Category Archives: Income Tax

E-filing of Income Tax and CPC 2.0 Project

By | June 25, 2019

E-filing of Income Tax Posted On: 24 JUN 2019 There is a marked increase in the number of income tax filed through e-filing. The number of e-Returns submitted for Assessment Year 2018-19 is 6,49,39,586 as against 5,47,30,304 e-Returns filed for the Assessment Year 2017-18, thereby marking a remarkable increase of 18.65% over previous Assessment Year.… Read More »

Disabled armed forces Pension Exemption : CBDT CIRCULAR No. 13/ 2019

By | June 25, 2019

Exemption of pension granted to disabled armed forces personnel available to all ranks but not to those retired on superannuation or otherwise CIRCULAR No. 13/ 2019 F. No. 173/250/2019-ITA-1 Government of India Ministry of Finance Department  of  Revenue Central Board of Direct Taxes North Block, New Delhi the 24th June, 2019 Subject: Exemption of service element… Read More »

Direct Taxes Ready Reckoner (42nd Edition A.Y. 2019-20 & 2020-21) by Vinod K. Singhania

By | June 21, 2019

Direct Taxes Ready Reckoner (42nd Edition A.Y. 2019-20 & 2020-21) by Dr. Vinod K. Singhania (Author) The main features of the book are: Amendments made by the Finance Bill, 2019, are duly incorporated in respective Chapters of the Reckoner and are appropriately highlighted. Comprehensive analysis of amendments with illustrations is given separately in Reference 2: Amendments at a glance. Law stated in this book is… Read More »

Income Tax Refund couldn’t be withheld due to error in Computer System : HC

By | June 20, 2019

HIGH COURT OF BOMBAY Vodafone Idea Ltd. v. Deputy Commissioner of Income-tax (TDS) AKIL KURESHI AND SARANG V. KOTWAL, JJ. WRIT PETITION NO. 1103 OF 2019 APRIL  30, 2019 Deepak Chopra and Atul K. Jasani, Adv. for the Petitioner. Sham Walve, Adv. for the Respondent. ORDER   1. Heard learned Counsel for the parties for final disposal of the Petition. Petitioner’s grievance is… Read More »

Assessment of Firms : CBDT New Circular No. 12/2019 for Assessing Officer

By | June 20, 2019

Assessment of Firms-Some of important issues to be kept under consideration by the Assessing Officers while framing assessment Circular No. 12/2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 19th of June, 2019 Subject: ‘Assessment of Firms’ some of the important issues to be kept… Read More »

Set-off of loss against income u/s 115BBE Allowed : CBDT Circular No. 11 /2019

By | June 20, 2019

Assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17 Circular No. 11 /2019 Government of India  Ministry of Finance  Department of Revenue Central Board of Direct Taxes North-Block, New Delhi, dated the 19th of June, 2019 Subject: Clarification regarding non-allowability of set-off of losses… Read More »

Taxation Of Gifts Under The Income Tax Act , 2019 edition book

By | June 15, 2019

Taxation Of Gifts Under The Income Tax Act & Law On Gifts Detailed analysis of income tax provisions regarding taxability of gifts with tax planning considerations. An overall, broad and illustrative commentary on the law on gifts as contained in various Acts – The Transfer of Property Act The Contract Act Hindu and Mohammedan Law… Read More »

Compounding of Offences revised guidlines issued by CBDT

By | June 15, 2019

The Central Board of Direct Taxes (CBDT) has issued Guidelines for Compounding of Offences under Direct Tax Laws, 2019 in supersession of earlier Guidelines dated 23-12-2014 These Guidelines shall come into effect from 17.06.2019 and shall be applicable to all applications for compounding received on or after the aforesaid date. F.No. 285/08/2014-IT(Inv.V)/147 Government of India Ministry… Read More »

All About Trusts from Income Tax ,Accounting and GST Angle 2019 Book

By | June 13, 2019

ALL ABOUT TRUSTS FROM INCOME TAX, ACCOUNTING AND GST ANGLE 2019 Price Rs 1415 Click here to buy online Hardcover: 1325 pages Publisher: TAX PUBLISHERS; YEAR 2019 edition (1 January 2019) Firstever comprehensive Trusts Treatise from Income Tax, Accounting as well as GST perspective covering every practical aspect thereof. Convincingly plain, simple, useful, practical but sumptuously exhaustive… Read More »