Category Archives: Income Tax

Fees of Rs. 2,000 for filing appeal against penalty order under Benami Act

By | December 2, 2019

Govt. prescribes fees of Rs. 2,000 for filing appeal against penalty order under Benami Act The Central Government has notified the Prohibition of Benami Property Transactions (1st Amendment), Rules, 2019 to prescribe fees of Rs. 2,000 for filing appeal against penalty order under the Prohibition of Benami Property Transactions Act, 1988. MINISTRY OF FINANCE (Department… Read More »

Income Tax Department conducts searches in NCR

By | December 2, 2019

Ministry of Finance Income Tax Department conducts searches in NCR Posted On: 02 DEC 2019 The Income Tax Department conducted a search and survey action on a group having interest in infrastructure, mining and real estate. More than 25 premises were covered in NCR. Search action led to recovery of unaccounted assets and incriminating documents.… Read More »

Web Portal for exchange of information on Income Tax Website

By | November 22, 2019

Web Portal for exchange of information on Income Tax Website Shri P.C. Mody, Chairman, Central Board of Direct Taxes (CBDT), inaugurated the Web Portal for Exchange of Information on Income Tax Website here today. The Web Portal consolidates all the relevant Automatic Exchange of Information (AEOI) related information at one place for convenient access by… Read More »

Disclose defaults in payment of interest on loans : SEBI to Listed Companies

By | November 21, 2019

In order to address the gaps in availability of information with respect to defaults, the Board has decoded that in case of default in repayment of principal or interest on loans from banks or financial institutions which continues beyond 30 days from the pre-agreed payment date, listed entities shall, promptly, but not later than 24… Read More »

New TDS Return in 26QD for TDS u/s 194M and Certificate in Form 16D Notified by CBDT

By | November 20, 2019

The CBDT has notified Form no. 26QD (challan-cum statement) for deposit of tax deducted at source (TDS) as per the provisions of section 194M. Section 194M provides for levy of TDS, at the rate of 5% on the sum paid or credited, to a resident, in a year on account of contractual work, commission, brokerage… Read More »