F. NO. 225/120/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 21st of September, 2016 Subject: Providing information under section 138 of Income-tax Act, 1961- clarification in respect of Notification No. SO 576 dated 23.05.2003 issued by CBDT- regd.- Section 138 of the Income-tax Act,… Read More »
F. No. 282/227/2016-IT(Inv-.V)/26/2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Investigation Division) New Delhi, dated 21st September, 2016 Order under section 119 of the Income-tax Act, 1961 Circular No.17 of 2016 dated 20.05.2016 relating to the Income Declaration Scheme, 2016 (the Scheme) clarifies that a person shall be eligible to make declaration… Read More »
How to Save Tax on Your Salary & Perquisites (FY 2016-17) AY 2017-18 BUY How to Save Tax on Your Salary & Perquisites (FY 2016-17) About the Author Ram Niwas Lakhotia is a well-known authority on taxation in the country. He is a regular writer and editor of numerous bestselling books, which have seen over… Read More »
Corporate Tax Planning & Business Tax Procedures with Case Studies (20th Edition, August 2016) BUY Corporate Tax Planning & Business Tax Procedures with Case Studies (20th Edition, August 2016) The law stated in this Book is as amended by the Finance Act, 2016. Book One showcases the law of income-tax in a structured and concise… Read More »
Cabinet approves Agreement between India and Samoa for exchange of information with respect to Taxes The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing and ratification of Agreement between India and Samoa for the exchange of information with respect to Taxes. The Agreement will stimulate the… Read More »
Cabinet approves enactment of Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill 2016 and to repeal five archaic admiralty statutes The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval to the proposal of Ministry of Shipping to enact Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill 2016 and… Read More »
Cabinet gives ex-post facto approval to enhancement of Pension for Freedom Fighters The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to enhancement of Pension for Freedom Fighters and for the spouses (widows/widowers), eligible daughters and dependent parents of deceased Freedom Fighters, under the Swatantrata Sainik Samman… Read More »
Cabinet approves the River Ganga (Rejuvenation, Protection and Management) Authorities Order, 2016 The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approval the River Ganga (Rejuvenation, Protection and Management) Authorities Order, 2016. The Order lays down a new institutional structure for policy and implementation in fast track manner and empowers… Read More »
Cabinet approves merger of rail budget with general budget; advancement of budget presentation and merger of plan and non-plan classification in budget and accounts The Union Cabinet has approved the proposals of Ministry of Finance on certain landmark budgetary reforms relating to (i) the merger of Railway budget with the General budget, (ii) the advancement… Read More »
Held It may be mentioned that the matter has come up before this Hon’ble Court in the assessee’s case reported in CIT v.Sahara Investment India Ltd. [2004] 266 ITR 641 (All.), where it was held that “When a person deposits some money in a back that amount does not become the income of the bank… Read More »