Company registered on or after 1st day of March, 2016 to be taxed at 25% Posted on March 9, 2016 by ADMINLeave a Comment on Company registered on or after 1st day of March, 2016 to be taxed at 25%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
Amendmend in Section 44AD by UNION BUDGET 2016 Posted on March 2, 2016 by ADMINLeave a Comment on Amendmend in Section 44AD by UNION BUDGET 2016After 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 for Taxpayers. Posted on February 29, 2016 by ADMINUnion 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
List of Transaction for which Quoting of PAN is mandatory Posted on January 5, 2016 by ADMINRule “114B: Transactions in relation to which permanent account number is to be quoted in all documents for the purpose of clause (c) of sub-section (5) of section 139A”.- Every person shall quote his permanent account number in all documents pertaining
Mandatory quoting of PAN for specified transactions w.e.f 01 January 2016 Posted on January 5, 2016 by ADMINGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 31st December, 2015 Subject: Amendment of Rules regarding quoting of PAN for specified transactions to come into force from 1st January,
Electronic Filing of First Appeal before CIT (appeals) Posted on December 31, 2015 by ADMINGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 30th December, 2015 Subject: Electronic filing of first appeal before CIT (Appeals) – reg. It is the endeavour of
New Rules for Form 15CA/CB Posted on December 17, 2015 by ADMINSection 195 of the Income-tax Act (‘the Act’)empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended to strike
Extension of date for filing MGT 7 and AOC 4 (ROC Returns) Posted on December 4, 2015 by ADMINIn continuation of this Ministry’s General Circular 1412015 dated 28.10.2015, keeping in view requests received from various stakeholders, it has been decided to relax the additional fe€s payable on e-forms AOC4, AOC (CFS) AOC-4 XBRL and e- Form MGT-7 upto
Last date of filing forms AOC-4 (XBRL and non-XBRL) and MGT-7 extended till 30th Nov 2015 without additional fee. Posted on October 30, 2015 by ADMINLast date of filing forms AOC-4 (XBRL and non-XBRL) and MGT-7 have been extended till 30th Nov 2015 without additional fee. Click here to download the notification
Extension of date for filing of Income tax returns and tax audit reports to 31st October 2015. Posted on October 1, 2015 by ADMINCBDT extends due date For TAX AUDIT AND ITR all over INDIA vide order no 225 dated 1st October. Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 1st October, 2015 Subject: Extension of