Finance Bill 2016 Revision of Belated Return Relevant extract of proposed amendment in section 139(5) is as follow :- It is also proposed to substitute sub-section (5) of the aforesaid section so as to provide that if any person, having furnished a return under sub-section (1) or under sub-section (4), or in a return furnished… Read More »
Finance Bill 2016 Income tax return in case of exempt income If you have earned long term Capital gain on sale of equity shares in a company or a unit of an equity oriented fund or a unit of a business trust on which security transaction tax has been made you are required to file income… Read More »
Belated Return What is belated return ? Belated Return :If a person has not filed the return on or before the due date (normally 31st july / in certain cases 30th September ) than the return is called belated return. Finance Bill 2016 has reduced Time Limit for filing belated returns u/s 139(4) Earlier Time… Read More »
MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 10th February, 2016 S. O. 444(E).— In exercise of the powers conferred by clause (b) of sub-section (3) of section 1 read with section 16 of the Employees` Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby specifies that the said Act shall… Read More »