January, 2016 Thursday, January 7, 2016 Due date for deposit of Tax deducted/collected for the month of December, 2015. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan.…
7 January 2016 – Due date for deposit of Tax deducted/collected for the month of December, 2015. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan. 7 January 2016…
The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, it is mandatory under Rule 114B of the Income-tax Rules to quote PAN where the transactions exceed a specified limit. In case of transactions…
The Income Tax Department is committed to providing fair and transparent tax administration and continuously improve taxpayer services.Taking another step in this direction, Central Board of Direct Taxes (CBDT) has issued instructions to the assessing officers to be specific in enquires made in the case of tax payers whose returns are under scrutiny. The directions…
It is the endeavour of the Income tax Department to digitise various functions of the Department for providing efficient taxpayer services. As another significant step in this direction, electronic filing of appeal before CIT(Appeals) is being made mandatory for persons who are required to file the return of income electronically.Electronic filing of appeal along with…
Instruction No 19/2015 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, dated the 29th of December, 2015 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioners of Income-tax All Pr. Directors-General of Income-tax/Directors-General of Income-tax Subject – Issuing Questionnaire in cases selected for scrutiny- regarding Sir/Madam Instances have…
Circular No. 23 /2015 F.No.279/Misc./140/2015-1TJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 28th December, 2015 Subject:- TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts — reg. Section 194A of Income Tax Act, 1961 (“the Act”) stipulates deduction…
F. No. 142/11/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 23rd December, 2015 Subject: – Draft Guiding Principles for determination of Place of Effective Management (POEM) of a Company. Section 6(3) of the Income-tax Act, 1961, prior to its amendment by the Finance Act, 2015, provided that…
Instruction Ito. 1E1 /Z015 F. No.153 /12/2015-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (TPL Division) *** New Delhi, the 23rd December, 2015 Subject: Applicability of Minimum Alternate Tax (MAT) on foreign companies for the period prior to 1.04.2015-reg On the issue of applicability of Minimum Alternate Tax…
Circular No. 22/2015 F.No.279/Misc./140/201.5-1L1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17thh December. 2015 Subject:- Allowability of employer’s contribution to funds for the welfare of employees in terms of section 4313(b) of the Income Tax Act. As per section 438 of the Act certain deductions arc…