How to file Form V – PMGK Deposit Scheme 2016-User Manual

How to file Form V – PMGK Deposit Scheme 2016-User Manual

 Authorised banks are required to furnish electronically the details of deposits made under PMGK in Form V not later than next working day to enable the Department to verify the information of the deposit before accepting the declaration.

Explanatory Notes on PMGKY 2016 issued by CBDT

Explanatory Notes on PMGKY 2016 issued by CBDT

​How to deposit Self Assessment Tax ?

​How to deposit Self Assessment Tax ?

Compulsory Acquisition Taxability

Compulsory Acquisition Taxability

TDS on Professional or Technical service : Complete Guide

TDS on Professional or Technical service : Complete Guide

Book on New Income Computation & Disclosure Standards AY 2017-18

Book on New Income Computation & Disclosure Standards AY 2017-18

TCS -Tax Collected at Source -Complete Guide

TCS -Tax Collected at Source -Complete Guide

TDS on Property Sale -Complete Guide

TDS on Property Sale -Complete Guide

TDS on Rent -Complete Guide

TDS on Rent -Complete Guide

Computerized machines are not Computers, 60 % Depreciation not allowed

Computerized machines are not Computers, 60 % Depreciation not allowed

No deduction u/s 115JB if brought forward loss or unabsorbed depreciation becomes Nil

No deduction u/s 115JB if brought forward loss or unabsorbed depreciation becomes Nil

GST (India) Impact on Exports

GST (India) Impact on Exports

TCS-Section 206C – Complete Guide

TCS-Section 206C – Complete Guide

Revised ICDS Notified, Exemption to Individuals and HUF Not liable for Tax Audit

Revised ICDS Notified, Exemption to Individuals and HUF Not liable for Tax Audit

Tax Audit Form 3CD amended by CBDT for ICDS

Tax Audit Form 3CD amended by CBDT for ICDS

IDS 2016 : No PAN ?-File declaration with acknowledgment of PAN application form : CBDT

IDS 2016 : No PAN ?-File declaration with acknowledgment of PAN application form : CBDT

Basic Concepts of International Taxation -Book-2016

Basic Concepts of International Taxation -Book-2016

IDS 2016 -All Circulars/FAQ/Notifications issued by CBDT at one Place

IDS 2016 -All Circulars/FAQ/Notifications issued by CBDT at one Place

Transfer takes place when possession of land handed over to builder and not when sale deed is registered in case of joint development agreement

Transfer takes place when possession of land handed over to builder and not when sale deed is registered in case of joint development agreement

Income Tax Slab Rates for AY 2016-17 and AY 2017-18

Income Tax Slab Rates for AY 2016-17 and AY 2017-18

Foreign trip expenses of Doctors & their spouses by Pharma Co Disallowed

Foreign trip expenses of Doctors & their spouses by Pharma Co Disallowed

Tax Audit & Return filing due date extended to 17 Oct 2016 :CBDT Clarify

Tax Audit & Return filing due date extended to 17 Oct 2016 :CBDT Clarify

Special Public Prosecutors for Income Tax Deptt :Guidelines for Engagement

Special Public Prosecutors for Income Tax Deptt :Guidelines for Engagement

Expenses incurred on buy back of shares is capital expediture :ITAT

Expenses incurred on buy back of shares is capital expediture :ITAT

Cash deposits in Bank Pass Book can’t be treated as Unexplained u/s 68

Cash deposits in Bank Pass Book can’t be treated as Unexplained u/s 68

Exemption on maturity of life insurance policy allowed even if taken from foreign insurer

Exemption on maturity of life insurance policy allowed even if taken from foreign insurer

CBDT Clarifications on Direct Tax Dispute Resolution Scheme 2016

CBDT Clarifications on Direct Tax Dispute Resolution Scheme 2016

Book on TDS, Advance Tax and Refund 2016 Edition – Vinod K Singhania

Book on TDS, Advance Tax and Refund 2016 Edition – Vinod K Singhania

Guidelines for engagement of Income Tax Dept. Special Public Prosecutors

Guidelines for engagement of Income Tax Dept. Special Public Prosecutors

Guidelines for engagement of Income Tax Dept. Special Public Prosecutors

Guidelines for engagement of Income Tax Dept. Special Public Prosecutors

Revised Guidelines for engagement of Income-tax dept. Counsels

Revised Guidelines for engagement of Income-tax dept. Counsels

Due date of filing return extended to Oct. 17, 2016 to remove conflict with IDS due date

Due date of filing return extended to Oct. 17, 2016 to remove conflict with IDS due date

CBDT launches e-nivaran to resolve Income Tax Complaints

CBDT launches e-nivaran to resolve Income Tax Complaints

Book on Direct Taxes Law & Practice -Vinod K Singhania -2016-17

Book on Direct Taxes Law & Practice -Vinod K Singhania -2016-17

Trust letting out its auditorium for marriage functions not entitled to sec. 11 relief

Trust letting out its auditorium for marriage functions not entitled to sec. 11 relief

Capital Gains Accounts Scheme 1988

Capital Gains Accounts Scheme 1988

National Company Law Tribunal Rules 2016 notified

The Ministry of Corporate Affairs has issued notification for constitution of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) with effect from today i.e. 1st June, 2016. Hon’ble Justice S.J. Mukhopadhaya, Judge (Retd.), Supreme Court of India has joined as the Chairperson of the NCLAT and Hon’ble Justice M.M.Kumar, Judge (Retd.) has joined as the President of the NCLT. 

With the constitution of the NCLT, the Company Law Board constituted under the Companies Act, 1956 stands dissolved. 

Initially, NCLT will have eleven Benches, two at New Delhi and one each at Ahmedabad, Allahabad, Bengluru, Chandigarh, Chennai, Guwahati, Hyderabad,Kolkata and Mumbai.

Read National Company Law Tribunal Rules 2016 are notified on 21.07.2016

NATIONAL COMPANY LAW APPELLATE TRIBUNAL RULES, 2016

NOTIFICATION [F.NO.1/30/NCLAT/CL-V/2013]

DATED 21-7-2016

What is benami transaction ?

The Benami Transaction (Prohibition) Amendment Bill 2016

passed by Lok Sabha on 27.07.2016

What is  benami transaction ?

“benami transaction” means,—

(A) a transaction or an arrangement—

(a) where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another person; and

(b) the property is held for the immediate or future benefit, direct or indirect, of the person who has provided the consideration,

except when the property is held by—

(i) a Karta, or a member of a Hindu undivided family, as the case may be, and the property is held for his benefit or benefit of other members in the family and the consideration for such property has been provided or paid out of the known sources of income of the Hindu undivided family;

(ii) a person standing in a fiduciary capacity for the benefit of another person towards whom he stands in such capacity and includes a trustee, executor, partner, director of a company, a depository or a participant as an agent of a depository under the Depositories Act, 1996 and any other person as may be notified by the Central Government for this purpose;

(iii) any person being an individual in the name of his spouse or in the name of any child of such individual and the consideration for such property has been provided or paid out of the known sources of income of the individual;

(iv) any person in the name of his brother or sister or lineal ascendant or descendant, where the names of brother or sister or lineal ascendant or descendent and the individual appear as joint-owners in any document, and the consideration for such property has been provided or paid out of the known sources of income of the individual; or

(B) a transaction or an arrangement in respect of a property carried out or made in a fictitiousname; or

(C) a transaction or an arrangement in respect of a property where the owner of the property is not aware of, or, denies knowledge of, such ownership;

(D) a transaction or an arrangement in respect of a property where the person providing the consideration is not traceable or is fictitious;

Explanation : for the removal of doubts , it is hereby declared that benami transaction shall not include any transaction involving the allowing of possession of any property to be taken or retained in part performance of a contract referred to in Section 53A of transfer of Property Act 1882, if, under any law for the time being in force-

i) Consideration for such property has been provided  by the person to whom the possession of the property has been allowed but the person who has granted possession thereof continues to hold ownership of such property ;

ii) Stamp duty on such transaction or arrangements has been paid; and

iii) The contract has been registered

Read More Key takeaways from The Benami Transaction (Prohibition) Amendment Bill 2016 

ICDS deferred by Govt , Now to apply from AY 2017-18

ICDS deferred by Govt , Now to apply from AY 2017-18

Loopholes of Income Declaration Scheme 2016

Loopholes of Income Declaration Scheme 2016

TCS on Cash Sale , CBDT issued 2nd Circular for Clarification

TCS on Cash Sale , CBDT issued 2nd Circular for Clarification

Leave Encashment Tax Treatment

Leave Encashment Tax Treatment

FATCA and CRS Guidance Note by CBDT

FATCA and CRS Guidance Note by CBDT

FATCA and CRS Guidance Note by CBDT

FATCA and CRS Guidance Note by CBDT

Have you checked your TDS Certificate ?

Have you checked your TDS Certificate ?

Income Tax Dept. targets to dispose of 1.33 lakh appeals

Income Tax Dept. targets to dispose of 1.33 lakh appeals

No unfettered powers to CIT to revise every order u/s 263 as per new Explanation 2

No unfettered powers to CIT to revise every order u/s 263 as per new Explanation 2

I-T department to block PAN, LPG subsidy of tax defaulters

I-T department to block PAN, LPG subsidy of tax defaulters

HUF cannot be partner but its karta or any individual of HUF can be partner in a partnership firm

HUF cannot be partner but its karta or any individual of HUF can be partner in a partnership firm

TDS on payment to dealer for servicing of customers vehicle as per Service Coupons u/s 194C

TDS on payment to dealer for servicing of customers vehicle as per Service Coupons u/s 194C

Key features of Special Package for Textile & Apparel Sector

Key features of Special Package for Textile & Apparel Sector

No TDS on 7 Types of Payment to Banks : CBDT

No TDS on 7 Types of Payment to Banks : CBDT

Avoid Silly Mistakes in Filing Income Tax Return

Avoid Silly Mistakes in Filing Income Tax Return

START UP -No tax on issuing share above market value

START UP -No tax on issuing share above market value

PPF Withdrawal allowed after 5 years for Medical /Education Purpose

PPF Withdrawal allowed after 5 years for Medical /Education Purpose

Tax Audit limit of Rs 2 Crore apply only to presumptive taxation scheme

Tax Audit limit of Rs 2 Crore apply only to presumptive taxation scheme

TCS Rate Chart w.e.f 01.06.2016

TCS Rate Chart w.e.f 01.06.2016

Speedy disbursal of pending refund claims of exporters of services

Speedy disbursal of pending refund claims of exporters of services

Speedy disbursal of pending refund claims of exporters of services

Speedy disbursal of pending refund claims of exporters of services

Taxpayer not required to have Separate Books of Accounts as per ICDS

Taxpayer not required to have Separate Books of Accounts as per ICDS

If ICDS not followed in preparing return ,AO may do Best judgment assessment

If ICDS not followed in preparing return ,AO may do Best judgment assessment

Can I shift from Online Return to Offline Return of Income Tax ?

Can I shift from Online Return to Offline Return of Income Tax ?

Tax Rebate under section 87A of Income Tax Act

Tax Rebate under section 87A of Income Tax Act

Effect of ICDS on Income Tax Return from AY 2016-17

Effect of ICDS on Income Tax Return from AY 2016-17

Income Tax Depreciation Rates Chart

Income Tax Depreciation Rates Chart

FORM NO 3CD -Tax Audit Format

FORM NO 3CD -Tax Audit Format

No rejection of registration application u/s 12AA because ITR not filed

No rejection of registration application u/s 12AA because ITR not filed

No TDS on reimbursement of bank guarantee commission u/s 194A

No TDS on reimbursement of bank guarantee commission u/s 194A

TCS on sale of Cars

TCS on sale of Cars

Tax benefits of Life Insurance Policy

Tax benefits of Life Insurance Policy

Tax benefit of medical / training expenses of person with disability

Tax benefit of medical / training expenses of person with disability

No TDS on transaction charges payment to Stock Exchange u/s 194J

No TDS on transaction charges payment to Stock Exchange u/s 194J

Tax benefit of expenses on medical treatment of specified diseases

Tax benefit of expenses on medical treatment of specified diseases

Due date of quarterly uploading of Form 15G /H declaration by payers

Due date of quarterly uploading of Form 15G /H declaration by payers

Income Tax benefits for Senior Citizen

Income Tax benefits for Senior Citizen

Providing essential commodities at subsidized rates is Charitable activity u/s 2(15)

Providing essential commodities at subsidized rates is Charitable activity u/s 2(15)

Rectification of ITR (Income Tax Return) : FAQ’s

Rectification of ITR (Income Tax Return) : FAQ’s

Form 1 efiling steps -Income declaration scheme 2016

Form 1 efiling steps -Income declaration scheme 2016

Income Tax Notice for non filing of Return ? Process

Income Tax Notice for non filing of Return ? Process

Bank ATMs eligible for 60% Depreciation

Bank ATMs eligible for 60% Depreciation

Derivatives Loss is not Speculative Loss u/s 73

Derivatives Loss is not Speculative Loss u/s 73

TCS on sale of Motor Vehicle : CBDT clarify via FAQ

TCS on sale of Motor Vehicle : CBDT clarify via FAQ

Notional interest on Security deposit is not to be included in perquisite value of the accommodation

Notional interest on Security deposit is not to be included in perquisite value of the accommodation

Donation by charitable trust to another charitable trust allowed as application of income

Donation by charitable trust to another charitable trust allowed as application of income

Donation by charitable trust to another charitable trust allowed as application of income

Donation by charitable trust to another charitable trust allowed as application of income

Pay Advance Tax Timely

Pay Advance Tax Timely

How many Previous years Income tax return can be filed after due date

How many Previous years Income tax return can be filed after due date

Foreign travel expenses and Income tax return

Foreign travel expenses and Income tax return

Due date of filing Income tax Return AY 2016-17 (FY 2015-16)

Due date of filing Income tax Return AY 2016-17 (FY 2015-16)

CII (Cost Inflation Index) for FY 2016-17 notified by CBDT

CII (Cost Inflation Index) for FY 2016-17 notified by CBDT

Delay in filing income tax return could be costly

Delay in filing income tax return could be costly

Coaching classes Income of ICAI is exempt u/s 2(15)

Coaching classes Income of ICAI is exempt u/s 2(15)

Section 14A disallowance can’t exceed total expenses : CBDT

Section 14A disallowance can’t exceed total expenses : CBDT

Tax on maturity of Insurance Policy

Tax on maturity of Insurance Policy

Indemnity Bond format in case of outstanding tax demand

Indemnity Bond format in case of outstanding tax demand

Rectification requests of e fled Income Tax Return

Rectification requests of e fled Income Tax Return

Section 40A (3) of Income-tax Act 1961 :disallowance of cash payments

Section 40A (3) of Income-tax Act 1961 :disallowance of cash payments

Steps to file Income tax return online

Steps to file Income tax return online

Allottee Right under Real Estate Act 2016

Allottee Right under Real Estate Act 2016

SBI ATM to e verify income tax return by EVC

SBI ATM to e verify income tax return by EVC

carbon credit sale is capital receipt hence not taxable

carbon credit sale is capital receipt hence not taxable

Why to file income tax return when No taxable income

Why to file income tax return when No taxable income

Rate of TCS on Cash sales if Buyer PAN not available

Rate of TCS on Cash sales if Buyer PAN not available

Advance Tax date for all : pay 15% by 15th june – Ist installment

Advance Tax date for all : pay 15% by 15th june – Ist installment

HUF Service tax Payment Date :Now Quarterly payment

HUF Service tax Payment Date :Now Quarterly payment

TCS on Cash Sales w.e.f 01.06.2016

TCS on Cash Sales w.e.f 01.06.2016

TCS on Cash Transactions by Finance Act 2016

TCS on Cash Transactions by Finance Act 2016

Key Tax amendments from 01.06.2016

Key Tax amendments from 01.06.2016

Equalisation levy Salient Features

Equalisation levy Salient Features

Stay of demand : CBDT Guidelines

Stay of demand : CBDT Guidelines

Income Declaration Scheme 2016 analysis

Income Declaration Scheme 2016 analysis

TCS on cash sale of goods or services > Rs 2 Lakh wef 1.6.16

TCS on cash sale of goods or services > Rs 2 Lakh wef 1.6.16

Income Declaration Scheme Rules 2016

Income Declaration Scheme Rules 2016

TCS on Sale of motor Vehicle above Rs 10 Lakh w.e.f 01.06.2016

TCS on Sale of motor Vehicle above Rs 10 Lakh w.e.f 01.06.2016

Download Form 16 for TDS on salary

Download Form 16 for TDS on salary

Reset Password on incometaxindiaefiling.gov.in : steps

Reset Password on incometaxindiaefiling.gov.in : steps

Legal Heir Registration for e-Filing of Income tax Return

Legal Heir Registration for e-Filing of Income tax Return

e-Verify Income tax Returns -steps

e-Verify Income tax Returns -steps

Rectification Request for Income Tax Return

Rectification Request for Income Tax Return

TDS Statement : Govt revised time to file

TDS Statement : Govt revised time to file

TDS on Property , Govt revised timeline to Deposit

TDS on Property , Govt revised timeline to Deposit

TDS Statement Upload Online -Procedure

TDS Statement Upload Online -Procedure

Real Estate Act comes into force w.e.f 01.05.2016

Real Estate Act comes into force w.e.f 01.05.2016

Interest on refund of excess TDS Depoisted u/s 195 can’t be denied : CBDT

Interest on refund of excess TDS Depoisted u/s 195 can’t be denied : CBDT

Draft assessment order mandatory in case of foreign company : High Court

Draft assessment order mandatory in case of foreign company : High Court

Draft assessment order mandatory in case of foreign company : High Court

Draft assessment order mandatory in case of foreign company : High Court

Hotel Tips collected from Cusotmer and Paid to employee not taxable as salary

Hotel Tips collected from Cusotmer and Paid to employee not taxable as salary

CBDT Defined : taxpayer ,tax-base , stop-filer ,non-filer

CBDT Defined : taxpayer ,tax-base , stop-filer ,non-filer

All about EQUALISATION LEVY on online advertisement

All about EQUALISATION LEVY on online advertisement

Sum paid for internet connection not liable for TDS under section 194J

Sum paid for internet connection not liable for TDS under section 194J

Excise Duty Concession Certificate for Vehicle Purchase to Disabled

Excise Duty Concession Certificate for Vehicle Purchase to Disabled

15CA / 15CB Filing Rules W.e.f 01.4.2016

15CA / 15CB Filing Rules W.e.f 01.4.2016

Why mismatch in Income tax return ?

Why mismatch in Income tax return ?

How to submit response to mismatch notice from Taxman ?

How to submit response to mismatch notice from Taxman ?

How to e-File Statement of Form 15G / 15H

How to e-File Statement of Form 15G / 15H

ITR V (Income Tax Return Acknowledgement) Do’s & Don’t

ITR V (Income Tax Return Acknowledgement) Do’s & Don’t

How to Upload & View Form 61, Form 61B & Form 15CC

How to Upload & View Form 61, Form 61B & Form 15CC

Be aware of using online tax return filing portals

Be aware of using online tax return filing portals

TDS on Purchase of Property : FAQ’s

TDS on Purchase of Property : FAQ’s

Foreign Tax Credit , Draft Rules of CBDT

Foreign Tax Credit , Draft Rules of CBDT

Alimony received from Husband on Divorce Not taxable

Alimony received from Husband on Divorce Not taxable

Be Income Tax Informants and Earn Reward

Be Income Tax Informants and Earn Reward

TCS Penalty as per Income tax Act

TCS Penalty as per Income tax Act

No TDS on Service Tax Component of Rent

No TDS on Service Tax Component of Rent

72 ways to Tackle Black Money in India

72 ways to Tackle Black Money in India

Rental income from guest houses taxable under Business head

Rental income from guest houses taxable under Business head

Consequences of non filing of Income tax return

Consequences of non filing of Income tax return

What Banks sees in Income Tax Return before giving Loan

What Banks sees in Income Tax Return before giving Loan

Cost of acquisition in case of inherited property

Cost of acquisition in case of inherited property

CBEC guidelines to quasi judicial authorities

CBEC guidelines to quasi judicial authorities

Assessment u/s 143(1), Reason to believe must for reassessment

Assessment u/s 143(1), Reason to believe must for reassessment

Steps to upload Form 15CA

Steps to upload Form 15CA

E-filing Vault for higher security of Your Income Tax Account

E-filing Vault for higher security of Your Income Tax Account