Daily Archives: February 16, 2018

Finance Act 2017 : Exemption of long term capital gains tax under section 10(38) of the Incometax Act.

By | February 16, 2018

Exemption of long term capital gains tax under section 10(38) of the Incometax Act. 11.1 Clause (38) of Section 10 of the Income-tax Act, before amendment by the Act, provided that the income arising from a transfer of long term capital asset, being equity share of a company or a unit of an equity oriented… Read More »

Finance Act 2017 : Exemption of income of Chief Minister’s Relief Fund or the Lieutenant Governor’s Relief Fund.

By | February 16, 2018

Exemption of income of Chief Minister’s Relief Fund or the Lieutenant Governor’s Relief Fund. 9.1 Section 10(23C) of the Income-tax Act provide exemption in respect of income of certain funds which include inter alia the Prime Minister’s National Relief Fund. 9.2 The Chief Minister’s Relief Fund or the Lieutenant Governor’s Relief Fund, referred to in… Read More »

Finance Act 2017 : Tax-exemption to partial withdrawal from National Pension System (NPS).

By | February 16, 2018

Tax-exemption to partial withdrawal from National Pension System (NPS). 8.1 The provisions of section 10(12A) of the Income-tax Act specify that payment from National Pension System (NPS) trust to an employee on closer of his account or opting out shall be exempt up to 40% of total amount payable to him. 8.2 In order to… Read More »

CBDT released Explanatory Notes to the Provisions of the Finance Act 2017 : CIRCULAR No 2/2018

By | February 16, 2018

CIRCULAR No. 2/2018 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2017 F. No. 370142/15/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated, 15th of February, 2018 CIRCULAR NO.2/2018 [F.NO.370142/15/2017-TPL], DATED 15-2-2018 Section/Schedule Particulars/Paragraph number Finance Act, 2017 First Schedule Rate Structure, 3.1-3.4 Chapter III Income-tax Act, 1961 2… Read More »

[Video] GST News [ Part 160 ] : Tax Payments under GST FAQs : CA Satbir Singh ! TaxHeal.com

By | February 16, 2018

GST News [ Part 160 ] : Tax Payments under GST FAQs : CA Satbir Singh ! TaxHeal.com Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars… Read More »

NOTIFICATION G.O.Ms.NO.85, DATED 16-2-2018 : Andhra Pradesh GST

By | February 16, 2018

SECTION 47, READ WITH SECTION 128, OF THE ANDHRA PRADESH GOODS AND SERVICES TAX ACT, 2017  WAIVER OF LATE FEE PAYABLE BY ANY REGISTERED PERSON FOR FAILURE TO FURNISH RETURN IN FORM GSTR-5A BY DUE DATE NOTIFICATION G.O.Ms.NO.85, DATED 16-2-2018 In exercise of the powers conferred by section 128 of the Andhra Pradesh Goods and Services… Read More »

NOTIFICATION G.O.Ms.NO.87, DATED 16-2-2018 : Andhra Pradesh GST

By | February 16, 2018

SECTION 148 OF THE ANDHRA PRADESH GOODS AND SERVICES TAX ACT, 2017, READ WITH SECTION 20 OF THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 NOTIFIED COMMON PORTAL – RESCISSION OF NOTIFICATION G.O.Ms.NO.225, DATED 22-6-2017 NOTIFICATION G.O.Ms.NO.87, DATED 16-2-2018 In exercise of the powers conferred by section 146 of the Andhra Pradesh Goods and Services Tax… Read More »

NOTIFICATION G.O.Ms.NO.86, DATED 16-2-2018 : Andhra Pradesh GST

By | February 16, 2018

SECTION 47, READ WITH SECTION 128, OF THE ANDHRA PRADESH GOODS AND SERVICES TAX ACT, 2017 WAIVER OF LATE FEE PAYABLE BY ANY REGISTERED PERSON FOR FAILURE TO FURNISH RETURN IN FORM GSTR-6 BY DUE DATE NOTIFICATION G.O.Ms.NO.86, DATED 16-2-2018 In exercise of the powers conferred by section 128 of the Andhra Pradesh Goods and Services… Read More »

NOTIFICATION G.O.Ms.NO.84, DATED 16-2-2018 : Andhra Pradesh GST

By | February 16, 2018

SECTION 47, READ WITH SECTION 128, OF THE ANDHRA PRADESH GOODS AND SERVICES TAX ACT, 2017 WAIVER OF LATE FEE PAYABLE BY ANY REGISTERED PERSON FOR FAILURE TO FURNISH RETURN IN FORM GSTR-5 BY DUE DATE NOTIFICATION G.O.Ms.NO.84, DATED 16-2-2018 In exercise of the powers conferred by section 128 of the Andhra Pradesh Goods and Services… Read More »

NOTIFICATION G.O.Ms.NO.83, DATED 16-2-2018 : Andhra Pradesh GST

By | February 16, 2018

SECTION 47, READ WITH SECTION 128, OF THE ANDHRA PRADESH GOODS AND SERVICES TAX ACT, 2017  WAIVER OF LATE FEE PAYABLE BY ANY REGISTERED PERSON FOR FAILURE TO FURNISH DETAILS OF OUTWARD SUPPLIES FOR ANY MONTH/QUARTER IN FORM GSTR-1 BY DUE DATE NOTIFICATION G.O.Ms.NO.83, DATED 16-2-2018 In exercise of the powers conferred by section 128 of… Read More »

USA IRS : Avoid busyness: Taxpayers should have on hand information from your 2016 taxes

By | February 16, 2018

Avoid busyness: Taxpayers should have on hand information from your 2016 taxes IR-2018-30SP, February 16, 2018 WASHINGTON – The Internal Revenue Service, IRS, today reminded taxpayers who this year changed tax software product that might need information from your 2016 tax return to complete your return this year. It is always a good idea to keep copies of your… Read More »

Maharashtra Electricity Regulatory Commission Notified u/s 10(46) of Income Tax

By | February 16, 2018

 SECTION 10(46) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – STATUTORY BODY/AUTHORITY/BOARD/COMMISSION – NOTIFIED BODY OR AUTHORITY NOTIFICATION NO. SO 696(E) [NO.8/2018 (F.NO.196/38/2015-ITA-I)], DATED 16-2-2018 In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said… Read More »

Vice President of ITAT : Tenure extended : Notification

By | February 16, 2018

NOTIFICATION NO.A-12023(1)/15/2016-ADMN.HI(LA), DATED 16-2-2018 In continuation to the Government of India, Ministry of Law and Justice, Department of Legal Affairs’ Notification No. A-12023(1)/15/2016-Admn.III(LA) dated the 12th October, 2017, published in the Gazette of India – Extraordinary, the Central Government, in exercise of the powers conferred by section 252 of the Income Tax Act, 1961 (43 of… Read More »

Health Service Scheme of Department of Atomic Energy notified u/s 80(D)(2)(a) of Income Tax Act

By | February 16, 2018

SECTION 80D OF THE INCOME-TAX ACT, 1961 – DEDUCTION UNDER SECTION 80D (2)(a) – NOTIFIED HEALTH SERVICE SCHEME NOTIFICATION NO. SO 697(E) [NO.9/2018 (F.NO.178/29/2017-ITA-I)], DATED 16-2-2018 In exercise of the powers conferred by clause (a) of sub-section (2) of section 80D of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Contributory… Read More »

TAX RETURN PREPARER (AMENDMENT) SCHEME, 2018 – CORRIGENDA

By | February 16, 2018

TAX RETURN PREPARER (AMENDMENT) SCHEME, 2018 – CORRIGENDA TO NOTIFICATION NO. GSR 44(E) [NO.4/2018 (F.NO.142/16/2010 (SO)-TPL (PART)], DATED 19-1-2018 NOTIFICATION NO. GSR 171(E) [NO.7/2018(F.NO.142/16/2010 (SO)-TPL (PART)], DATED 16-2-2018 In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), dated the 19th January, 2018, published in the Gazette… Read More »