Black Money(Undisclosed Foreign Income and Assets) and Imposition of Tax Act (Removal of Difficulties) Order, 2015 — Now it shall come into force from the 1st day of July, 2015. — 56/2015 — Dated 1–7‑2015 — Income Tax S.O.1790(E)- Whereas…
Category: Income Tax
last dates for making a declaration in respect of an undisclosed asset located outside India and to pay the tax and penalty are 30-09-2015 & 31-12-2015
CG notified 30-09-2015 & 31-12-2015 as the dates for make a declaration in respect of an undisclosed asset located outside India and to pay the tax and penalty in respect of the undisclosed asset located outside India so declared, respectively.…
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 prepared by CBDT with the approval of the Central Government. — 58/2015 — Dated 2–7‑2015 — Income Tax G.S.R. 529 (E).- In exercise of the powers conferred…
Authorised Entities who can issue tax-free, secured, redeemable, non-convertible bonds during the F/Y 2015–16
Authorised entities under Section 10(15)(iv)(h) of the Income Tax Act, 1961 — To issue tax-free, secured, redeemable, non-convertible bonds during the f.y. 2015–16. — 59/2015 — Dated 6–7‑2015 — Income Tax Share on: whatsapp
Government to modify new income tax return forms
Government has decided to “modify” the new Income Tax Return (ITR) forms in wake of concerns raised over them. The Income Tax department had notified new income tax return forms on April 15. Share on: whatsapp
Clarification regarding Explanation 5 to clause (i) of sub-section (l) of section 9 of Income-tax Act, l96l
Section 9 of the Income-tax Act provides for incomes which are deemed to accrue or arise in India. Clause (i) ofsub-section (1) of the said section reads as under:- “9. (1) The following incomes shall be deemed to accrue or arise…
Income Tax Rates of Individuals for Financial Year 2015–16 & AY 2016–17
Individual Tax Rates Male/ Female Slabs Tax Rates (Male) Tax Rates (Females) Taxable Income upto 2,50,000 Nil Nil Rs. 2,50,000 to 5,00,000 10% 10% Rs. 5,00,000 to Rs. 10,00,000 20% 20% Above Rs. 10,00,000 30% 30% Senior Citizen Slabs Tax Rates…
Brief Features of Black Money Bill
the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 has been introduced in the Parliament on 20.03.2015. The Bill provides for separate taxation of any undisclosed income in relation to foreign income and assets. Such income will henceforth not be…
Pending Income tax Refunds may got postponed to next year
Processing, determination, issuance and encashment of income-tax refund claims is a continuous process and therefore a part of the outstanding refunds would in the normal course also get postponed to next year, Minister of State for Finance Jayant Sinha said. Share…
TDS to be deducted from Transporter U/s 194C- Applicable from 1st June, 2015
It is Proposed in Finance Budget 2015 that Under the existing provisions of section 194C of the Act payment to contractors is subject to tax deduction at source (TDS) at the rate of 1% in case the payee is an individual…