CBDT asked its compliance officers to file appeal in court only on merit basis. It also mentioned some of the cases where court did not found any merit in case and finally decided in favour of assessee. It mentioned that besides financial costs, litigation also entails tarnishing the image of the Department and straining…
Central Govt. has authorised 7 entities to issue tax-free, secured, redeemable, non-convertible debentures bonds during Financial Year 2015-16. Govt. has also mentioned the conditions as to eligibility, tenure of bonds, rate of interest, issue terms manner of repayment of bonds. Complete details of notification are given below: CONDITIONS 1. Eligibility – The following…
CBEC has specified the following conditions, safeguards and procedures for issue of invoices, preserving records in electronic form and authentication of records and invoices by digital signatures: 1. Every assessee proposing to use digital signature shall use Class 2 or Class 3 Digital Signature Certificate duly issued by the Certifying Authority in India. 2. (i)…
Vide notification no. 51/2015 dt. 25th Jun-15, TDS is not applicable on the payments of following nature in regard to investment fund: any income of an investment fund other than the income chargeable under the head —”Profits and gains of business or profession” “Investment fund” means any fund established or incorporated in India in the…