ITAT Kolkata bench held that disallowance under rule 8D with respect to income not includible in total income has to be computed by taking into consideration only those shares, which has yielded dividend income in year under consideration.
New deposit declaration scheme
Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016, has started on December 17 and will remain op
Procedure for registration and submission of Statement of Financial Transactions(SFT) i.e FORM 61A
Section 285BA of the incopme tax act, 1961 read with rule 114E of the income tax rules, 1962 sp
CBDT chief allays fears of Arbitrary I-T searches
The following clarifications have been issued by CBDT:
No junior officer has power to conduct
Exp. on issue of bonus shares should be allowed as revenue exp, rules Bombay HC
The High Court of Bombay held that expenses incurred for issue of bonus shares are to be allowed
Sec. 80P relief available to Co-operative credit society providing credit facilities only to its members
The High Court of Madras held that where assessee co-operative credit society was providing cre
Payment for testing, trail operation and commissioning work would attract sec. 194C TDS and not sec. 194J TDS
The High Court of Punjab and Haryana held that Contracts entered into by assessee-company with 
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