Circular No. :21/2016 F.NO.197/17/2016-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 27th May, 2016 Subject – Clarification regarding cancellation of registration uis I2AA of the Income-tax Act, 1961 in certain circumstances – regarding Sections 11 and 12 of the income-tax Act, 1961 CActl exempt income … Read more
Circular No. 12/2016 F.No.279/Misc./140/2015-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, Dated 30th May, 2016 Subject: – Admissibility of claim of deduction of Bad Debt under section 36(1) (vii) read with section 36(2) of the Income-Tax Act, 1961— reg. Proposals have been received by the … Read more
F.No. DGIT(S)/CPC(TDS)/DCIT/15GH /2016-17/4539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 9/2016 New Delhi, 9th June, 2016 Subject: Simplification of procedure for Form No.15G & 15H — Clarifications -reg The existing provisions of section 197A of the Income-tax Act, 1961(‘the Act’) inter alia provide … Read more
Circular No 22/ 2016 F.No 370142/17/2016—TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated 8th,June 2016 Sub: Amendment in Section 206C vide Finance Act 2016 – Clarifications regarding Section 206C of the Income-tax Act, 1961 (hereafter referred to as ‘Ace), prior to amendment by Finance … Read more
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 25th May, 2016 Sub: Extension of Scheme for E-assessment -reg. Paperless assessment/ e-mail based assessment on a pilot basis was commenced in the financial year 2015-16 in non-corporate charges of five cities i.e. Ahmedabad, Bangalore, … Read more
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* PRESS RELEASE New Delhi, Dated 23rd May, 2016 Subject: Manner of determination of fair market value and reporting requirement for Indian concern-Indirect transfer provisions-section 9(1) of the Income-tax Act, 1961-reg. Under section 9 of the Income-tax Act, 1961 (the Act), … Read more
Circular No. 16 of 2016 F.No.370142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated: 20th May, 2016 EXPLANATORY NOTES ON PROVISIONS OF THE INCOME DECLARATION SCHEME, 2016 AS PROVIDED IN CHAPTER IX OF THE FINANCE ACT, 2016 Introduction The Income Declaration Scheme, 2016 (referred … Read more
Circular No.17 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated 20th of May, 2016 Clarifications on the Income Declaration Scheme, 2016 The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter IX of the Finance Act, 2016 … Read more
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 14 th May, 2016 Subject: The Income Declaration Scheme 2016 to open from 1st June 2016. The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons … Read more
Circular No. 13/2016 Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, Dated the 9th of May, 2016 Subject: – Verification of tax-returns for Assessment Years 2009-2010, 2010-2011, 2011-2012 2012-2013, 2013-2014 and 2014-2015 through EVC which are pending due to non-filing of ITR-V Form and processing of such returns—regd.- Under … Read more