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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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Clarifications in respect of section 269ST

In a bid to promote Mr. PM Modi’s dreams ‘ Digital India ‘, & ‘ Cash-Less Economy’, Tax Policy and Legislation division of Central Board of Direct Taxes issues Circular No. 22/2017 regarding clarifications in respect of section 269ST of the Income Tax Act, 1961...

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All you wanted to know about Form 16 and Form 16A

Form 16 is basically a certificate issued by an employer that Tax Deducted at Source (TDS) has been deducted from the salary. Income Tax Act says that it is the duty of an employer to issue Form 16 once in a year on or before...

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No TDs on Passenger Services Fees (PSF)


Central Board of Direct Taxes notifies vide Circular No. 21/2017 dated 12th June 2017, that section 194-1 of the Act, will not  apply on  Passenger  Services Fees (PFS) by an Airlines to an Air Operators. Circular No. 21/2017 F.No. 279/Misc./140/2015/ITJ Government of India Ministry of Finance...

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New Form 16C for payment of TDS on Rent u/s 194-IB

Central Board of Direct Taxes issues Notification No. 48/2017 dated 08th June, 2017 related to New Form 16C for TDS certificates and Form No. 26QC for payment of TDS on Rent under section 194-IB of Income Tax Act, 1961, MINISTRY OF FINANCE (Department of Revenue)...

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Relief in capital gains tax even if without STT

The CBDT has issued a rule giving relief in capital gains tax, vide notification no. 43/2017 dated 05-06-2017 to FDI,ESOP,Off-Market Transactions recognised by RBI,SEBI,NCLAT,Courts, even if no STT has been paid on them. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION...

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Furnish Form 15G/15H to deductor Every Financial Year

CBDT declared that New Form 15G/15H to be furnished to the Deductor or  Payer for each Financial Year via Notification No. 6/2017, Read below: F.No. Pr. DGIT(S)/CPC(TDS)/NOTIFICATION/2017-18 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of income-tax(Systems) New Delhi Notification No....

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