Dear Members, Sub: Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2015” – from 31st December, 2015 to 31st March, 2016 We may inform you that it has been decided to extend the last date for compliance of CPE hours requirement for the Calendar year 2015,… Read More »
GUIDANCE NOTE ON IMPLEMENTATION OF REPORTING REQUIREMENTS UNDER RULES 114F TO 114H OF THE INCOME-TAX RULES, 1962 relating to Foreign Account Tax Compliance Act DOWNLOAD GUIDANCE NOTE ON IMPLEMENTATION OF REPORTING REQUIREMENTS UNDER RULES 114F TO 114H OF THE INCOME-TAX RULES, 1962 Download the Full text of GUIDANCE NOTE
Recommendations to promote ease of doing business and simplify procedures- (a) Enhancement and rationalisation of the threshold limits and reduction of the rates of TDS. TDS rates for individuals & HUFs to be reduced to 5% as against the present 10%. (b) Simplification & rationalisation of the provisions of Section 197 and Rules for lower… Read More »
Source INCOME TAX SIMPLIFICATION COMMITTEE REPORT EXECUTIVE SUMMARY Recommendations to check or curb litigation /facilitate speedier disposal (a) Amendments to provide that in cases where shares are shown as capital assets and held for one year or less, the Assessing Officer will not re-characterise the surplus on sale as business income, provided the surplus in… Read More »
Held merely because qualitative record was not maintained and on this premise, the books of account could not have been rejected. HIGH COURT OF RAJASTHAN PR. Commissioner of Income-tax v. Bhawani Silicate Industries AJAY RASTOGI AND J.K. RANKA, JJ. D.B. IT APPEAL NOS. 121 AND 122 OF 2015 JULY 30, 2015 Sameer Jain, Adv. for… Read More »