Mar 31, 2016

CBDT notifies new ITR forms for AY 2016-17

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby make...

Mar 30, 2016

Special Clearing operations on 30 and 31 March 2016

A reference is invited to the circular issued by our Department of Government and Bank Accounts (DGBA.GAD.No.2969/42.01.029/2015-16 dated ...

New tax proposals of Delhi Value Added Tax

Sir, in the tax revenue, VAT constitutes the major part of our receipts, with nearly 65%- of total collections - and most of our developme...

Mar 16, 2016

New rule of fund manager regime u/s 9A of income tax

CBDT has issued a press release dated 16 March 2016 about Rules in respect of fund manager regime under section 9A of the Income-tax Act, ...

Income tax 5th amendment rule and new form 3CEJ and 3CEK

In exercise of the powers conferred by section 9A read with section 295 of the Income-tax Act, 1961(43 of 1961), the Central Board of Dire...

Mar 15, 2016

Strict amendments in penalty provisions of Income tax-Union budget 2016

Chapter XXI of the Income-tax Act, 1961 (ITA) embodies the penalties imposable for prescribed defaults. Of these, the penalty which concer...

Mar 14, 2016

No enforcement of demand where TDS deducted but not deposited

CBDT has issued a press release dated 11 March 2016 about Non-enforcement of recovery of demand against the assessee wheretax has been ded...

Mar 13, 2016

CBDT clarification on taxability of consortium members

Taxation of consortium of contractors formed to implement Engineering, Procurement  and Construction (EPC) contracts/turn key projects has...