Daily Archives: December 2, 2017

Section 24 Income Tax Act 1961 : Deductions from income from house property

By | December 2, 2017

Section  24 Income Tax Act, 1961 As amended by Finance Act, 2017 [ Section 24 Income Tax Act 1961 explains Deductions from income from house property ] 28[ Deductions from income from house property. 24. Income chargeable under the head “Income from house property” shall be computed after making the following deductions, namely:— (a) a sum equal to… Read More »

Book Guide to Insolvency and Bankruptcy Code 2016 : Nov 2017 : Taxmann

By | December 2, 2017

Guide to Insolvency and Bankruptcy Code 2016 (2018 Edition) – Nov.2017 As amended by Insolvency and Bankruptcy Code (Amendment) Ordinance 2017 Description Also Incorporating: Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations,2016 Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations,2016 Insolvency and Bankruptcy Board of India… Read More »

Section 17 Income Tax Act 1961 : Salary, perquisite and profits in lieu of salary

By | December 2, 2017

Section 17 Income Tax Act 1961 (Amended by Finance Act 2017) [ Section 17 Income Tax Act 1961 explains Salary, perquisite and profits in lieu of salary ] “Salary”, “perquisite” and “profits in lieu of salary” defined. 69 17. For the purposes of sections 15 and 16 and of this section,— (1) “salary” includes— (i) wages; (ii) any annuity or pension; (iii)… Read More »

FORM 10E Income Tax : claiming relief under section 89(1)

By | December 2, 2017

FORM NO 10E [See rule 21AA of Income Tax Rules ] Form for furnishing particulars of income under section 192(2A) for the year ending 31st March, for claiming relief under section 89(1) by a Government servant or an employee in a company, co-operative society, local authority, university, institution, association or body FORM 10E Income Tax… Read More »

Section 89 of Income Tax Act : Relief when salary, etc., is paid in arrears or in advance.

By | December 2, 2017

Section 89 of Income Tax Act ( Amended by Finance Act 2017) [ Section 89 of Income Tax Act explains Relief when salary, etc., is paid in arrears or in advance. ] B.—Relief for income-tax] 68[Relief when salary, etc., is paid in arrears or in advance. 89. Where an assessee is in receipt of a sum… Read More »

Is Income Tax Act applicable only to residents in India?

By | December 2, 2017

Is Income Tax Act applicable only to residents in India? No, Income Tax Act applies to all persons who earn income in India, whether they are resident or non-resident. Related Post Income Tax Books Income Tax Press Release Income Tax Notifications Income Tax Circulars Income Tax Instructions Income Tax Office Memorandum Income Tax Judgments Income… Read More »

CIRCULAR NO.1061/10/2017 CX : Manual refund under GST to units in J &K , Uttarakhand, Himachal Pradesh and North East including Sikkim

By | December 2, 2017

CIRCULAR NO.1061/10/2017 CX [F.No: 116/15/2017-CX 3], DATED 27-11-2017 Govt of India Ministry of Finance Central Board of Excise and Customs Procedure for manual disbursal of budgetary support under Goods and Service Tax Regime to the units located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim-reg. Download Circular in PDF… Read More »

CIRCULAR NO.1060/9/2017-CX : Budgetary Support under GST to units in J &K , Uttarakhand, Himachal Pradesh and North East including Sikkim

By | December 2, 2017

CIRCULAR NO.1060/9/2017 CX [F.NO.116/15/2017-CX-3], DATED 27-11-2017 Govt of India Ministry of Finance Central Board of Excise and Customs Procedure for manual disbursal of budgetary support under Goods and Service Tax Regime to the units located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim-reg. As you are aware, under the… Read More »