Income Tax Direct-tax related measures announced by the Finance Minister 14 May 2020 The Finance Minister, Smt. Niramla Sitharaman yesterday announced measures focused on Getting back to work i.e., enabling employees and employers, businesses, especially Micro Small and Medium Enterprises, to get back…
Income Tax Relaxation in issue of certificate for lower/nil deduction of TDS and TCS U/s 197 and 206(9) 31 Mar 202031 Mar 2020
Circulars… Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure 12 Sep 201912 Sep 2019 Circular 25/2019 Dated 09/09/2019 The Central Board of Direct Taxes (CBDT) has been issuing guidelines from time to time for compounding of offences under the Direct Tax Laws, prescribing the…
Income Tax… CBDT issues Clarification on applicability of Tax Deduction at Source on cash withdrawals (Section 194N) 30 Aug 2019 In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019 has inserted a new section 194N in the Income-tax Act,1961 (the ‘Act’),…
Income Tax… CBDT issues notification for amendment of Form No. 15H of the Income-tax Rules, 1962 26 May 2019 Sub-section (1C) of section 197A of the Income-tax Act, 1961 (the Act) read with rule 29C of the Rules, inter alia, provides that no deduction of tax shall be made…
Income Tax… Procedure, format and standards for filing an application for grant of certificate for Lower deduction of Income-tax or no deduction of Income-tax under Section 197 (1) 26 Apr 2019 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi Notification No. 08/2018 New Delhi,31st December, 2018 Subject: - Procedure, format and standards…
Circulars INCOME – TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME – TAX ACT, 1961 (CIRCULAR NO 01 /2019) 4 Jan 2019 The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2018-19 and explains certain related provisions…
Notifications No TDS on Interest Income upto Rs. 50,000 in case of Senior Citizens -CBDT 10 Dec 2018 CBDT has clarified by issuing a notification no. 06/2018 dated 06 December 2018, that no tax deduction at source under Section 194A shall be made in the case of Senior…
Income Tax Deduction of tax at source from payment on transfer of certain immovable property 7 Dec 2018 1 Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by…
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