New Procedure for Adjustment of demand against Income Tax Refund F. No. 312/109/2015-OT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes OFFICE MEMORANDUM Sub : Issue of refunds – procedure to be followed in other cases where notice under Section 245 has been issued for ITRs processed in F.Y. […]
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Repurchase of Government Stocks Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated February 02, 2016 NOTIFICATION Repurchase of Government Stocks F. No 4(5)-W&M/2015: The Government of India hereby notifies repurchase of (i) 7.59 per cent Government Stock 2016, (ii) 10.71 per cent Government Stock 2016, and (iii) 7.02 […]
Women can be Karta of HUF: Delhi High Court Citation- Mrs. Sujata Sharma vs Shri Manu Gupta (Delhi High Court), CS(OS) 2011/2006, Date of Judgment: 22-12-2015 Delhi High Court’s Landmark Judgement That Paved the Way for Women to Be Karta of a huf. HIGHLIGHTS In a judgment that is expected to have far reaching ramifications, […]
Investment in Penny Stock- Bogus or Cash Credit U/s. 68? Now-a-days Income Tax department investigates alleged trading/investment in shares and securities with collusion/connivance with any listed companies or with share broker by conducting Search/ Survey or by asking details u/s 133(6) of the Income Tax Act 1961. Income Tax department has various sources from where […]
Concept of Dual GST in the Making In a federal country like India where the power to tax domestic trade is divided between the Central Government and the State Government, the designing of a destination based GST becomes extremely complicated. A conventional national GST cannot be implemented without the States losing their fiscal autonomy.Dual GST […]