Mere AIR information that deposits made in bank account not indicative that income has escaped assessment u/s 147
In a recent judgment, ITAT Amritsar has upheld that the mere AIR information that deposits...
Selection of scrutiny for the cases selected manually on the basis of recommendations of CPC for AY 2013-14
AST- Instruction No. 141 DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewa...
Shipping charges using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995
ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal...
Keyman Insurance Policy (KIP) Premium is an allowable business expenditure
In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) ...
Exemption u/s 10(22A) 10(23C)(iiiac)-Nexus between activities of hospital/institution and the income is essential for claim
In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A),&nb...
Expenditure incurred for software development are capital expenditure
Calcutta High Court in a recent judgment has held that expenditure incurred for software develo...
Reminder from tax department to pay tax on interest income, revise returns if required
In last year’s tax returns a disclosure in tax returns was added for bank accounts held by a tax p...
Section 194I: TDS on Rent | Rates |Limit
Section 194I deals with TDS on rent paid. Whenever a person is liable to pay an amount exceeding the...
CBDT asks assessees to file/revise return by including correct interest income for AY 2014-15 and 2015-16
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RE...
Budget 2016 : Deduction of 100% profits to Affordable Housing Projects
Budget 2016 : Deduction of 100% profits to Affordable Housing Projects u/s 80IBA:- Section 80IBA is ...