Category Archives: Income Tax

Clarification Regarding Taxation of ‘Alternate Investment Funds’ having status of non-charitable trusts under the Income-Tax Act, 1961

Posted on August 8, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) vide its Circular No. 13/2014 dated 28th July, 2014 clarified the following: The SEBI (Alternative Investment Funds) Regulations, 2012 (‘AIF Regulations’) vide Regulation No. 4 … Continue reading →

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Income-tax (7th Amendment) Rules, 2014 (Substitution of Form Nos 3CA, 3CB and 3CD)

Posted on August 8, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue [Central Board of Direct Taxes] vide its notification no. 33/2014-IT dated 25th July 2014, under section 295 read with section 44AB of the Income-tax Act, 1961 (43 of 1961), hereby … Continue reading →

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Wealth‐tax (1st Amendment) Rules, 2014 (Inclusion of Form No BB)

Posted on July 7, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue [Central Board of Direct Taxes] vide its notification no. 32/2014-IT dated 23rd June 2014 hereby makes the following rules further to amend the Wealth‐tax Rules, 1957, under clause (ba) and … Continue reading →

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Amendment in Notification no. S.O. 709 (E) dated 20th August 1998, regarding Cost Inflation Index

Posted on June 21, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue [Central Board of Direct Taxes] vide its notification no. 31/2014-IT dated 11th June 2014 hereby makes the following amendment in the notification of the Government of India in the Ministry … Continue reading →

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Notification of “Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, as to be a place of public worship u/s 80G of the Income-tax Act, 1961

Posted on June 20, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue [Central Board of Direct Taxes] vide its notification no. 29/2014-IT dated 03rd June 2014 hereby notifies “Sivasuriyaperuman Temple, Suriyanarkoil, Thriuvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of … Continue reading →

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Income Tax (6th Amendment) Rule 2014. Substitution of Form ITR3, ITR4, ITR5, ITR6 and ITR7

Posted on June 19, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue [Central Board of Direct Taxes] vide its notification no. 28/2014-IT dated 30th May 2014 under section 295 of the Income-tax Act, 1961 (43 of 1961), hereby makes the following rules … Continue reading →

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Notification of M/s Temad, Iran for the sale of Codeine Phosphate under clause 48 of Section 10 of Income Tax Act 1961

Posted on June 13, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes vide its notification no. 27/2014 dated 23rd May 2014 under clause (48) of section 10 of the Income-tax Act, 1961 (43 of 1961), hereby notifies … Continue reading →

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Income –tax (5th Amendment) Rules, 2014, Substitution of Form No 49A and 49AA

Posted on June 7, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes vide its notification no. 26/2014 dated 16th May 2014 under section 295 of the Income-tax Act, 1961 (43 of 1961), hereby makes the following rules … Continue reading →

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Clarification Regarding Treatment of Expenditure Incurred for Development of Roads / Highways in BOT Agreements under Income-Tax Act, 1961

Posted on April 30, 2014 by neeraj prasad

  Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) vide its Circular No. 09/2014 dated23rd April, 2014 clarified the following: It has come to the notice of the Board that disputes have arisen as … Continue reading →

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Income Tax Department to set up New Data Centre to check Tax Evasion Clarification

Posted on April 26, 2014 by neeraj prasad

  To fasten the process of identifying tax evaders, the Income Tax department has decided to set up a major data centre of such classified information on the lines of the existing two such centres on e-filing and TDS information. … Continue reading →

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