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 »
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 »
CBDT authorizes CIT u/s 119(2)(b) to admit belated applications in Form No. 9A and Form No.10 in respect of AY 2016-17-Circular 7/2018 Circular No. 7 / 2018 F.No.197/55/2018-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 20th December , 2018 Sub: Condonation of delay under… Read More »
Appeal by Income Tax Department for Low Tax Effect The Central Board of Direct Taxes (CBDT) has modified Para 10 of Circular No. 3 of 2018 issued on 11-07-2018 that provides that adverse judgement relating to issues enumerated in said para should be contested no merits notwithstanding that the tax effect entailed is less than… Read More »
Circular No 5/2018 F. No. 370149/155/2018-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, Dated 16th August, 2018 Clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961 Section 270AA of the Income-tax Act, 1961 (the Act) inter alia provides that w.e.f. 1 st April,… Read More »
Circular No 6/2018 Govt Deferred General Anti-Avoidance Rules ( GAAR) & GST Compliance disclosure in Tax Audit Report (Form 3CD) F. No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi, Dated the 17th of August, 2018 Order under section 119 of the Income-tax Act, 1961 Section 44AB of… Read More »
CBDT Circular No 4/2018 The Central Board of Direct Taxes (CBDT) following Apex Court ruling in case of HCL Technologies [2018] (SC) has clarified that freight, telecommunication charges and insurance expenses are to be excluded from both ‘export turnover’ and ‘total turnover’ while working out deduction admissible under section 10A. Download CBDT Circular No 4/2018 Dated… Read More »
CBDT raises threshold limit for filing of appeal before ITAT, High Courts and Supreme Court CBDT Circular No 3/2018 Summary of CBDT Circular No 3/2018 With a motive to reduce the litigation on Income-tax matters the CBDT Circular No 3/2018 has sharply increased the threshold limit for filing of appeal before judicial authorities. The revised limit… Read More »
CIRCULAR No. 2/2018 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2017 F. No. 370142/15/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated, 15th of February, 2018 CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 Section/Schedule Particulars/Paragraph number Finance Act, 2017 First Schedule Rate Structure, 3.1-3.4 Chapter III Income-tax Act, 1961 2… Read More »
Circular No 01/2018 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 10th of January, 2018 Order under section 119 of the Income-tax Act, 1961 Subject: Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 &… Read More »
CIRCULAR NO 29 /2017 Deduction of Tax at Source from Salaries u/s 192 of the Income Tax Act, 1961 for FY 2017-18-CBDT Circular Under section 192 of the Income Tax Act, 1961, every person responsible for paying any income chargeable under the head “Salaries” is liable to deduct income-tax on the estimated income of the… Read More »
Circular No 28/2017 F. No. 500/1 0/201 7-FT&TR-lV Government of lndia Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated, the 7th of November, 2017 Sub: Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the lncome-tax Act. 1961 Under the provisions contained in section 9(1Xi)… Read More »
Circular No 27/2017 F. No. 370149/213/2017 -TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** New Delhi, Dated 3rd November, 2017 Clarification on Cash sale of agricultural produce by cultivators/ agriculturist Representations have been received from the stakeholders. regarding applicability of income-tax provision to cash sale of agricultural… Read More »
Tax Audit date Extension till 07.11.2017 : CBDT Order F.No 225/270/2017/ITA.II Dated 31st October 2017 CBDT further extends the due date for filing Income Tax Returns and reports of Audit for AY 2017-18 from 31st October 2017 to 7th November 2017. CBDT Order for Tax Audit date Extension for FY 2016-17 Download TaxHeal Mobile… Read More »
CBDT allows PKGKY 2016 challan corrections specifies type of errors which can be corrected. Compulsory deposits challan under PMGKD are not under CBDT power as the Scheme was handled by the DEA F. No. 225/231/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 27th of September,… Read More »
Circular Number 24/2017 F. No 133/23/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 25th July, 2017 Subject: Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards… Read More »
Circular No 23/ 2017 Dated 19h July 2017 Subject : modification of Circular No 1 of 2014 in view of Substitution of Service tax by Goods and Service tax ( GST ) The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 1/2014 dated 13-1-2014 clarifying that wherever in terms of the agreement or… Read More »
F.No.279/Misc-142/2007-ITJ-(Pt) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 14th July, 2017 To, All Principal Chief Commissioners of Income Tax Sub: Modification of Circular No. 21/2015 dated 10.12.2015 Madam/Sir, References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going… Read More »
Circular No. 22 of 2017 [ Income Tax ] Dated 03rd July, 2017 Summary : The receipt of one instalment of loan repayment in respect of a loan shall constitute a ‘single transaction’ as specified in clause (b) of section 269ST of the Act and all the instalments paid for a loan shall not be aggregated for… Read More »
SECTION 119 OF THE INCOME-TAX ACT, 1961 CONDONATION OF DELAY IN FILING REFUND CLAIM AND CLAIM OF CARRY FORWARD LOSSES UNDER SECTION 119(2)(b) CIRCULAR 9/2015 [F.NO.312/22/2015-OT], DATED 9-6-2015 In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central Board of Direct Taxes (the Board) from time to time to deal with the applications for condonation of delay… Read More »