Income Tax

Updated list of Transactions to be reported in AIR Government has recently demonetised bank notes of Rs. 500 & Rs. 1000/- to curb Black Money, which resulted in huge deposit of cash notes in Bank, wit...

Updated list of Transactions in which PAN is to be quoted Government has recently demonetised bank notes of Rs. 500 & Rs. 1000/- to curb Black Money, which resulted in huge deposit of cash notes in Ba...

Things to be Kept in Mind Demonetization has rocked the whole lot of people . Each one form lower to upper class is affected. In one word we can say India gets “Modified”.Most of the financial and tax...

F. No. 225/246/2014-ITA-11Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, dated 15 November, 2016OFFICE MEMORANDUMSubject: Reconstitution of Committe...

200% penalty cannot be imposed if tax is paid on unaccounted cash in current yearHon’ble Prime Minister, Sh. Narendra Modi on November 8, 2016 made one of his boldest move by launching an aggressive a...

Government Press Release, dated 16-5-2012ForewordIn the past year the public discourse on the issue of corruption and black money has come in the forefront with the active participation of the civil s...

Demonetisations of Rs. 500 & 100 Notes – Consequence & Duties Demonetisations of the Higher Denomination Notes by Government of India – synopsis, consequence and duties Introduced on the evening of 8t...

All about replacement of old notes & Income Tax Provisions Guidelines for replacement of existing Rs 500 and Rs 1000 notes with new notes and to understand the procedure of scheme and relevant provisi...

Myth and Truth A day after IMANDAARI KA UTSAV, A day after PRAMANIKTA KA PARV, A day after MAHAYAGNA, A day after demonetization scheme. Hopefully you all are observing and going through same atmosphe...

in Bank Account in IndiaThe ban of Rs.500/1000 note in India is creating havoc in the Indian markets. Everybody is either rushing towards banks or towards jeweler market to safeguard the black money.I...

Dear Professional Colleague,Subject: Committee on ITR Forms – Soliciting views for submission of suggestionsThe CBDT has constituted a Committee to look into the complexities involved in the existing...

Press Information BureauGovernment of IndiaMinistry of Finance10-November-2016FM: Process of Tax Reforms will continue and pending GST issues will be resolved soon.FM: No Harassment of Small Depositor...

Whether cash deposited in bank account could attract penalty under Income tax Act?On-a-days lot of messages are been circulated on social media that cash deposited in a bank may attract tax and penalt...

4 FAQs on Income Tax Aspects of old currency deposit in banks Press Information BureauGovernment of IndiaMinistry of Finance10-November-2016 10:28 IST Replies given by Revenue Secretary Dr. Hasmukh Ad...

Demonitization of Old Notes : Few Legal & Income Tax Aspects 1) In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, Rs 500 and 1000 denominations of Bank No...

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 103/2016New Delhi, the 7th November, 2016Income TaxS.O. 3399(E).-In exercise of the powers conferred by sectio...

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASENew Delhi, 9th November, 2016.Sub: Notification of Protocol amending the Double Taxation Amending C...

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASE New Delhi, 9th November, 2016.Sub: Direct Tax Collections up to October, 2016 show an increase of...

DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2, Jhandewalan Extension,New Delhi-110055Ph. No.: 0120-2770029 E-mail ID: adg2.systems@incometax.gov.inF.No. DGIT(S)/ADG(S)-2/CASS 2017-1...

Government of IndiaMINISTRY OF CORPORATE AFFAIRSNotificationNew Delhi, 7th, November, 2016G.S.R. ……(E).-In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with sub-section...