Income Tax

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes   PRESS RELEASE   New Delhi, 15th December, 2015   Subject: Amendment of Rules regarding quoting of PAN for specified transactions – regarding. The Government is committed to curbing the circulation of black money and widening …

10 common mistakes for not getting timely income tax refundIncome Tax  Refund: I have filed income tax return and claimed income tax refund, but till now I have not received my refund. How do I know about my refund status? Refund will be delivered only after processing of income tax …

                Income Tax Jurisdiction list of Non-Corporate Assessees in Bangalore with effect from 15th November, 2014 AREAS FALLING IN THE PIN CODE/ Principal source of income from Ward [in Bengaluru] Circle [in Bengaluru] Range [in Bengaluru] CIT Charge CCIT Region 560001, & 560038 …

                Income Tax Jurisdiction of Salary Assessees in Bengaluru with effect from 15th November, 2014 BRIEF DISCRETION OF THE CLASS OR CASESOF ASSESSEES COVERED Ward [in Bengaluru] Circle [in Bengaluru] Range [in Bengaluru] CIT Charge CCIT Region Alt Central Govt employees whose 5th …

                  Jurisdictions of Corporate assessees & their Managing Director/Directors/Managers/Secretary’s in Bengaluru with effect from 15th November, 2014 S. No. Alphabet / other areas Ward[in Bengaluru] Circle[in Bengaluru] Range[in Bengaluru] CIT Charge CCIT Region 1 “AA” TO “AL” ITO, WARD-1(1)(1) CIRCLE-1(1)(1) RANGE-l(l) pr. …

I have written many articles on scrutiny assessment by Income tax department. This year I had the opportunity of appearing for scrutiny assessment of salaried employees who had worked for 8 months in India and re-located to USA on employment during the Financial Year 2012-13. These employees, by virtue of …

The Finance Minister in his Budget Speech, 2015 indicated that the rate of corporate tax will be reduced from 30% to 25% over the next four years along with corresponding phasing out of exemptions and deductions. This is a step towards simplification of tax laws, which is expected to bring …

Q.1 What is Swachh Bharat Cess (SBC)? Ans. It is a Cess which shall be levied and collected in accordance with the provisions of Chapter VI of the Finance Act, 2015, called Swachh Bharat Cess, as service tax on all the taxable services at the rate of 0.5% of the …

The expression “transfer pricing” generally refers to prices of transactions between two enterprises for supply of goods or services. Transfer prices between related/ associated enterprises are generally more controlled than being determined by market forces. When such associated enterprises belong to different countries, the tax revenues of the countries are …

Service tax rate goes up from 14% to 14.5% w.e.f 15th Nov 2015 vide notification 22/2015 ST dated 6-11-2015. The government has decided to impose, a Swachh Bharat Cess at the rate of 0.5 per cent on all services, which are presently liable to service tax. The additional cess would be over …