Daily Archives: August 20, 2018

No Income tax on sale of land if it was declared as an agricultural land in revenue records

By | August 20, 2018

In the present case, admittedly, the land sold by the assessee is situate beyond 8 Kms limit, the land Revenue is collected in the form of Kist in respect of the agricultural land, the land Revenue records shows the land as agricultural land. Thus, all the conditions required for holding the land as agricultural land… Read More »

Proposed Amendments to Income-tax Rules : Govt Invites Comments

By | August 20, 2018

Ministry of Finance Government invites comments of Stakeholders and General Public on Proposed Amendments to Income-tax Rules,1962 by 4th September, 2018 Posted On: 20 AUG 2018 1:11PM by PIB Delhi Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application for seeking a certificate under Section 197 and/or under Section 206C (9) of the Income-tax… Read More »

Center Govt Holiday on account of Id-ul-Zuha (Bakrid) on 22.08.2018

By | August 20, 2018

Ministry of Personnel, Public Grievances & Pensions Change in Holiday on account of Id-ul-Zuha (Bakrid) Central Government Administrative Offices located at Delhi/New Delhi to remain closed on 22.08.2018 Posted On: 20 AUG 2018 1:33PM by PIB Delhi  On the basis of the report of  Ruiyat Hilal (moon deciding Committee) headed by Shahi Imam, Jama Masjid,… Read More »

ICAI tie up with Taxmann for Income Tax Online contents to CA Members at concessional price

By | August 20, 2018

ICAI enters into an arrangement with Taxmann Allied Services Private Limited to provide the contents of its website (Income tax module only) at subsidised price to the members of ICAI As an ongoing attempt to enable the members to keep pace with the latest developments in direct taxes, the Direct Taxes Committee of ICAI has entered… Read More »

ICAI tie up for Direct Taxes Online contents to CA Members at concessional price with Wolters Kluwer

By | August 20, 2018

ICAI enters into an arrangement with Wolters Kluwer (India) Private Limited (WKIPL) to provide the contents of its website (Direct Taxes Online – DTOL only) at Rs. 6000/- (plus taxes) to the members of ICAI As an ongoing attempt to enable the members to keep pace with the latest developments in direct taxes, the Direct… Read More »

How to Set off and Carry Forward Loss under Income Tax [ FA 2018]

By | August 20, 2018

SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX ACT [As amended by Finance Act, 2018] Loss from exempted source of income cannot be adjusted against taxable income If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to… Read More »