Notification No 31/2018 Summary of Notification No 31/2018 The Central Board of Direct Taxes (CBDT) has released final notification amending Rule 44E of the Income-tax Rules, 1962 and Form 34C, 34D, 34DA as per Base Erosion and Profit Shifting (BEPS) Action 5. The new Forms 34C & 34D seek unique number used for identification of non-resident.… Read More »
MINISTRY OF FINANCE MINISTRY OF FINANCE DEPARTMENT OF REVENUE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] [CENTRAL BOARD OF DIRECT TAXES] Notification Notification New Delhi, the 22nd June, 2018 (INCOME (INCOME-TAX) S.O. 3039 (E).—In exercise of the powers conferred by sub-section (1) of section 115JH of the Income-tax Act, 1961 (43 of 1961) (hereinafter… Read More »
The Central Board of Direct Taxes (CBDT) has notified ‘Indian Railway Finance Corporation Limited 54EC Capital Gains Bond’ & ‘Power Finance Corporation Limited 54EC Capital Gains Bond’ for the purpose of non-deduction of tax at source under section 193 of Income Tax Act MINSTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION… Read More »
CA’s Chartered Accountants not to determine FMV of unquoted equity shares received by a company without adequate consideration-CBDT Notification Section 56(2) of the Income tax Act, 1961. creates a deeming fiction for bringing certain receipts/transactions within the scope of taxable income. (b) Under the provisions of clause (viia) to section 56(2), where a firm or… Read More »
PAN Card Application 49A amended to have Transgender option MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 18/2018 New Delhi, the 9th April, 2018 Income-tax G.S.R. 352(E).—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central… Read More »
The Central Board of Direct Taxes (CBDT) has omitted provision related to exemption of transport allowance of Rs. 1,600 per month granted to an employee to meet his expenditure for the purpose of commuting between the place of his residence and the place of his duty. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF… Read More »
Procedure for submission of electronic Form No 60 declaration by a person not having a PAN who enters into any transaction specified in Rule 114B DGIT(S)/ADG(S)-2/Form 60 Digitization/151/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 1 of 2018 New Delhi, 5 th April, 2018… Read More »
Procedure for registration and submission of SFT u/s 285BA under Rule 114E modified DGIT(S)/ADG(S)-2/Reporting Portal/2017/180 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 3 of 2018 New Delhi,5th April, 2018 Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA… Read More »
Procedure for registration and submission of Form No. 61 as per Rule 114D DGIT(S)/ADG(S)-2/Notification/106/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 2 of 2018 New Delhi, 5th April, 2018 Procedure for registration and submission of Form No. 61 as per Rule 114D of Income-tax… Read More »
Procedure for Form 61B registration, submission u/s 285BA by reporting financial institutions modified DGIT(S)/ADG(S)-2/Notification/106/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 4 of 2018 New Delhi, 5th April, 2018 Procedure for registration and submission of Statement of Reportable Account as per section 285BA of… Read More »