Tag Archives: CBDT

Section 44 ADA – Presumptive Tax Scheme for Professionals

Section 44 ADA - Presumptive Tax Scheme for Professionals

Section 44 ADA: Presumptive Tax Scheme for Professionals. Difference Between Section 44AD & 44ADA, Presumptive Income Computation System for Professionals. What is Presumptive Taxation Scheme under Section 44AD of Income Tax Act. Analysis of Section 44ADA of The Income Tax Act, 1961. Everything to know about Presumptive Taxation for Professionals. All About Section 44ADA. In this article we provide complete […]

Rebate under Section 87A reduced to Rs 2500 for AY 2018-19

CAknowledge.in Updates

Rebate under Section 87A reduced to Rs 2500 for AY 2018-19. Budget 2017 – Rebate reduced to Rs 2500 under Section 87A. Rationalization of rebate allowable under Section 87A. This amendment will take effect from 1st April, 2018. Union budget 2017 is presented by Arun Jaitley on 01-02-2017. As per New Finance bill 2017 Rebate under Section 87A reduced […]

Cash Transactions Reporting under Rule 114E of IT Rules, 1962

caknowledge news

Cash Transactions Reporting under Rule 114E of IT Rules, 1962. New Notification by Income Tax Department for Reporting Cash Transactions under Rule 114E of IT Rules, 1962. Check More details from below… Cash Transactions Reporting under Rule 114E of IT Rules, 1962 Rule 114E of Income-Tax Rules, 1962, for furnishing Statement of Financial Transactions (SFT) […]

Customers can now refuse to pay Service Charge at Restaurants

caknowledge news

Customers can now refuse to pay Service Charge at Restaurants. Payment of service charge in restaurant is voluntary. Latest news! The Consumer Affairs Ministry has recently announced that now a customer can refuse to pay Service Charge at a Restaurant if we are not happy with their services. Now check more details for “Customers can […]

Issue of taxability of surplus on sale of shares and securities – Circular No. 6

caknowledge news

Circular No. 6 of 2016: Issue of taxability of surplus on sale of shares and securities. The CBDT has accepted that inspite of its circular no. 4 of 2007 dated 15th June 2007 and instruction no. 1827 dated 31st August 1989 on the matter of characterization of income from sale of shares and securities, there remains difficulty […]

Roadmap to Minimize Litigation and Strengthen Litigation Management

caknowledge news

Roadmap to Minimize Litigation and Strengthen Litigation Management. Recently Income Tax Department Uploaded Most Important Reports on ” Minimize Litigation and Strengthen Litigation Management“. Name of Both Reports is… The Committee to Study the Appellate Orders to Examine the Filing of Appeals by the Income Tax Department before Various Forums – 2014 Comprehensive Roadmap to Minimize Litigation and […]

CBDT Takes Steps to discourage Cash transactions & curb Black Money

CAknowledge.in Updates

CBDT Takes Steps to discourage Cash transactions in India. Budget 2017 takes Steps to discourage Cash transactions & curb Black Money. Various legislative steps have been taken by the Finance Act, 2017 to curb black money by discouraging cash transaction and by promoting digital economy. बैंक-पोस्ट ऑफिस से कर सकेंगे 2 लाख से ज्यादा का […]

CBDT issues PAN & TAN within 1 day to improve Ease of Doing Business

CAknowledge.in Updates

CBDT issues PAN & TAN within 1 day to improve Ease of Doing Business. In order to improve the Ease of Doing Business for newly incorporated corporates, CBDT has tied up with Ministry of Corporate Affairs (MCA) to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in 1 day. CBDT issues PAN & […]

CBDT’s Operation Clean Money Reins in the Black Economy

CAknowledge.in Updates

CBDT’s Operation Clean Money Reins in the Black Economy. The Income Tax Department (ITD) launched “Operation Clean Money” (OCM) on 31st January 2017 to leverage technology for e-verification of cash deposits made during the demonetization period i.e. 9th November to 30th December 2016. It is a unique operation being conducted by the Income-tax Department (ITD) through […]

Cash Transaction Rules from 1st April 2017- Section 269ST FAQ’s

Cash Transaction

Section 269ST – Cash Transaction Rules from 1st April 2017, FAQ on Cash Receipt of Rs.2 Lakh or More w.e.f 01.04.2017 (Section 269ST).Cash withdrawal and transaction rules 2017. CBDT Takes Steps to discourage Cash transactions & curb Black Money. These prominently include placing restriction on cash transaction by introduction of new sections 269ST & 271DA to the Income-tax Act. In order […]