Principal Income Tax commissioner commits suicide in Delhi.
Posted Date : 28-May-2020 , 08:39:24 am | Posted By CASANSAAR
A principal tax commissioner posted at the income tax office has committed suicide at his residence in Bapu Dham, Chanakyapuri. He was found hanging in his bedroom using a bed sheet. A suicide note has been found from his room.
The man Keshav Saxena (57) was found hanging in his room by his wife ...
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Income Tax |
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Retailers, small businesses not registered as MSMEs eligible for emergency credit
Posted Date : 27-May-2020 , 10:52:50 am | Posted By CASANSAAR
The Rs 3 lakh crore emergency credit borrowing scheme for Micro, Small and Medium Enterprises (MSMEs) announced by the govt on May 12 will also cover retailers and other businesses.
Retail businesses devastated by the 62-day lockdown have been declared eligible for the scheme, although they are n...
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Income Tax |
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Income Tax dept issues refunds of Rs 26,242 crore since April
Posted Date : 23-May-2020 , 09:49:26 am | Posted By CASANSAAR
The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis.
The Central Board of Direct Taxes (CBDT) said 16,84,298...
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Income Tax |
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Govt cuts TDS, TCS rates for non-salaried payments by 25%
Posted Date : 13-May-2020 , 05:57:27 pm | Posted By CASANSAAR
In order to provide more funds at the disposal of the taxpayers, the government reduced rates of Tax Deduction at Source (TDS) for non-salaried specified payments made to residents and rates of Tax Collection at Source (TCS) for the specified receipts by 25 percent of the existing rates.
The paym...
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Income Tax |
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Trust for Ayodhya temple gets special Income Tax exemption
Posted Date : 09-May-2020 , 10:12:43 am | Posted By CASANSAAR
Donors contributing to the Shri Ram Janmabhoomi Teerth Kshetra, set up on February 5 this year, to build a temple in Ayodhya, will be granted tax exemption under Section 80G of the Income-tax Act from financial year 2020-21.
In a notification on Friday, the Central Board of Direct Taxes notified ...
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Govt may raise up to Rs 10,000 Cr via tax-free bonds
Posted Date : 02-May-2020 , 11:10:06 am | Posted By CASANSAAR
The government is seeking to raise up to Rs 10,000 crore in its maiden tax-free bond issue to help bridge the fiscal gap, which is set to widen in the aftermath of Covid-19-induced economic disruptions and low tax collections.
The finance ministry has begun negotiations with bankers on a likely t...
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Income Tax |
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0 | Hits : 1412
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Search and Seizure under Income Tax
Posted Date : 24-Apr-2020 , 10:57:10 am | Posted By CASANSAAR
Law Relating to Search and Seizure under Income Tax Explained by Dr.(CA) Rakesh Gupta, Ex Member - ITAT (Income Tax Appellate Tribunal).
https://youtu.be/16zBYHC68Ks
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Income Tax |
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Procedure for Registration of Charitable and Religious entities
Posted Date : 19-Apr-2020 , 10:08:22 am | Posted By CASANSAAR
Procedure for Registration of Charitable and Religious entities (Trust or Societies) under Income Tax Act, 1961 as per the Finance Act, 2020 discussed by CA. Vidhu Duggal. Watch this Video,,,,
https://youtu.be/BQscM2t3g3U
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Recent Judicial Pronouncements from Business Head | Income Tax Act
Posted Date : 15-Apr-2020 , 10:48:40 am | Posted By CASANSAAR
Separate Recent Judicial Pronouncements from Business Head of Income Tax Act 1961 discussed by CA.(Adv) Kapil Goel.
https://youtu.be/m2JFa1Jzdz4
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...
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Income Tax |
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Revolutionary Section for CA Practitioners | Section 80JJAA | Income Tax Act
Posted Date : 14-Apr-2020 , 09:04:41 am | Posted By CASANSAAR
Revolutionary Section for CA Practitioners - Section 80JJAA of the Income Tax Act, 1961 discussed by CA. Vipin Garg.
https://youtu.be/K-1_xFg8m80
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Stay Home, Stay Safe, Stay Updated.
(We Care for You)
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Income Tax |
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Penalty for False Entry or Omission of any entry | Section 271AAD | Income Tax Act
Posted Date : 10-Apr-2020 , 10:59:01 am | Posted By CASANSAAR
Penalty for False Entry or Omission of any entry under section 271AAD of the Income Tax Act,1961.
Penalise person maintaining books of account in case of a false entry or omission of an entry relevant for computing total income.
Dangerous Provision under Finance Act, 2020 - Penalty for False E...
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Income Tax |
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0 | Hits : 360
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Income tax dept asks taxpayers to keep their e-filing account safe
Posted Date : 09-Apr-2020 , 09:12:36 am | Posted By CASANSAAR
The income tax department has asked taxpayers to be careful with their income tax e-filing account and report account misuse by any unauthorised person. "If you think your e-Filing account may have been compromised or accessed in an unauthorized manner, then you may be a victim of cybercrime. P...
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Income Tax |
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Suggestions are welcomed for better implementation of Vivad Se Vishwas scheme - CBDT
Posted Date : 07-Apr-2020 , 09:46:29 am | Posted By CASANSAAR
The government is open to suggestions from stakeholders for better implementation of the direct tax 'Vivad Se Vishwas' scheme, Central Board of Direct Taxes Chairman P C Mody said on Monday. The government has launched the Vivad Se Vishwas scheme for resolution of pending litigation by payin...
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Income Tax |
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SC quashes tax Reassessment Notice to NDTV vver money laundering case
Posted Date : 04-Apr-2020 , 11:05:10 am | Posted By CASANSAAR
he Supreme Court on Friday quashed a notice sent by the income tax (I-T) department to media company NDTV, which sought a re-assessment of the company’s income for the 2006-2007 financial year.
The apex court dismissed the notice – which had alleged round-tripping of money by the news...
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Income Tax |
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Donation to PM CARES Fund to be fully exempted under section 80G of I-T Act
Posted Date : 01-Apr-2020 , 11:56:21 am | Posted By CASANSAAR
As the date for claiming deduction under section 80G of the IT Act has been extended up to June 30, the donation made up to that date will also be eligible for deduction from income of FY 2019-20.
Anyone contributing to PM CARES Fund (Prime Minister’s Citizen Assistance and Relief Emergency...
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Income Tax |
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Govt issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020
Posted Date : 01-Apr-2020 , 11:08:05 am | Posted By CASANSAAR
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance o...
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Income Tax |
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Income Tax dept asks officers working from home to chase large taxpayers for dues
Posted Date : 31-Mar-2020 , 10:03:38 am | Posted By CASANSAAR
A three-month extension in deadlines for tax payment and filing of returns notwithstanding, the Income-Tax Department has asked field formations to contact large taxpayers over phone or email to follow up on pending collections. Rakesh Gupta, Commissioner of Income Tax (Coordination & Systems), ...
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Income Tax |
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Impact of Corona Virus on Financial Reporting and the Auditors Consideration
Posted Date : 27-Mar-2020 , 10:45:01 am | Posted By CASANSAAR
ASB & AASB of ICAI have released *Impact of Corona Virus on Financial Reporting and the Auditors Consideration*
The advisory has been prepared for:
1. Entities to whom Ind AS is applicable and
2. Entities to whom AS is applicable, viz,
a. Companies to whom Companies, Ac...
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Benami Law and its interplay with other Laws
Posted Date : 26-Mar-2020 , 11:06:47 am | Posted By CASANSAAR
Benami Law and its interplay with other Laws explained by CA (Adv) Ashwani Taneja, Ex Member - ITAT..
Watch this Video,
https://youtu.be/bercqZVBj-w
...
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Income Tax |
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Relaxations by Finance Minister under Various Laws
Posted Date : 24-Mar-2020 , 04:16:37 pm | Posted By CASANSAAR
Income Tax :- F.Y. 18-19
1. Last date for filing income tax returns for the A.Y. 19-20 will be now 30/06/2020.
2. Interest for delayed payment reduced to 9% only for F.Y.18-19
3. Vivad se Vishwas Scheme has also extended to 30/06/2020 and no 10% additional Charge for now.
4. No extension...
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Covid-19 related spends to be treated as CSR activity - MCA
Posted Date : 24-Mar-2020 , 11:14:51 am | Posted By CASANSAAR
With the number of Covid-19 cases increasing in the country, the Centre has now roped in the private sector to help in the efforts to minimise the spread of Coronavirus.
The Corporate Affairs Ministry (MCA) on Monday said that spending of CSR funds for Covid-19 would be treated as eligible CSR ac...
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Income Tax |
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Finance Minister sets Rs 15 Lakh income cap to tax NRIs
Posted Date : 24-Mar-2020 , 10:49:05 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman softened the contentious budget proposal to tax non-resident Indians, putting in place a threshold of Rs 15 lakh for the levy of tax on incomes emanating from India, while leaving out global incomes from the tax ambit.
Through amendments to the finance bill, sh...
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Income Tax |
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SC invokes its plenary power to extend limitation period of appeals
Posted Date : 24-Mar-2020 , 10:41:00 am | Posted By CASANSAAR
The Supreme Court Monday invoked its plenary powers under Article 142 of the Constitution to extend limitation period of appeals from high courts or tribunals on account of coronavirus (COVID-19) pandemic.
A bench of Chief Justice S A Bobde and Justices L N Rao and Surya Kant said the Court has t...
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Income Tax |
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Income tax Dept may extend March 31 deadline due to coronavirus
Posted Date : 23-Mar-2020 , 08:11:45 pm | Posted By CASANSAAR
The Income Tax Department is "proactively pursuing" with the government extension of the statutory March 31 deadline to complete important tax-related works due to the COVID-19 outbreak, an all-India body of IRS officers said on Monday. It has also urged all I-T department officials to wor...
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Income Tax |
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PM Modi to address nation tonight on Coronavirus
Posted Date : 19-Mar-2020 , 08:31:17 am | Posted By CASANSAAR
Prime Minister Narendra Modi chaired a high-level meeting to review the ongoing efforts to tackle COVID-19 on March 18.
He is scheduled to address the nation on March 19 at 8 p.m., during which he will talk about issues relating to COVID-19 and the efforts to combat it.
“During the meeti...
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Income Tax |
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Vivad Se Vishwas Scheme Procedure
Posted Date : 17-Mar-2020 , 11:15:55 am | Posted By CASANSAAR
Procedure for Vivad Se Vishwas Scheme,
Watch this Video.
https://youtu.be/UKC1YUcRDBc
...
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Income Tax |
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Vivad Se Vishwas Scheme Eligibility
Posted Date : 14-Mar-2020 , 10:12:02 am | Posted By CASANSAAR
Eligibility Criteria for availing Vivad Se Vishwas Scheme discussed by CA. (Adv) Kapil Goel with CA. Vivek Khurana.
Watch This Video,,,
https://youtu.be/RORU_GTvK00
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Income Tax |
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Parliament passes Vivad Se Vishwas Bill for settlement of Direct Tax disputes
Posted Date : 13-Mar-2020 , 09:49:03 pm | Posted By CASANSAAR
Parliament has passed the Vivad Se Vishwas Bill, 2020 today. The bill provides a waiver on interest, penalty and prosecution for settlement of Direct Tax disputes. It grants a complete waiver on interest and penalty when the disputed amount is paid before 31st of this month, and provisions an additi...
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Income Tax |
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0 | Hits : 1469
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Gujarat HC issues notices to Centre, GST Council over surcharge imposition
Posted Date : 12-Mar-2020 , 08:45:51 am | Posted By CASANSAAR
The Gujarat High Court has issued notices to the Union government, the GST Council, and the Customs authorities over imposition of surcharge and cess on duties paid through scrip-based incentives by exporters.
Earlier, exporters had moved the HC, challenging the constitutional validity of imposit...
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Income Tax |
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0 | Hits : 251
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Three Infosys employees held for taking bribes from taxpayers
Posted Date : 09-Mar-2020 , 09:19:48 am | Posted By CASANSAAR
Three Infosys employees, attached to the Income Tax department's Centralised Processing Centre here, were arrested for allegedly taking bribes from taxpayers for speedy processing of their refund, police said on Sunday.
According to police, the key accused among the three was attached to the ...
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0 | Hits : 1001
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