​Amendment in Section 206C of the Income-tax Act vide Finance Act 2016

CBDT came with circular on ​Amendment in Section 206C of the Income-tax Act vide Finance Act 2016 vide circular number Circular No. 23/2016. Detailed content of the circular is as given below: On 5 May, […]

5 Stock to Buy in 2017 which can be Multibaggers

Larsen & Toubro  Larsen & Toubro Ltd (LT) is from Large Cap and this stock can be good for investors who want to play safe but want to make most of the rally in Construction […]

Budget 2017 relaxes Provisions of Domestic Transfer Pricing

Currently, provisions of domestic transfer pricing are applicable to transactions between two domestic related parties even in situations where transactions between them are tax neutral from base erosion of Indian tax base point of view. […]

Cash Compliance 2016 | How to deal?

Appx 18 Lakhs of notices has been issued in last 2 days regarding Cash Compliance to those who have deposited old currency notes during demonetization period. We have already came with an article on how […]

How to Apply for Udyog Aadhaar : Procedure

After SSI abolition, now a days Udyog Aadhaar is widely accepted in compliance like opening current account, giving proof of registration of any entity and similar kind of work. Procedure to obtain Udyog Aadhaar is very easy […]

Budget 2017 came with Concessional rate of 10% for transfer of Pvt Company Shares

It is proposed to clarify that the amendment made by the Finance Act, 2016 in Section 112 of the Income-tax Act providing for concessional rate of tax in respect of transfer of share of a […]

Budget Changes on Authority for Advance Ruling (AAR)

It is proposed to merge the Authority for Advance Ruling (AAR) for Income-Tax with AAR for Customs, Central Excise and Service Tax; and create common AAR. It is also proposed to amend the qualifications for […]

Budget 2017 gave benefits for Investment in National Pension Scheme

In order to provide parity between an individual who is an employee and an individual who is self-employed, it is proposed to provide that the self-employed individual shall be eligible for deduction up to twenty […]

Budget 2017 expand Provisions of Section 133A

It is proposed to expand the provision of section 133A of the Income-tax Act so as to include any place at which activity for charitable purpose is carried on. Above mentioned provisions as given in […]

Explanation for Cash Deposit notice by Income tax | Cash Compliance 2016

Income Tax Department (ITD) intends to obtain explanation from the assessees who had deposited plenty of amount during period of demonetization (i.e. 9th November, 2016 to 31st December, 2016). Many of those has received SMS […]