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Budget 2016: International Tax Amendments

This budget has incorporated some significant changes with respect to the international taxation like MAT relief, Equalization levy etc. Lets see some of the important amendments 1. No MAT on Foreign Companies: MAT on Foreign companies was a very disputed… Continue Reading

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CBDT Discloses Procedure & Criteria for selection of scrutiny cases

CBDT has released a manual describing the criteria & the procedure of how scrutiny cases are to be selected by Income tax Authorities. Scrutiny cases now will be selected only if the conditions below are satisfied. Selection of Scrutiny will entail Scrutiny assessment.   Scrutiny assessment refers to Regular assessment u/s 143(3) of Income Tax. […] Continue Reading