Penalty on professionals for furnishing incorrect information in reports

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Penalty on professionals for furnishing incorrect information in statutory report or certificate   The thrust of the Government in recent past is on voluntary compliance. Certification of various reports and certificates by a qualified professional has been provided in the

CBDT Extends Due Date of Filing Return of Income to 17 October

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The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September of the following year. The tax payers whose business receipts exceed Rupees

Relaxation from deduction of tax at higher rate under sec-206AA for NR

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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

CBDT issues clarification regarding amendment in Section 206C

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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

Equilization Levi of 6% w.e.f 01 june 2016

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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.

Online uploading of TDS/TCS return on income tax e-filing portal

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With effect from 1st May 2016,  the deductors/collectors will have option of e-TDS/TCS returns through e-filing portal or submission at TIN facilitation Centres. The Deductors who desires to upload the Quarterly TDS/TCS e-Returns online, shall “upload the same at e-Filing Portal of

Extension of due date for Oct-March 2016 Service Tax Return

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The Central Government has extended the date of filing of ST-3 returns to 29.04.2016 from 25.04.2016 owing to certain difficulties being faced by the taxpayers in the ACES application. Order 1/2016 — Service Tax dated 25.04.2016 has been issued in