Daily Archives: March 26, 2018

How to Tax Gifts received by ‘Mayawati ‘ – Politician : Explained by ITAT

By | March 26, 2018

[2010] 42 SOT 59 (DELHI) IN THE ITAT DELHI BENCH ‘E’ Deputy Commissioner of Income-tax, Central Circle-11, New Delhi v. Mayawati R.P. TOLANI, JUDICIAL MEMBER AND SHAMIM YAHYA, ACCOUNTANT MEMBER IT APPEAL NOS. 4259/DELHI/2007 AND 2078 & 2079/DELHI/2009 AUGUST 27, 2010 S.D. Kapila and R.R. Maurya for the Appellant. Dr. Rakesh Gupta, Dr. R.K. Agarwal, Ashwani Taneja and Tarun Kumar for the… Read More »

Gifts/Prizes/Awards/Rewards received by sportsman not taxable if he is not professional

By | March 26, 2018

IN THE ITAT DELHI BENCH ‘A’ Abhinav Bindra v. Deputy Commissioner of Income-tax, Central-2, Dehradun G.D. AGRAWAL, VICE-PRESIDENT AND R.P.TOLANI, JUDICIAL MEMBER IT APPEAL NO. 2219 (DELHI) OF 2013 [ ASSESSMENT YEAR 2009-10 ] JULY  26, 2013 Ashwani Kumar for the Appellant. Bhim Singh for the Respondent. ORDER G.D. Agrawal, Vice-President – This appeal by the assessee is directed against… Read More »

TDS Rates FY 2017-18 / AY 2018-19 : Income Tax Act India

By | March 26, 2018

TDS Rates FY 2017-18 / AY 2018-19 TDS Rates FY 2017-18 / FY 2017-18 as per Finance Act 2017 Rates for tax deduction at source [For Assessment year 2018-19] Particulars TDS Rates (in %) 1. In the case of a person other than a company 1.1 where the person is resident in India- Section 192: Payment… Read More »

Court cannot go into sufficiency of reasons for special audit : High Court

By | March 26, 2018

HIGH COURT OF KARNATAKA Habitat Shelters (P.) Ltd. v. Principal Commissioner of Income Tax, Bangalore DR. VINEET KOTHARI, J. WRIT PETITION NO. 2009 OF 2018 (T – RES) FEBRUARY  12, 2018 Anirudha R.J. Nayak, Adv. for the Petitioner. ORDER   1. The petitioner-M/s.Habitat Shelters Private Limited has filed this Writ Petition aggrieved by the directions of holding… Read More »

CBEC reduces BCD to 5% on Opencell (15.6” & above) of LCD/LED TV panels

By | March 26, 2018

Notification No. 32/2018-Customs Seeks to further amend notification No. 50/2017-Customs so as to reduce BCD from 10% to 5% on Opencell (15.6” and above) of LCD/LED TV panels. [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.… Read More »

CBEC notified provisional assessment for imports of €˜Jute Products

By | March 26, 2018

Seeks to notify provisional assessment for imports of €˜Jute Products€™ namely, Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric, and Jute sacking bags exported by M/s. Natural Jute Mill [Bangladesh] and M/s Kreation Global, LLC,USA [Bangladesh] . [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA… Read More »

IGST & compensation cess exemption to EOUs on imports till 02.10.2018

By | March 26, 2018

Seeks to Amend notification No 52/2003- Customs dated 31.03.2003 for extending exemption from IGST and compensation cess to EOUs on imports till 01.10.2018. [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification… Read More »

EPFO Instructions for payment of erroneous contributions deposited

By | March 26, 2018

For web circulation only Employees’ Provident Fund Organization (Ministry of Labour & Employment, Govt. Of India) Head Office Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi-110066 www.epfindia.gov.in www.epfindia.nic.in Telephone:011-26172685  Fax: 011-26173022 Email: rc.wsu@epfindia.gov.in No. WSU/9(1)2013/Settlement of Claims/Pt /1985 Date: 23.03.2018 To All ACCs (Zone) All RPFCs- In charge of Regional Offices. Sub: Review of public grievances —… Read More »