Ca final dtl

Ca new syllabus

Note : 1. Now it has been provided by inserting a new section 43CA that even in case of stock in trade also, where the consideration for the transfer of an asset other than capital asset , being land or building or both, is less than the stamp duty value, the stamp duty value shall be deemed to be the full value of the consideration for the purposes of computing income under the head Profits and gains of business of profession. The tax is to be deducted at the time of credit of amount to the account of seller or at the time of making the payment, whichever is earlier. Dividend Distribution Tax Sec. The total value of such exports was Rs. The person shall be saved from the liability if he proves that the non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company. However for Wealth tax, population for this purpose is to be taken according to the last preceding census of which the relevant figures have been published before the valuation date. All other expenses were met by his sponsors. Page 18 mdafria gmail. Stamp Duty Value- Relevant Date Here again if the date of the agreement fixing the amount of consideration for the transfer of the immovable property and the date of registration are not the same, the stamp duty value may be taken as on the date of the agreement, instead of that on the date of registration. In the list of disallowable items, one more item is being added now which is applicable for those assessees who are state government undertaking.

Page 15 mdafria gmail. Earlier this lower tax rate was to remain applicable only upto FY This provision is applicable for all types of assessments i. All other expenses were met by his sponsors.

Tax on Securitisation Trust on income distributed to investors [Sec. Page 8 mdafria gmail. Further, in case of default, the principal officer of the company and the company shall be deemed to be an assessee in default in respect of the amount of tax payable and all the provisions of this Act for the collection and recovery of income-tax shall apply.

The tax is required to be paid to the credit of the Central Government within 14 days from the date of distribution or payment of such income, whichever is earlier. She earned Rs.

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The principal officer of the domestic company and the company are liable to pay this tax to the credit of the Central Government within 14 days from the date of payment of any consideration to the shareholder on buy-back of shares 6.

It is proposed to amend the provisions of aforesaid sections, so as to provide that no deduction shall be allowed under these sections if the contribution is by way of cash. The limit of gross total income of the tax payer has been increased to Rs. Return of Income filed without payment of self- assessment tax to be treated as defective return Sec.

Direct tax ca final book

When he stayed in India, he also won a prize of Rs. This deduction is available only to a company. The tax is required to be paid to the credit of the Central Government within 14 days from the date of distribution or payment of such income, whichever is earlier. The tax is to be deducted at the time of credit of amount to the account of seller or at the time of making the payment, whichever is earlier. The person shall be saved from the liability if he proves that the non-recovery cannot be attributed to any gross neglect, misfeasance or breach of duty on his part in relation to the affairs of the company. Various courts have taken a view that the term existing liability includes advance tax liability of the assessee, which is not in consonance with the intention of the legislature. Any income by way of distributed income referred to in section TA, received from a securitisation trust by an investor of the said trust is fully exempt from tax. The deduction is available in respect of new plant or machinery acquired and installed between Page 7 mdafria gmail. Provisions Affected Above amendments shall be applicable for following provisions : Sec.
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CA Final May Direct Taxes Amendments AY