CBDT has issued notification no. 53/2016 dated 24 June 2016 giving relaxation to Non-residents from furnishing PAN no. in India. For non resident not having permanent account number the provisions of section 206AA shall not apply in respect of payments in
The board in order to clarify the applicability of TCS where sales consideration was partly received in cash and partly in cheque issued circular 23/2016 on dated 24th june 2016 in the form of Question and Answers as under: Question
The Central Board of Direct Taxes (CBDT) has notified rules regarding equalisation levy, a tax which will be levied on income arising to companies like Google, Yahoo, Facebook, for providing services like online advertisements to professionals and businessmen of India.
In order to reduce the quantum of cash transaction in sale of any goods and services and for curbing the flow of unaccounted money in the trading system and to bring high value transactions within the tax net, it is proposed
In order to provide relief to newly setup domestic companies engaged solely in the business of manufacture or production of article or thing, a new section 115BA has been inserted in the Income Tax Act 1962, which provide option to domestic company to
After section 44AD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2017, namely:— Section 44ADA, w.e.f 01st April 2017 Summary (1) Notwithstanding anything contained in sections 28 to 43C,
Union Budget 2016 Highlights. Relief Section 87A Rs. 2000 to Rs. 5000: Ceiling of tax rebate under section 87A increased from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income upto Rs 5 laks Relief Sec