Circular explaining law relating satisfaction note under section 158BD/153C

The CBDT has circular in which CBDT has explained the law relating to recording of satisfaction note by the Assessing Officer.

Copy of circular is appended below:-

Validate certificate under section-197

It is very common that deductor get certificate for lower deduction of TDS from the deductee. On the basis of such certificate, lower TDS is deducted and while filing TDS return, deductor mention the certificate number in return however demand of short deduction arises due to wrong quoting of 197 certificate number.

It happens because when the deductor accepts from deductee a manually issued lower deduction certificate by assessing officer & quotes the same in TDS statements. To resolve the issue CPC(TDS) has provided the facility of validating the 197 certificate to the deductors and that if the 197 certificate is not valid as per TRACES validation, the deductor should always insist upon an ITD system generated certificate having a unique 10 digit alpha numeric number. The entire procedure for this is explained in the advisory letter issued by CBDT.

Electronic filing of first appeal before CIT(Appeals)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

PRESS RELEASE

New Delhi, 30th December, 2015

Subject: Electronic filing of first appeal before CIT(Appeals) – reg.

It is the endeavour of the Income tax Department to digitise various functions of the

Summary of the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 (GST)

The Constitution (One Hundred and Twenty- Second Amendment) Bill, 2014 was introduced in the

Lok Sabha on December 19, 2014 which seeks to amend the Constitution to introduce the goods and 

services tax (GST). Consequently, the GST subsumes various central indirect taxes including the 

Central Excise Duty, Countervailing Duty, Service Tax, etc. It also subsumes state value added tax, 

octroi and entry tax, luxury tax, etc.

Accounting code for payment of Swachh Bharat Cess

Swachh Bharat Cess is leviable on all taxable services, other than services which are fully exempt from Service Tax or services which are otherwise not liable to Service Tax under section 66B of the Finance Act, 1994, at the rate of 0.5% [notification No.22/2015-ST, dated 6^th November, 2015 refers].

Accordingly, accounting codes have also been allotted by the Office of the Controller General of Accounts for the new Minor Head “506-Swachh Bharat Cess” and new Sub-heads as under:

Swachh Bharat Cess on Taxable Services w.e.f. 15-11-2015

Central Boar of Excise & Custom i.e. CBEC on the eve of Deepawali (i.e. on 6^th November)  notified that Swachh Bharat Cess would be applicable @ 0.5% on value of all taxable services and same shall be effective from  15^th November 2015.

Swachh Bharat Cess on services where Abatement is Available:-

What Proof can be given for Date of Birth while applying PAN Card

Following documents can submitted in support of 'date of birth' if these documents contain name, date, month and year of birth of the PAN applicant :-

(a) birth certificate issued by the municipal authority or any office authorized to issue birth and death certificate by the Registrar of Birth and Deaths or the Indian Consulate as defined in clause (d) of subsection (1) of section 2 of the Citizenship Act, 1955 (57 of 1955);  or

Filing of reconciliation return for the year 2013-14 under Delhi VAT

The last date of filing of online return in Form 9 for the year 2014-15, prescribed under Rule 4 of Central Sales Tax (Delhi) Rules, 2005 has been extended to 15 DEC 2015  

Who is required to file it:-

Compliance window under Black Money Act - An insight into

Compliance window under Black Money Act - An insight into

The Hon'ble Finance Minister in his budget speech for 2015-16 had proposed introduction of Black Money Bill in the Parliament. The Bill was passed by the Parliament in its budget session. The Bill received the assent of the President on May 26, 2015 and it became the law. It is to be called as "The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015" ("the Black Money Act"). It has been clarified by the Government that such Black Money Act would be applicable from July 1, 2015.

How to come clean under Compliance window Make declaration of foreign asset or income on or before Sept 30, 2015. Person making declaration has to pay penalty and taxes on or before Dec 31, 2015.

No Interfere by Hon'ble H.C in extension of due date

a) The petitioner claims to be entitled to extension of due date of filing income-tax return (‘ITR’) (i.e., September 30, 2015) due to the delay on the part of the respondents in prescribing the ITR forms.

b) It was contended that the said forms were prescribed only vide Notification dated 29th July, 2015 and were made available only with effect from August 7, 2015. The argument of the counsel for the petitioner was that since the Assessment Year 2015-2016 commenced on 1st April, 2015 and the due date for filing the return is 30th September, 2015, so 180 days are to be made available to the assessee to file the return.

The Delhi High Court held as under: