Notifications/Circulars |
Category : Income Tax |
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How to file TDS/TCS statement on incometaxindiaefiling.gov.in
Posted Date : 09-May-2016 , 08:25:23 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No. 6/2016
New Delhi, 4thMay, 2016
The provisions relating to the statement of deduction of tax under sub-section (3) of section 200 and the statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 (the Act) are prescribed under Rule 31A and Rule 31AA of the Income-tax Rules, 1962 (the Rules) respectively. As...
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Income Tax |
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Procedure for submission of Form 15CC for remittance U/s. 195(6)
Posted Date : 09-May-2016 , 08:20:12 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No. 8/2016
New Delhi, 4thMay, 2016
Procedure for submission of Form 15CC by an authorised dealer in respect of remittances under sub-section (6) of section 195 of the Income-tax Act, 1961 read with rule 37BB of the Income-tax Rules, 1962
Under sub-section (6) of section 195 of the Income-tax Act, person responsible for paying to a non-resident, not being...
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Income Tax |
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Online Filing Procedure of Form 15G & 15H
Posted Date : 09-May-2016 , 08:18:03 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No 7/2016
New Delhi, 4thMay, 2016
[F.NO.DGIT(S)/ADG(S)-2/TDS E-FILING NOTIFICATION/110/2016]
As per sub-rule (1) of rule 29C (Declaration by person claiming receipt of certain incomes without deduction of tax) of the Income-tax Rules, 1962 (hereunder referred as the Rules) a declaration under sub-section (1) or under sub-section (1A) of section 197A shall ...
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Income Tax |
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TDS Due Dates Revised & Supporting for claim of Deduction from Salary
Posted Date : 03-May-2016 , 08:30:03 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION NO. 30/2016
New Delhi, the 29thApril, 2016
INCOME-TAX
S.O. ___(E).- In exercise of the powers conferred by sections 192, 200 and 206C, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-ta...
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Income Tax |
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Due date for filing revised return of assets and liabilities by public servants extended to 31/07/2016
Posted Date : 13-Apr-2016 , 07:38:58 am | Posted By: CASANSAAR
PUBLIC SERVANTS (FURNISHING OF INFORMATION AND ANNUAL RETURN OF ASSETS AND LIABILITIES AND THE LIMITS FOR EXEMPTION OF ASSETS IN FILING RETURNS) AMENDMENT RULES, 2016 - AMENDMENT IN RULE 3
NOTIFICATION NO. GSR 414(E) [F.NO.407/12/2014-AVD-IV(B)],DATED 11-4-2016
In exercise of the powers conferred by sub-section (1) read with clause (k) and clause (m) of sub-section (2) of section 59 read with section 44 of the Lokpal and Lokayuktas Act, 2013 (1 of 2014), the Central Government hereby m...
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Income Tax |
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Govt. revises Sukanya Samridhi Account Rules
Posted Date : 29-Mar-2016 , 07:11:20 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 18th March, 2016
G.S.R.323(E).- In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), and in supersession of theSukanya Samridhi Account Rules, 2014published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 3rd December, 2014 vide notification of the Government of India in the Ministry of Finance, Department of Economi...
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Income Tax |
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Employers to pay PF Contributions by 15th- Grace period removed
Posted Date : 11-Jan-2016 , 08:15:07 am | Posted By: CASANSAAR
Employees’ Provident Fund Organisation
(Ministry of Labour & Employment, Govt. of India),
Head Office
Bhavishya Nidhi Bhawan, 14- Bhikaji Cama Place, New Delhi — 110066
Fax: 011-26173022, Telephone: 26172685
No. WSU/9(1)2013/Settlement/35631 Date:08th January, 2016
To
M ACCs (Zones) All RPFC/OICs of ROs/SROs.
Sub: Payment of contribution by the employers by 15th of the following month —Removing of grace period of 5 days.
Sir/Madam,
As per par...
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Income Tax |
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Penalty u/s 271(1)(c) wherein additions/disallowances made under normal provisions of the Income-tax Act, 1961 but tax levied under MAT provisions u/s 115JB/115JC, for cases prior to A.Y. 2016-17
Posted Date : 01-Jan-2016 , 08:57:27 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
CENTRAL BOARD OF DIRECT TAXES
NEW DELHI
CIRCULARNO. 25/2015
Dated : December 31, 2015
Subject:Penaltyu/s 271(1)(c) wherein additions/disallowances made under normal provisions of the Income Tax Act, 1961 but tax levied under MAT provisions u/s 115JB/115JC, forcasespriorto A.Y. 2016-17-reg.-
Section 115JB of the Act is a special provision for levy ofMinimum Alternate Taxon Companies, inserted by FinanceAct 2000with effect from 1-4-2001.
...
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Income Tax |
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Rcording of satisfaction note under section 158BD/153C of the Act
Posted Date : 01-Jan-2016 , 08:54:39 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRYOF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NEW DELHI
CIRCULARNO. 24/2015,
Dated: December 31, 2015
Subject: Recording of satisfaction note under section 158BD/153C ofthe Act- reg.-
The issue of recording of satisfaction for the purposes of section 158BD/153C has been subject matter oflitigation.
2. The Hon’ble Supreme Court inthe caseofM/s Calcutta Knitwears in its detailed judgment in Civil Appeal No.3958 of 2014 dat...
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Income Tax |
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Electronic filing of first appeal before CIT(Appeals) - CBDT
Posted Date : 31-Dec-2015 , 07:13:40 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
New Delhi, 30th December, 2015
Subject: Electronic filing of first appeal before CIT(Appeals) – reg.
It is the endeavour of the Income tax Department to digitise various functions of the Department for providing efficient taxpayer services. As another significant step in this
direction, electronic filing of appeal before CIT(Appeals) is being made mandatory for pe...
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Income Tax |
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Issuing Questionnaire in cases selected for scrutiny - CBDT
Posted Date : 30-Dec-2015 , 08:32:37 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, New Delhi
Instruction No. 19/2015
Dated the 29th of December, 2015
To
All Pr. Chief-Commissioners of Income-tax/
Chief-Commissioners of Income-tax
All Pr. Directors-General of Income-tax/
Directors-General of Income-tax
Subject- IssuingQuestionnaireincasesselected for scrutiny- regarding
Sir/Madam
Instances have come to the notice of the Board that in cases s...
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Income Tax |
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TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts
Posted Date : 30-Dec-2015 , 08:31:19 am | Posted By: CASANSAAR
TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts. Circular No. 23/2015 dated 28/12/2015....
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Income Tax |
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Allowability of employer's contribution to funds for the welfare of employees terms of section 43B(b) of the Income-tax Act
Posted Date : 22-Dec-2015 , 05:49:10 am | Posted By: CASANSAAR
Circular No. 22/2015 - Allowability of employer's contribution to funds for the welfare of employees terms of section 43B(b) of the Income-tax Act !New 17 December 2015
CIRCULAR
...
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Income Tax |
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Income-tax (21st Amendment) Rules, 2015 regarding 15CA & 15CB
Posted Date : 17-Dec-2015 , 03:01:18 pm | Posted By: CASANSAAR
In exercise of the powers conferred by sub-section (6) of section 195 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (21st Amendment) Rules, 2015.
(2) They shall come into force on the 1 st day of April, 2016....
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Income Tax |
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Govt. notifies tolerance limit of 1% and 3% under new Transfer Pricing Rule
Posted Date : 30-Oct-2015 , 08:11:57 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
[INCOME TAX]
NOTIFICATION NO. 86/2015
New Delhi, the 29th October, 2015
S.O. (E).- In exercise of the powers conferred by the third proviso to subsection (2) of section 92C of the Income-tax Act, 1961 (43 of 1961) read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies that where the variation between the arm’s length price determined under...
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Income Tax |
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Framing of scrutiny assessments in case of assesses engaged in the business of Mining
Posted Date : 16-Oct-2015 , 07:31:48 am | Posted By: CASANSAAR
CBDT asks AOs to compare tax returns of mining Cos with annual returns to ascertain suppressed stock....
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Govt. allows deduction for treatment of disease on basis of certificate of private hospitals
Posted Date : 14-Oct-2015 , 07:44:48 am | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Direct Taxes)
(Income-tax)
NOTIFICATION NO. 78/2015
New Delhi, the 12thOctober, 2015
S.O. 2791(E). –In exercise of the powers conferred bysection 295, read withsection 80DDBof theIncome-tax Act, 1961 (43 of 1961),the Central Board of Direct Taxes hereby makes the following rules further to amend theIncome-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (15...
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Income Tax |
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ITR filed for A.Y 2014-15 or in response to notices can also be validated through EVC
Posted Date : 08-Oct-2015 , 07:18:48 am | Posted By: CASANSAAR
ITR filed for A.Y 2014-15 or in response to notices can also be validated through EVC...
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Income Tax |
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Order Under Section 119 of the Income-tax Act, 1961 - Extension of due date for efiling of IT/TAR
Posted Date : 01-Oct-2015 , 02:32:58 pm | Posted By: CASANSAAR
In supersession of orders under Section 119 of the Income-tax Act, 1961 ('Act') dated 30th September, 20 15 vide file of even number, the Central Board of Direct Taxes, in exercise of powers conferred under Section 119 of the Act, hereby orders that the returns of income and audit reports u/s 44AB due for e-filing by 30th September, 20 15 may be filed, across the country, by 3 1 st October, 2015....
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Procedure for registration and submission of report as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules. 1962
Posted Date : 28-Aug-2015 , 07:39:14 am | Posted By: CASANSAAR
F. No. DGIT(S)/DIT(S)-2/ITWG on Financial Sector Reporting/12/2015
Government of India
Ministry of Finance
Central Board of Direct Taxes
Directorate of Income Tax (Systems)
Notification No 3/2015
New Delhi, 25thAugust, 2015
Procedure for registration and submission of report as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules. 1962:
As perSub rule (9)(a) of Rule 114Gof theIncome Tax Ru...
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Income Tax |
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Jurisdiction of Additional Commissioners of Income-tax or the Joint Commissioners of Income-tax under Black Money
Posted Date : 26-Aug-2015 , 07:40:53 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
Department of Revenue
(CENTRAL BOARD OF DIRECT TAXES)
[Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax]
NOTIFICATION NO. 73/2015
New Delhi, 24thAugust 2015
S.O. (E). -in exercise of the powers conferred byclause (b) of sub-section (4) of section 120of theIncome-tax Act, 1961 (43 of 1961)read withsection 6of theBlack Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015),...
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Income Tax |
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Govt. notifies Challan No. ITNS 284 for depositing taxes under Black Money Act
Posted Date : 19-Aug-2015 , 11:16:35 pm | Posted By: CASANSAAR
Govt. notifies 'Challan No. ITNS 284' for depositing taxes under Black Money Act
...
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CBDT notifies rules to determine period of stay of crew members of foreign bound ships in India
Posted Date : 18-Aug-2015 , 10:10:24 pm | Posted By: CASANSAAR
S.O. 2240(E).- In exercise of the powers conferred by Explanation 2 to clause (1) of section 6 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-...
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CBDT notifies Rules for the purpose of FATCA entered into between India and USA
Posted Date : 10-Aug-2015 , 07:20:37 am | Posted By: CASANSAAR
S.O. 2155(E) - In exercise of the powers conferred by section 285BA read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government with respect to registration of persons, due diligence and maintenance of information, and the Board for matters relating to statement of reportable accounts, hereby make the following rules further to amend the Income-tax Rules, 1962, namely:-...
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Migration of PAN lying in old/orphan/defunct Jurisdiction
Posted Date : 20-Jul-2015 , 07:13:38 pm | Posted By: Aarti Sharma
DATED 16-7-2015
Kind reference is invited to AIS instructions nos. 80, AST instruction no. 97 and134on the above subject (copies enclosed for ready reference) wherein procedure for migration of PAN lying in old/orphan/defunct Jurisdiction to the Jurisdictional A.Os. through the Nodal officer/jurisdiction defined under CIT(CO) was circulated.
2.Presence of PAN in old/orphan/defunct jurisdiction leads to problem in timely processing of returns and also raises problems consequent to selection...
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Income Tax |
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Extension of time limit for submitting ITR-V form for A.Y. 2013-14 & 2014-15
Posted Date : 14-Jul-2015 , 08:10:59 am | Posted By: CASANSAAR
Extension of time limit for submitting ITR-V form for A.Y. 2013-14 & 2014-15...
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Income Tax |
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Electronic Verification Code (EVC) for electronically filed Income Tax Returnd
Posted Date : 14-Jul-2015 , 07:45:38 am | Posted By: CASANSAAR
Explanation tosub rule (3) of Rule 12of theIncome tax Rules 1962, states that for the purposes of this sub rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). Further,Sub rule (4) of Rule 12of theIncome Tax Rules 1962states that the Principal ...
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Govt. authorizes 7 public sector companies to issue tax free bonds
Posted Date : 08-Jul-2015 , 07:11:33 am | Posted By: CASANSAAR
Income Tax : Section 10(15), Item (h) of Sub-Clause (iv) of the Income-Tax Act, 1961 - Exemptions - Interest on Bonds/debentures - Notified Bonds...
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Income Tax |
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Govt. notifies Black Money Rules; releases 7 Forms including Form 6 for declaration of undisclosed foreign assets
Posted Date : 04-Jul-2015 , 09:13:52 am | Posted By: CASANSAAR
G.S.R. 529 (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 85 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015), the Central Board of Direct Taxes with the approval of the Central Government hereby makes the following rules, namely:-...
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Black Money Act would be effective from July 1, 2015
Posted Date : 03-Jul-2015 , 07:41:26 am | Posted By: May I Help You.
S.O. 1790 (E)- Whereas the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015) (hereinafter referred to as the Act) received the assent of the President on 26th May, 2015;
And whereas sub-section (3) of section 1 of the Act provides that save as otherwise provided in the Act, the Act shall come into force on the 1st day of April, 2016;...
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