Daily Archives: March 2, 2016

New Penalty for underreporting and misreporting of income under Income tax act

By | March 2, 2016

Penalty for underreporting and misreporting of income As per Finance Bill 2016 the following section shall be inserted in Income tax act 1961 with effect from the 1st day of April, 2017, namely:— ‘Section 270A. (1) The Assessing Officer or the Commissioner (Appeals) or the Principal Commissioner or Commissioner may direct that any person who… Read More »

E filing of Income tax Appeal to CIT (appeals)

By | March 2, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Income-tax NOTIFICATION New Delhi, the 1st March, 2016 S.O. 637 (E).─ In exercise of the powers conferred by sub-section (1) of section 249, read with section… Read More »

Govt Scheme to develop hidden talents of boys/girls

By | March 2, 2016

Scheme to develop hidden talents of boys/girls The Minister of State (Independent Charge) for Youth Affairs & Sports, Shri Sarbananda Sonowal has said that the Ministry of Youth Affairs & Sports had launched the National Sports Talent Search Scheme (NSTSS) in the year 2015 which aimed at (i) identifying sporting talent among students in the… Read More »

Railway Measures to Prevent Misuse E-Ticket

By | March 2, 2016

Measures to Prevent Misuse E-Ticket Various remedial measures have been taken by the Railways to check the misuse of e-tickets including the following:- 1. Carrying of any one of the prescribed proofs of identity at the time of undertaking journey on e-tickets. 2. CAPTCHA has been put in place to check booking in batch mode… Read More »