Daily Archives: December 19, 2016

Income from sale of plots to be taken in year of registration of conveyance deed

By | December 19, 2016

Issue The appellant recognized revenue only in the year in which the plots were sold and registration of conveyance deed. The Assessing Officer is of the view that the revenue should be recognized at every stage of receipt sale consideration Held he provisions of section 2(47) of the Act have no application to the transactions… Read More »

PMGKY 2016 Compliance Checklist and Steps

By | December 19, 2016

Compliance Checklist of  PMGKY 2016 Pradhan Mantri Garib Kalyan Yojana 2016, Under the Taxation and Investment regime for Pradhan Mantri Garib Kalyan Yojana, a taxpayer can declare undisclosed income in the form of deposits and cash and is required to pay taxes, cess and penalty on such declared incomes. Following are the Steps for Compliance… Read More »