Category Archives: IT Circular

Computation of book profit for MAT u/s 115JB for Ind AS : CBDT FAQ : Circular Number 24/2017 Dated 25th July 2017

Circular Number 24/2017 F. No 133/23/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 25th July, 2017 Subject: Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards… Read More »

No TDS on GST Paid / Payable on Services if Shown Seprarately in Tax Invoice : CDBT Circular No 23/ 2017 Dated 19h July 2017

Circular No 23/ 2017 Dated 19h July 2017 Subject : modification of Circular No 1 of 2014 in view of Substitution of Service tax by Goods and Service tax ( GST ) Download Circular No 23/2017 Related Topic on GST Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST… Read More »

Tax effect of filing appeal in case of section 115JB / 115JC : CBDT Modified Circular 21/2015 dated 10.12.2015

F.No.279/Misc-142/2007-ITJ-(Pt) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 14th July, 2017 To, All Principal Chief Commissioners of Income Tax Sub: Modification of Circular No. 21/2015 dated 10.12.2015 Madam/Sir, References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going… Read More »

Ban on Cash receipt of Rs 2 Lakhs Shall apply on one Instalment of Loan for NBFC – Circular No. 22 of 2017 [ Income Tax ] Dated 03rd July, 2017

Circular No. 22 of 2017 [ Income Tax ] Dated 03rd July, 2017 Summary : The receipt of one instalment of loan repayment in respect of a loan shall constitute a ‘single transaction’ as specified in clause (b) of section 269ST of the Act and all the instalments paid for a loan shall not be aggregated for… Read More »