Home » Archive by category "Income Tax" (Page 2)

Clarification on Long Term Capital Gains by CBDT after Budget 2018

Clarification issues by CBDT through Frequently Asked Questions regarding taxation of long-term capital gains proposed in Finance Bill, 2018 – (Ref File No. 370149/20/2018-TPL DT: 04-February-2018) Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of...

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Updates in Life Insurance Products, PMSBY and PMVVY Scheme

Life Insurance Products  Insurance Regulatory and Development Authority of India (IRDAI) has informed that in order to give an added fillip in providing easy access to Life Insurance Products to people at large and to enhance insurance penetration and density, Guidelines on Point of Sales...

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Forbid Cash Transaction and related Income Tax Provisions

What Income Tax Act Says about Cash Transactions and Consequences of Non-Compliance of related provisions in the act & rules. After the demonetization Indian economy gradually moving towards the Cashless economy and increase the use of digital money. An increase of electronic transactions creating problems...

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New Era of Direct Tax Legislation begin

New era of Direct Tax Legislation being with Constitution of Task Force for drafting a New Direct Tax Legislation During the Rajaswa Gyan Sangam held on 1st and 2nd September, 2017, the Prime Minister Shri Narendra Modi had observed that the Income-tax Act, 1961 (the...

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Guidelines for adjustment under section 143(1)(a)(vi) of IT Act

Central Board of Direct Taxes (CBDT), issues guidelines for communication under section 143(1)(a)(vi) of the Act while considering returns for processing pertaining to ITR Forms 2, 3, 4, 5 & 6. Subject: Processing of income-tax returns filed in Forms ITR-2, 3, 4, 5 & 6...

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Letter of Undertaking facility extended to all exporters

Central Board of Direct Taxes issues Notification No. 37/2017-Central Tax on extension of LUT ( Letter of Undertaking ) facility to All Exporters in India Notification No. 37 /2017 – Central Tax New Delhi, the 4th October, 2017 G.S.R….(E).- In exercise of the powers conferred...

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Focus September 2017 – Income Tax

FOCUS SEPTEMBER 2017 – INCOME TAX: Today, on 30th September, 2017, here all you need to know about few important development and events in Income tax during the month of September, 2017. Focus September 2017 No. 01 :- In a bid to Government’s initiative towards...

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Excerpt of New Development in CGST : September,17

New Development in CGST

Excerpt of New Development in CGST during September, 2017. After Implementation of GST from 1st July, 2017, so many Circulars & Notifications published by CBEC, GST Council, GSTIN as well Central and State Government also. Today, we will have a bird eye view of such...

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Should TDS under Income Tax be deducted on GST ?


Some one has raised a query regarding the Income Tax deduction (TDS) as per Income Tax Act, 1961 is to be deducted on GST or not at the time of making a payment. This  confusion of the people has been removed by the CBDT  vide...

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Declare Cash deposited during Demonetization in ITR


Income Tax return filing season is started, Government has started campaigning for ITR filing through digital and social media, internet , TV Ads etc. Although the last date to file for individuals is July 31, you must start work on your income tax return now...

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