Daily Archives: June 5, 2016

Section 40A(3)- Disallowance of cash payments

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

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

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

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 »

Allottee Right under Real Estate Act 2016

Allottee right under Real Estate Act 2016 Allottee meaning under Real Estate Act 2016 : [section 2(d)] “allottee” in relation to a real estate project, means the person to whom a plot, apartment or building, as the case may be, has been allotted, sold (whether as freehold or leasehold) or otherwise transferred by the promoter,… Read More »

SBI ATM to e verify income tax return by EVC

Now Electronic Verification Code (EVC) can be generated through ATM. State Bank of India is the first bank to launch this facility which will facilitate its customers, who may not have a net-banking account, to e-verify their return. Other banks are expected to launch this facility. R elated Post Guide on how to file Income Tax… Read More »

Agencies Authorized to issue Certificate of Origin

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 »

NOC procedure simplified by Chandigarh adminstration

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 »