June 20, 2015 - India ITR

Instructions to Subordinate Authorities – Condonation of Delay in filing Refund Claim and Claim of Carry Forward Losses Under Section 119(2)(b)

Income Tax, Income Tax Circulars/ NotificationBy Himanshi June 20, 2015

CIRCULAR 9/2015 [F.NO.312/22/2015-OT], DATED 9-6-2015 In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central Board of Direct Taxes (the Board) from time to time to deal with the applications for condonation of delay in filing returns claiming refund and returns claiming carry forward of loss and set-off thereof under section 119(2)(b) of the Income-tax…

Residential status under Income Tax Act, 1961 – Individual and HUF

Income TaxBy Himanshi June 20, 2015

Residential status of an assessee is important in determining the scope of income on which income tax has to be paid in India. Broadly, an assessee may be resident or non-resident in India in a given previous year. Residential status of an Individual & Hindu Undivided Family Under Section 6(1), an individual is said to…

Clarification on grant of registration as a Foreign Portfolio Investor (FPI) to Registered Foreign Venture Capital Investors (FVCI)

MCA/ SEBI, SEBI CircularsBy Himanshi June 20, 2015

CIRCULAR CIR/IMD/FIIC/05/2015 June 12, 2015 To, 1. All registered…

Draft Sovereign Gold Bond Scheme

Govt. SchemesBy Himanshi June 20, 2015

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: “India is one of the largest consumers of gold in the world and imports as much as 800-1000 tonnes of gold each year. Though stocks of gold in India are estimated to be over 20,000 tonnes, most of this…