Daily Archives: June 5, 2016

Section 40A(3)- Disallowance of cash payments

By | June 5, 2016

Section 40A(3) of Income- Tax Act 1961 (India) Budget 2017 updates – Amendment in Section 40A(3) : As per Finance Act 2017  w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19) reduced threshold of cash payment to a person from twenty thousand rupees to ten thousand rupees in a single day; i.e any payment in cash above… Read More »

Equalisation levy Meaning

By | June 5, 2016

Equalisation levy Meaning Equalisation levy  shall be charged on any specified service received or receivable by a person. “specified service” means online advertisement, any provision for digital advertising space or any other facility or service for the purpose of online advertisement and includes any other service as may be notified by the Central Government in this… Read More »

Steps to file Income tax return online

By | June 5, 2016

Steps to file Income tax return online Step-1 : Register With Income Tax Department to file Income tax return online To file Income tax return or to View your tax credit statement in Form 26AS  you need to register yourself on the Income tax website https://incometaxindiaefiling.gov.in/ Step 2: Open the Income Tax portal to file Income tax… Read More »

Tiger Express train launched on World Environment Day

By | June 5, 2016

Suresh Prabhu launches Tiger Express train on the World Environment Day In terms of Budget Announcement 2016-17, Minister of Railways Shri Suresh Prabhakar Prabhu today flagged off the inaugural run of the Tiger Trail Circuit Train from Delhi Safdarjung Station. Shri Suresh Prabhu who was on tour to Mumbai, flagged off this train through video conferencing… Read More »

Agencies Authorized to issue Certificate of Origin

By | June 5, 2016

Enlistment under Appendix 2E – Agencies Authorized to issue Certificate of Origin – (Non-Preferential)-reg. GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 16/2015-2020 NEW DELHI: DATED THE 03rd JUNE, 2016 Subject: Enlistment under Appendix 2E – Agencies Authorized to issue Certificate of Origin –… Read More »

Why to file income tax return when No taxable income

By | June 5, 2016

 Reasons to file Income Tax Return Whether income tax return should be filed or not depends on your income level. When total income is within the minimum exemption limit, it’s not compulsory to file income tax return. The minimum exemption limit is Rs 2.5 lakh if you are less than 60 years old. For those who between 60… Read More »

NOC procedure simplified by Chandigarh adminstration

By | June 5, 2016

NOC procedure In a decision which will provide relief to residents, the Finance Department of the UT Administration has simplified the procedure for the issuance of a no-objection certificate (NOC) in all transfer cases of leasehold property. Sources said while issuing directions to the Estate Office, Finance Secretary Sarvjit Singh had made it clear that… Read More »