Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: empanelment :: cpt :: due date for vat payment
 
 
« News Headlines »
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)

Incometax (14th Amendment) Rules, 2016
June, 07th 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

                                      NOTIFICATION

                                                             New Delhi, the 02nd June, 2016

       S.O. 1949(E)- In exercise of the powers conferred by section 295 read with sub-
section (2) of section 14A of the Income-tax Act, 1961 (43 of 1961), the Central
Government hereby makes the following rules further to amend the Income-tax Rules,
1962, namely:-




1. (1) These rules may be called the Income­tax (14th Amendment) Rules, 2016.
   (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules 1962, in rule 8D,-

 (I) for sub-rule (2), the following sub-rule shall be substituted, namely:-
 "(2) The expenditure in relation to income which does not form part of the total income
 shall be the aggregate of following amounts, namely:--
 (i) the amount of expenditure directly relating to income which does not form part of
 total income; and
 (ii) an amount equal to one per cent of the annual average of the monthly averages of the
 opening and closing balances of the value of investment, income from which does not or
 shall not form part of total income:
 Provided that the amount referred to in clause (i) and clause (ii) shall not exceed the total
expenditure claimed by the assessee.";




(II) sub-rule (3) shall be omitted.



                                      [Notification No. 43/2016] [F.No. 370142/7/2016-TPL]



                                                                         (Dr. T.S. Mapwal)
                                                    Under Secretary to Government of India

Note:- The principal rules were published vide Notification S.O. 969 (E), dated 26th
March, 1962 and last amended by Income-tax (13th Amendment) Rules, 2016 vide
Notification S.O.1923(E), dated 31.05.2016.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions