Daily Archives: March 1, 2018

Centralized issuance of notice under Income Tax Act : Section 133C.

By | March 1, 2018
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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 56. Legislative framework to enable centralised issuance of notice and processing of information under section 133C. 56.1 Section 133C of the Income-tax Act empowers the prescribed income-tax authority to issue notice calling for information and documents for the purpose of verification of information in its possession. 56.2 In order to expedite verification… Read More »

Extension of power to survey under Income Tax Act

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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 55. Extension of the power to survey. 55.1 Before amendment by the Act, the provisions of section 133A of the Income-tax Act empowered inter alia an income-tax authority to enter any place, at which a business or profession is carried on, or at which any books of account or other documents… Read More »

Power to call for information under Income Tax Act

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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 54. Rationalisation of the provisions in respect of power to call for information. 54.1 The provisions of section 133 of the Income-tax Act empower certain income-tax authorities to call for information for the purpose of any inquiry or proceeding under the Income-tax Act. The second proviso to the said section provides… Read More »

Provisional attachment during search under Income Tax Act and reference to Valuation Officer

By | March 1, 2018
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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 53. Power of provisional attachment and to make reference to Valuation Officer to authorised officer. 53.1 Section 132 of the Income-tax Act provides the power of search and seizure subject to fulfilment of conditions specified therein. 53.2 In order to protect the interest of revenue and safeguard recovery in search cases, sub-sections… Read More »

Reason to believe to conduct Income Tax search, etc. not to be disclosed.

By | March 1, 2018
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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 52. Reason to believe to conduct a search, etc. not to be disclosed. 52.1 Sub-sections (1) and (1A) of section 132 of the Income-tax Act provide that where an authority mentioned therein, based on the information in his possession, has ‘reason to believe’ or ‘reason to suspect’ of circumstances referred to… Read More »

CBDT Empowered to to issue directions in respect of penalty for failure to deduct or collect tax at source.

By | March 1, 2018
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CBDT CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 51. Empowering Board to issue directions in respect of penalty for failure to deduct or collect tax at source. 51.1 The provisions of clause (a) of sub-section (2) of section 119 of the Income-tax Act empower the Board to issue orders setting forth directions or instructions (not being prejudicial to assessees)… Read More »

DTAA between India and Kenya : Notification No 11/2018

By | March 1, 2018
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AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE REPUBLIC OF KENYA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE GOVERNMENT OF THE REPUBLIC OF KENYA NOTIFICATION NO.SO 731(E) [NO.11/2018 (F.NO.503/01/2005/FTD-II)], DATED… Read More »

Section 72 of Tamil Nadu GST Act 2017 : Officers to assist proper officers

By | March 1, 2018
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Section 72 of Tamil Nadu GST Act 2017 ( Section 72 of Tamil Nadu GST Act 2017 explains Officers to assist proper officers and is covered in  CHAPTER XIV  INSPECTION, SEARCH, SEIZURE AND ARREST )  [Enforced with effect from 1-7-2017.] Officers to assist proper officers 72.(1) All officers of Police, Railways, Customs, and those officers engaged in the collection of… Read More »

Section 71 of Tamil Nadu GST Act 2017 : Access to business premises

By | March 1, 2018
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Section 71 of Tamil Nadu GST Act 2017 ( Section 71 of Tamil Nadu GST Act 2017 explains Access to business premises and is covered in  CHAPTER XIV  INSPECTION, SEARCH, SEIZURE AND ARREST )  [Enforced with effect from 1-7-2017.] Access to business premises 71. (1) Any officer under this Act, authorised by the proper officer not below the rank of Joint… Read More »

Section 70 of Tamil Nadu GST Act 2017 : Power to summon persons to give evidence and produce documents

By | March 1, 2018
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Section 70 of Tamil Nadu GST Act 2017 ( Section 70 of Tamil Nadu GST Act 2017 explains Power to summon persons to give evidence and produce documents and is covered in  CHAPTER XIV  INSPECTION, SEARCH, SEIZURE AND ARREST )  [Enforced with effect from 1-7-2017.] Power to summon persons to give evidence and produce documents 70. (1) The proper officer under… Read More »