Category Archives: IT Circular

CBDT released Explanatory Notes to the Provisions of the Finance Act 2017 : CIRCULAR No 2/2018

By | February 16, 2018
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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 : Processing of income-tax returns under section 143(1) :Mismatch 26AS /16A

By | January 11, 2018
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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 »

TDS on Salaries for FY 2017-18 : CBDT Circular No 29 /2017

By | January 7, 2018
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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 : Redemption of share or interest outside India : Indirect Transfer does not apply : CBDT

By | November 8, 2017
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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 : Cash sale of agricultural produce by cultivators/ agriculturist

By | November 6, 2017
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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 for AY 2017-18 : CBDT Order

By | November 1, 2017
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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 »

PKGKY 2016 challan corrections allowed by CBDT

By | September 29, 2017
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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 »

Computation of book profit for MAT u/s 115JB for Ind AS : CBDT FAQ : Circular Number 24/2017 Dated 25th July 2017

By | July 26, 2017
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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 »

No TDS on GST Paid / Payable on Services if Shown Seprarately in Tax Invoice : CDBT Circular No 23/ 2017 Dated 19h July 2017

By | July 21, 2017
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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 »

Tax effect of filing appeal in case of section 115JB / 115JC : CBDT Modified Circular 21/2015 dated 10.12.2015

By | July 15, 2017
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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 »