The Central Board of Direct Taxes(CBDT) has issued a clarification regarding Amendment in Section 206C of the Income Tax Act vide Finance Act 2016. Through the Finance Act 2016, Central Government has amended Section 206C
The Budget 2022 has proposed the Provision relating to Rationalisation of the provision of Charitable Trust and Institutions. Income of any fund or institution or trust or any university or other educational institution or any hospital
The Finance Act, 2016 has amended the provisions relating to arrest procedure under sections 89,90 and 91 of the Finance Act, 1994 w.e.f. 14.05.2016. According to these provisions, a person who collects service tax but
In a major relief to digital marketing firms having clients outside India, the Income Tax Appellate Tribunal ( ITAT ), Jaipur bench has dismissed the department’s appeal seeking disallowance from the advertiser for not charging
The Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the set off of depreciation and business loss. The assessee company, ACE Infracity Developers P. Ltd. is engaged in the business of real estate development as
The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward and declare such
The Government has introduced equalization levy of 6 percent on online advertisers. The Finance Act, 2016 had inserted a separate Chapter VIII titled ‘Equalization Levy’ in order to tap tax on income accruing to foreign
A division bench of Delhi High Court comprising Justice Manmohan and Justice Manmeet Pritam Singh Arora held that, Section 148 Notices sent as an attachment through emails, from the designated e-mail addresses of the JAOs,
The two-judge bench of the Supreme Court of India, recently upheld the validity of the provisions of the Taxation Laws (Second Amendment) Bill, 2016 provides for imposition of tax, surcharge, penalty and deposit of income
Central Board of Direct Taxes(CBDT) will hold a ‘Talkathon’ tomorrow to spread awareness about the newly introduced Income declaration scheme. The Finance Act 2016 has enabled The Income Declaration Scheme 2016 to be starting from
The provision that the withdrawal from National Pension Scheme (NPS) is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 vide Finance Act, 2016 by inserting clause
The Lok Sabha today passed the Taxation Laws (Second Amendment) Bill, which amends the Income-Tax Act, 1961, and the Finance Act, 2016. The bill was moved by Union Finance Minister Arun Jaitley was passed by voice vote. The
Two NGOs – Association for Democratic Reforms and Common Cause, have approached the Apex Court challenging the provisions of Finance Acts 2016 and 2017 on the ground that these provisions paved to unlimited, unchecked funding
The Central Board of Direct Taxes (CBDT) today released draft notification on Foreign Company said to be resident in India under Section 115JH of the Income Tax Act, 1961. Finance Act, 2016, inter alia, introduced special provisions
The Uttarakhand High Court has held that the persons prosecuted under section 420 of the Indian Penal Code is not eligible to avail the benefit of the Income Declaration Scheme, 2016. As per the Income