How to e-file return using EVC without sending signed copy of ITR-V Taxpayers filing return of income electronically (without digital signatures) are required to send the signed copy of ITR-V… Read More
CBDT RELEASES CLARIFICATIONS ON ROLL-BACK PROVISIONS OF THE ADVANCE PRICING AGREEMENT SCHEME The Advance Pricing Agreement provisions were introduced in 2012 through the insertion of sections 92CC and 92CD in… Read More
SERVICE TAX NEW RATES APPLICABLE W.E.F. 1ST JUNE, 2015 Yesterday Central Government has issued most awaited notification for change in effective rate of Service Tax from 12.36% to 14%. New rates… Read More
International Taxation What is International Taxation? International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country's tax… Read More
INCOME TAX RETURN FORMS ITR 1, 2 AND 4S SIMPLIFIED FOR CONVENIENCE OF THE TAX PAYERS A New Form ITR 2A Proposed which can be Filed by an Individual or… Read More
HIGHLIGHT ON TAX UPDATE Income Tax Act SECTION 9 Income - Deemed To Accrue Or Arise In India Royalty: Where at time of making the assessment, assessee disclosed all… Read More
INCOME CAN BE DETERMINED ON ESTIMATION BASIS ONLY AFTER REJECTION OF BOOKS OF ACCOUNT WITH A VALID REASON Section 145 of the Income-tax Act, 1961 - Method of accounting -… Read More
Special Unit of IT Dept. to Focus on Undisclosed Assets Overseas The government has established a specialized unit of the Income-tax Department to facilitate it to commence a focused inquiry… Read More
APPLICATIONS FOR CONDONATION OF DELAY IN FILING RETURNS CLAIMING REFUND AND RETURNS CARRY FORWARD OF LOSS AND SET-OFF Comparison of New guidelines with Existing/earlier GuidelinesNew: Circular 09/2015 dated 9-6-2015VSEarlier: Instructions 13/2006… Read More
OVERVIEW OF NEW RETURN FORMS FOR ASSESSMENT YEAR 2015-16 GOVT. NOTIFIES SIMPLIFIED ITR FORMS; NOW TAXPAYERS EARNING EXEMPT INCOME ABOVE RS 5,000 CAN FILE ITR-1 AND 4S Introduction to New… Read More