of the Companies Act 20

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Government Notifies Rules regarding Fair market value

Government Notifies Rules regarding Fair market value and reporting requirement for Indian concern Indirect transfer provisions section 9 1 of the Income tax Act 1961 Under section 9 of the Income tax

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New TDS/TCS RPU and FVU versions released

Due date for filingQuarterly TDS TCS statement for Q1 April to June of FY 2016 17 isJuly 31 2016for all the categories of Deductors Collectors Do submit quarterly TDS TCS statement on or before due da

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TCS at 1 percent only applicable on cash portion of sale

Circular No 23 2016 F No 370142 17 2016 TPL Government of India Ministry of Finance Department of revenue Central Board of Direct Taxes TPL Division Subject Amendment in Section 206C of the Income tax

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Clarification regarding threshold Limit of tax audit under section 44AB and 44AD

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 20th June 2016 Sub Threshold Limit of tax audit under section 44AB and section 44AD clarificat

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Experts Opinions

Defective return under section 139(9) error code 31

Assessee has filed return for AY 2016 17 in ITR 4 but received a notice under section 139 9 of defective return with error code 31 saying you have income under pgbp but have not filled Balance sheet a

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Exemption under section 54 b

can exemption under sec 54b could be withdrawn if the newly acquired land is diverted only diverted not sold please provide me with case law if any

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Interest under section 234c

While filing return under section 148 where income exceeds original return whether interest u s 234C has to be charged on income as per original return u s 139 or on enhanced income offered u s 148

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TDS on immovable property sale Sec 194IA

on which amount TDS should be deducted by Buyer on purchase of immovable property Above 5000000 whether it is inclusive of ST VAT or on Basic amount I e Agreement Value

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Section 44ae

The transporter is owner of 5 trucks But he had income generated from 2 trucks in last year So whether for 44AE 5 TRUCKS TO BE CONSIDERED OR 2 TRUCKS TO BE CONSIDERED FOR PRESUMPTIVE INCOME

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Exemption under section 54b

I have claimed exemtion under sec 54B and within 3 year i have diverted the agricultural land purchased for exemption but not sold only diverted So my question is whether such diversion disallow me th

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Exemption under section 54 and 54f

Can NRI claim exemption under section 54 or 54F if he invest sale proceeds in the name of his mother

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Section 177 compliance for caro reporting

My question is with regard to the compliane of section 177 of Companies Act 2013reporting under clause xiii of CARO 2016 If a private company voluntarily forms an audit committee should it comply with

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I donot find the section 24 & sec 80ee in itr 1?

Sir I want to file salary income for the Fy 2014 15 in ITR 1 in which i have to claim deduction of interest paid for the housing loan Where should i show this in ITR 1 please guide

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Query about itr7 and form 10 b (section 11(1)(c)

1 what do you mean by Amount of income eligible for exemption under section 11 1 c

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  • Auditor Certificate format for NBFC

    all NBFCs are required to submit a certificate from their Statutory Auditors every year to the effect that they continue to engage in the business of NBFI requiring it to hold a CoR under Section 45 IA of the RBI Act a uniform format of the SAC is attahed herewith


  • Handbook on GST - 3rd Edition

    Model GST law has been put in the public domain on 14 June 2016 The Model GST Law is a 190 pager document containing more than 162 sections four schedules and Valuation Rules In this regard please find attached 3rd Edn of our e book on GST 837 pages which contains Provisions of Model GST law IGST Act GST Valuation Rules etc Analysis of various aspects of GST Links to our GST videos etc


  • NCLT and NCLAT under Sections 408 and 410 respectively of the Companies Act, 2013

    The National Company Law Tribunal and National Company Law Appellate Tribunal under Sections 408 and 410 respectively of the Companies Act 2013


  • Transactions which are not regarded as transfer [Section 47]

    Transactions which are not regarded as transfer Section 47


  • Circular for clarification on amendment in section 206C

    Circular No 22 2016 Dated June 8 2016 Clarification on amendment by Budget 2016 Section 206C of Income Tax Act TCS


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Section 115-UB Tax on income of investment fund and its unit holders

Introduction Its Applicability Section 115 UB of Income Tax Act 1961 shall be inserted by the Finance Act 2015 and is applicable w e f 01 04 2016 Extract of Budget Speech 15 16 I propose to undertake

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TDS on sale of property @1% under Section 194IA

TDS on sale of property The buyer of an immovable property land flat apartment shop or a bungalow which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government The preva

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No TCS on provision of any service due to drafting anomaly in Section 206C of IT Act

I am sure that you are completely surprised by the title because nobody has yet pointed out such an anomaly You heard it right and please do let me explain The Honble Finance Minister Shri Arun Jaitle

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About 29 new sections notified on June 1st 2016 in CA 2013

Hi All MCA had notified 29 new sections through exercise of the powers conferred by sub section 3 of section 1 of the Companies Act 2013 18 of 2013 By this the Central Government hereby appoints the 0

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Complete understanding of Section 62 and 42 of the Companies Act 2013

A COMPLETE AND CLEAR UNDERSTANDING OF SECTION 62 42 OF THE COMPANIES ACT 2013 FURTHER ISSUE OF SHARE CAPITAL Section 62 of the Companies Act 2013 1 Where at any time a company having a share capital p

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Updated on : 7/7/2016 7:25:12 AM

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