Validity of reopening of assessments There has been prevailing in the Income-Tax Department a very erroneous impression that under the provisions of the amended section 147 of the Income-Tax Act, 1961 (the Act), with effect from 1st April, 1989, the Assessing Officer (AO) has got unbridled powers to assess or reassess income which has escaped […]
Startup India – Action Plan in bullets points The Action Plan can be divided into the following broad heads: • Simplification and Handholding • Funding Support and Incentives • Industry-Academia Partnership and Incubation 1. Self certification through startup mobile app in 6 labor and 3 environmental laws.
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. […]
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, […]