HIGH COURT OF BOMBAY Principal Commissioner of Income-tax v. Vembu Vaidyanathan AKIL KURESHI AND M. S. SANKLECHA, JJ. IT APPEAL NO. 1459 OF 2016 JANUARY 22, 2019 Sham Walve for the Appellant. Dr. K. Shivram, Sr. Counsel and Rahul Hakani for the Respondent. JUDGMENT P.C.- This appeal is filed by the revenue to challenge the judgment of Income Tax Appellate Tribunal. We… Read More »
Income Tax slabs for Individuals for FY 2019-20 (AY 2020-21) As per interim budget on February 01, 2019 , following tax slabs has been proposed for AY 2020-21 ( Refer Finance Bill 2019 ] The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate from Rs. 2,500… Read More »
How to file Income Tax Appeal Online – Form 35 to CIT (A) आयकर अपील ऑनलाइन कैसे फाइल करें Refer Income Tax Appeal : Free Study Material
PAN-Aadhaar Linkage mandatory for filing Income Tax Returns from AY 2019-20: SC S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS SPECIAL LEAVE PETITION (CIVIL) Diary No(s).34292/2018 Date : 04-02-2019 (Arising out of impugned final judgment and order dated 24-07-2018 in WP(C)… Read More »
Cabinet Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman Posted On: 06 FEB 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman. The approval comes in the wake of alternative complaint redressal mechanisms chosen by public and… Read More »
Ministry of Finance Highlights Of Interim Budget 2019-20 Posted On: 01 FEB 2019 The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows: New Announcements Farmers · 12 crore small and marginal farmers to be provided with assured… Read More »
Ministry of Finance Government proposes to launch mega pension yojana ‘Pradhan Mantri Shram-Yogi Maandhan’ for unorganised sector workers with monthly income upto rs. 15,000; 10 Crore Labourers and workers in the sector to be benefitted Posted On: 01 FEB 2019 The Government proposes to launch a mega pension yojana namely ‘Pradhan Mantri Shram-Yogi Maandhan’for the… Read More »
Ministry of Finance Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposed Relief of over Rs 23,000 crore to estimated 3 Crore small and middle class tax-payers TDS threshhold on interests on small savings raised Boost to housing and real estate sector FM announces a slew of tax reliefs for… Read More »
The Central Board of Direct Taxes (CBDT) has notified Centralised Verification Scheme, 2019 for the purpose of issuance of notice and for processing of information or document for the purpose of section 133C. The new scheme is introduced in suppression of its earlier scheme. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the… Read More »
Budget 2019 – 20 Budget 2019 is presented on 01.02.2019 in India Key to Budget Documents Budget Speech Budget at a Glance Annual Financial Statement Finance Bill 2019 Memorandum Receipt Budget Expenditure Budget The Macro Economic Framework Statement Medium Term Fiscal Policy cum Fiscal Policy Strategy Statement Implementation of Budget Announcements 2018-19 Vote on Account … Read More »
Ministry of Finance CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days Posted On: 22 JAN 2019 The Non-filers Monitoring System (NMS) aims to identify and… Read More »
Ministry of Finance Central Board of Direct Taxes (CBDT) clarifies regarding issue of Prosecution Notices Posted On: 21 JAN 2019 The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading… Read More »
GST and Income Tax Compliance Calendar for January 2019 [ Also Refer Month wise Compliance Calendar under GST and Income Tax ] 7 January 2019 Under Income Tax Act:- Due date for deposit of Tax deducted/collected for the month of December, 2018. However, all the sum deducted/collected by an office of the government shall be… Read More »
Filing of Income-tax returns and its processing is going to be hassle-free and much faster with the introduction of Rs. 4,241 crore project for integrated e-filing and centralized processing resulting in ‘One day’ Income-tax refund. The project is to be executed by Infosys Ltd. and is estimated to be completed within 18 months and would… Read More »
CBDT Circular on TDS from salaries during FY 2018-19 u/s 192. : CIRCULAR NO 01 /2019 DEDUCTION OF TAX AT SOURCEINCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2018-19 NEW DELHI, the 1 st January, 2019 Download CIRCULAR NO 01 /2019 Click here Read / Download CIRCULAR NO… Read More »
New Income Tax News 31.12.2018 New Income Tax News GST and Income Tax Compliance Calendar for January 2019 : Due Dates (updated) Why you should file belated Income Tax Return (ITR) before December 31 CBDT Circular for Explanatory Notes to Finance Act 2018 : Circular No 08/2018 Download/Print How to Verify TDS Certificate of Income… Read More »
GST and Income Tax Calendar for December 2018 7 December 2018 – Due date for deposit of Tax deducted/collected for the month of November, 2018 under Income Tax Act . However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where… Read More »
Why you should file belated ITR before 31 st December If you have not filed your income tax return (ITR) for FY2017-18 till now, it is high time you get a move on. According to newly inserted law, i.e., Section 234F of Income Tax Act , if an individual who files the ITR after the… Read More »
How to Verify TDS Certificate of Income Tax Deductee can verify TDS Certificate (16/16A) with the help of “Verify TDS Certificate” option available at TRACES. • Verification of TDS certificate enables Taxpayer to verify whether the deducted tax has actually been received by the Government or not. • TDS Certificates (16/16A) can be verified from… Read More »
Explanatory Notes to the Provisions of Finance Act 2018 CBDT has issued circular on the Explanatory Notes to the Provisions of the Finance Act, 2018. The Finance Act, 2018 as passed by the Parliament, received the assent of the President on the 29th day of March, 2018 and has been enacted as Act No. 13 of 2018. The circular… Read More »
Extension of due date for furnishing report u/s 286 (4) of Income-tax Act 1961 Extension of the due date for furnishing of report u/s 286 (4) of the Income-tax Act 1961 by constituent entity. Circular No. 9/2018 F No 370142/17/2018 -TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New… Read More »
Converting Form 26AS Text File to Excel File •Tax Payer can view/download 26AS from TRACES from A.Y 2009-10 onwards . 26AS is available for download from https://tdscpc.gov.in Zip file will be downloaded Extract the Text file :-Password to open for Form 26AS in PDF/Text Format is “ Date of Birth of Taxpayer“ in DDMMYYYY format. Where… Read More »
Password Formats for Income Tax Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification Report download from Traces Password for Form 16/16A/27D/TBR download from Traces Password for Intimation received through Email from Traces Password to open Form 16B Password to open… Read More »
How to Download 26AS in Excel Step 1 : To Download 26AS in Excel Visit https://tdscpc.gov.in and login as Taxpayer Step 2 Go to View/ Verify Tax Credit and Select relevant Assessment Year Step 3 : in the view as Select “Excel” and press view/ Download button Step 4 : Go to Download Tab and Click requested… Read More »
Password for Registration on TDS CPC Portal – Traces Following is the password format for registration on https://tdscpc.gov.in Password must contain a minimum of 8 alpha numeric characters with at least one capital letter. It is applicable for all users i.e. Deductor and Taxpayer. Example Special Characters allowed: space, ‘, &, “, comma, ; It… Read More »
How to file Form 13 online : Low /No TDS TCS Certificate under Income Tax Download TaxHeal Mobile App What is Form 13? Form 13: An application submit by a person for a certificate under section 197 and/or 206C (9) of the Income-tax Act, 1961, for no deduction of tax or deduction/collection of tax at… Read More »
Password for Form 16/16A/27D/TBR download from Traces Password Format : First Four Letters of TAN_Date of Filing of Regular Statement ( Date should be in the format of DDMMYYYY) Example : AAAA_01012011 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification… Read More »
Password for Form 16/16A/27D/TBR download from Traces Password Format : TAN in capital letters Example :AAAA11111A Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces website Password for Justification Report download from Traces Password to open Form 16B Password to open Form 26AS Password to open… Read More »
Password for Justification Report download from Traces Format: JR_TAN_FormType_Quarter_FY for a statement processed by TRACES. Example : JR_AAAA11111A_24Q_Q3_2010-11 For the Statements processed prior to Oct’12 , password will be Regular Statement ‘s Token Number. Example : 123456789123564 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Conso File download from Traces… Read More »
Password to open Conso File download from Traces website Password Format : TAN_ Download Request number Example : AAAA11111A_23456 Related Post Password Format for Registration on TDS CPC Portal – Traces Password to open Form 16B Password to open Form 26AS Password to open Income Tax Refund Payment Advice Password to open intimation letter/ justification report… Read More »