Income Tax

Analysis on latest Notifications,Circulars and news on Income Tax.

Monday, 9 May 2016

Posted by tldc at 21:01:00

Income Computation and Disclosure Standards (ICDS) (Section 145(2)), applicable from 1st April, 2016.

The CBDT notified 10 Income Computation and Disclosure Standards (ICDS) by notification number SO 892 (E) dated 31 st March, 2015. As...
No audit of turnover up to rupees 2 crore applicable only on assessee opt presumptive taxation.

It is obligatory for every person carrying on business to get his account of any previous year audited if his total sales, turnover ...
Foreign Tax credit (Income tax rule 128), Income Tax(18th Amendment) Rules, 2016, Notification No. 54/2016, Dated 27th June 2016.

Income Tax (18 th amendment) Rules, 2016 The Rule shall come into force from 1 st April 2017. The Rule 128 shall be inserted aft...
Non –Resident (not being a company or a foreign company) not having PAN Number – relaxation from deduction of TDS at higher rate 20% in case of specified payments and if provide specified documents and details (Income Tax (17th Amendment) Rules, 2016 (Notification No. 53/2016, Dated 24th June 2016)).

New rule 37BC inserted regarding relaxation from a deduction of Tax Dedeucted at Source (TDS) at a higher rate of 20% where PAN ...

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