PAGE About the Author I-5 Preface to Fourth Edition I-7 Prelude I-9 Significant Amendments made by Finance Act, 2017 I-19 Book One : Law Relating to Tax Procedures Division One Tax Practice 1.1 TAX PRACTICE 1.1.1 General 4 1.1.2 Setting and achieving goals 5 1.1.3 Dynamics of Tax Practice 5 1.1.4 Scope of Tax Practice 8 1.1.5 Options of Organization 9 1.1.6 War-like Jobs (Facing the rough weather) 11 1.1.7 Marshalling Facts with Evidence 12 1.1.8 Drafting and Carrying Conviction 12 1.1.9 Peace-Time Jobs 12 1.1.10 Delegation by Seniors 13 1.1.11 Gems of Wisdom, gathered from various books 14 I-71 Contents
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About the Author I-5
Preface to Fourth Edition I-7
Prelude I-9
Significant Amendments made by Finance Act, 2017 I-19
Book One : Law Relating to Tax Procedures
Division OneTax Practice
1.1 TAX PRACTICE1.1.1 General 41.1.2 Setting and achieving goals 51.1.3 Dynamics of Tax Practice 51.1.4 Scope of Tax Practice 81.1.5 Options of Organization 91.1.6 War-like Jobs (Facing the rough weather) 111.1.7 Marshalling Facts with Evidence 121.1.8 Drafting and Carrying Conviction 121.1.9 Peace-Time Jobs 121.1.10 Delegation by Seniors 131.1.11 Gems of Wisdom, gathered from various books 14
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Contents I-72
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1.2 TAX PRACTITIONER1.2.1 A Tax Practitioner 151.2.2 Authorized Representative 161.2.3 Authorization 171.2.4 Registration as ITP (Income Tax Practitioner) 181.2.5 Persons Disqualified to Represent 191.2.6 Personality 191.2.7 Time Management 201.2.8 Read More, Read Extra and Grow Rich 221.2.9 Succession Planning 221.2.10 Gems of Wisdom, about personal qualities - in alphabetical
order, gathered from various books 23
1.3 TAX ENGAGEMENTS1.3.1 Scope of Work 261.3.2 Remuneration and Terms of Payment 271.3.3 Engagement Letter - Contents 27
1.4 RELATIONSHIP WITH CLIENT1.4.1 What a Client needs from his Consultant? 281.4.2 The Client to be sought after 291.4.3 Well Defined Relationship 291.4.4 Adequate Reward For Services 301.4.5 Billing - Recurring, Non-Recurring Jobs 311.4.6 Communicate - Your sacrifices and achievements 321.4.7 Be Worldly Wise 321.4.8 Collection of Dues 331.4.9 New Client 341.4.10 Case Preparation 351.4.11 Client Education (Circulars to Clients, Reminders to Client for
due dates etc.) 381.4.12 Original Record with Client or with Tax Practitioner 381.4.13 Returning Old Files, Account Books etc. 391.4.14 Client’s Money (Imprest) 391.4.15 Maintaining Safe Distance 391.4.16 Professional Negligence 44
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1.5 OFFICE MANAGEMENT1.5.1 System Strength 491.5.2 Office 491.5.3 HR - Manpower 531.5.4 Filing and Storage 591.5.5 Computer and its usage 631.5.6 E-Mail 661.5.7 Efficiency Tools 671.5.8 Support System 691.5.9 Finance 76
Division TwoPre-assessment Procedures
2.1 ADVANCE TAX & SELF ASSESSMENT TAX2.1.1 Why Advance Tax? 792.1.2 Assessee liable to pay Suo Motu 802.1.3 Assessing Officer may require to pay 802.1.4 Amount payable 822.1.5 Due dates for payment of Advance Tax (as amended by
Finance Act, 2016) 822.1.6 Consequences of default in payment of Advance tax 832.1.7 No appropriation of Seized Assets for Advance tax 832.1.8 Liability to pay Self Assessment Tax 842.1.9 Computation of Self Assessment Tax 842.1.10 Time for payment of Self Assessment Tax 842.1.11 Default in payment of Self Assessment Tax 84
2.2 RETURN OF INCOME2.2.1 Return of Income - General 862.2.2 Obligation to File Return of Income 862.2.3 Due Date for filing Income Tax Return 882.2.4 Consequences for non-compliance of Due dates of Sec.
139(1) 882.2.5 Return of Income of Specified Persons 89
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2.2.6 Loss Return u/s 139(3) 912.2.7 Belated Return u/s. 139(4) 922.2.8 Revised Return u/s. 139(5) 932.2.9 Defective Return u/s. 139(9) 942.2.10 Income Tax Returns : Forms 952.2.11 Electronic filing of Returns 972.2.12 Annexure-less Returns of Income 1002.2.13 Tax Return Preparers 1012.2.14 Who to Sign the Return u/s. 140? 101
2.3 PAN - PERMANENT ACCOUNT NUMBER TAN - TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER2.3.1 General : Permanent Account No. 1042.3.2 Evolution of PAN 1042.3.3 Features of PAN 1052.3.4 Contents of PAN Card 1062.3.5 Objectives sought from PAN 1062.3.6 General : Tax Deduction and Collection Account No. 1062.3.7 Application for allotment of PAN 1072.3.8 Application for allotment of TAN 1082.3.9 Online Application - PAN/TAN 1082.3.10 Compulsory quoting of PAN on certain Transactions 1092.3.11 Compulsory quoting of TAN on certain Transactions 1102.3.12 Penalty on non-compliance of PAN/TAN provisions 1112.3.13 Correction/Change in PAN/TAN data 111
Division ThreeAssessment
3.1 ASSESSMENT - PRINCIPLES & ISSUES3.1.1 Jurisdiction 1143.1.2 Principles of Natural Justice 1163.1.3 Burden of Proof, Onus and Shifting of Burden 1173.1.4 Deeming Provisions 1193.1.5 Previous Year 121
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3.1.6 CBDT Circulars 1223.1.7 Res Judicata 1223.1.8 Notice 1243.1.9 Service of Notice 1253.1.10 Adjournment 1293.1.11 Order Sheet 1293.1.12 Affidavit 1303.1.13 Statement on Oath 1303.1.14 Capital v. Revenue 1333.1.15 Business Expediency 1343.1.16 Method of Accounting - Sec. 145 1353.1.17 Stock-in-trade 1373.1.18 Effect of book entries on accrual of income 1383.1.19 Benami, Sham and Bogus 1383.1.20 Cash Credits 1393.1.21 Intangible Additions 1443.1.22 Unexplained Investment and Expenditure 1453.1.23 Peak/Roll Over Effect 1483.1.24 Dumb Document 1483.1.25 Surrender, Confession and Retraction 1493.1.26 Meaning of Assessment 1503.1.27 Powers of Assessing Officer 1513.1.28 Assessing Officer’s Duty 1513.1.29 Arbitrariness 1533.1.30 Independence of Assessing Officer 1543.1.31 Notices u/s. 142 1543.1.32 Special Audit u/s. 142(2A) 1563.1.33 Estimate by Valuation Officer u/s. 142A 1573.1.34 Common Areas of Enquiry 1583.1.35 Protective Assessment 1593.1.36 Directions by Jt. CIT u/s. 144A 1613.1.37 Reason to Believe 1613.1.38 Reasons to be Recorded and Objections 1663.1.39 Limitation for Assessment & Reassessment 167
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3.1.40 Remedies upon unacceptable Assessment Order 1723.1.41 Tips & Traps 173
3.2 SUMMARY ASSESSMENT3.2.1 Intimation u/s. 143(1) 1763.2.2 Roots of such an assessment 1763.2.3 Changes in policy 1763.2.4 Acknowledgement of return 1763.2.5 Changes made by Finance Act, 2008 1773.2.6 Law w.e.f. 1-6-1999 1773.2.9 Changes made by Finance Act, 2008 178
3.3 SCRUTINY ASSESSMENT3.3.1 Objective 1803.3.2 Process starts with issue of Notice u/s. 143(2) 1803.3.3 Service of Notice 1813.3.4 Time for Service 1813.3.5 Time limit for completion of assessment 1813.3.6 Criteria for Selection 1823.3.7 Principles and Procedures 182
3.4 POST-SEARCH ASSESSMENT3.4.1 Purpose 1843.4.2 Powers of Search and Seizure 1843.4.3 Genesis of Post-Search Assessment 1843.4.4 Comparison 1853.4.5 Need for special provisions 187
3.5 BEST JUDGMENT ASSESSMENT3.5.1 Meaning and Purpose 1893.5.2 Section 143(2) vis-à-vis Section 143(3) 1903.5.3 Similar treatment if 145 invoked 1903.5.4 Special Opportunity to the assessee 1903.5.5 Best Judgment vis-à-vis Arbitrariness 1913.5.6 Case Laws 191
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3.6 ASSESSMENT ORDER3.6.1 Why ‘Assessment Order’ to be in Writing? 1923.6.2 Contents of an Assessment Order 1923.6.3 Speaking Order 1933.6.4 Similar applicability 1933.6.5 Refer Division 3.1 : Assessment - Principles and Issues and
in particular to the under noted portions 194
3.7 RE-OPENING OF ASSESSMENT3.7.1 When an assessment can be reopened 1953.7.2 When can an action under section 147 be initiated 1953.7.3 Extended meaning of income escaping assessment 1953.7.4 Books of account vis-a-vis disclosure 1963.7.5 When proceedings can be dropped 1963.7.6 Return u/s 148 1963.7.7 When an assessee fails to comply with notice u/s 148 1963.7.8 Scope of an assessment u/s 147 1963.7.9 Law applicable 1963.7.10 Conclusion of reopened assessment 1963.7.11 Time-limit 1963.7.12 Rectification 1963.7.13 Reopeningofanassessmentbenefitsdepartmentonly 1963.7.14 When reopening not permitted 196
3.8 RECTIFICATION3.8.1 Rectification of Mistake 2033.8.2 Apparent from Record 2043.8.3 Hearing Opportunity 2043.8.4 Limitation 2043.8.5 Remedies against Order u/s. 154 2053.8.6 Other Amendments u/s 155 2053.8.7 The following decisions may be referred to 2073.8.8 Check List 210
3.9 REVISION3.9.1 Nature of Revision u/s. 264 212
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3.9.2 Powers of Principal Commissioner or Commissioner u/s. 264 2123.9.3 Duties of Principal Commissioner or Commissioner u/s. 264 2133.9.4 When an Order cannot be revised u/s. 264? 2133.9.5 Time Limit for filing Revision u/s. 264 2143.9.6 Limitation for Passing Order u/s. 264 2143.9.7 Finality of Order u/s. 264 2153.9.8 Why power u/s. 263? 2153.9.9 Which Order can be revised u/s. 263? 2153.9.10 Erroneous as well as Prejudicial 2163.9.11 Connotation of ‘record’ 2163.9.12 Power coupled with Duty 2173.9.13 Hearing Opportunity 2173.9.14 Doctrine of Merger 2173.9.15 Limitation for Passing Order u/s. 263 2183.9.16 Remedies against Order u/s. 263 2183.9.17 The following decisions may be referred to 2193.9.18 Check List 227
Division FourAppeals
4.1 APPEALS TO CIT(APPEALS)4.1.1 What is an Appeal? 2294.1.2 Right of Filing an Appeal 2304.1.3 Appeals under Income-tax Act 2304.1.4 Payment of Admitted Tax 2334.1.5 Check List for First Appeal 2334.1.6 What can be challenged? 2344.1.7 Powers of CIT(Appeals) 2344.1.8 Jurisdiction 2344.1.9 Power to Enhance 2344.1.10 No Power to Set Aside 2364.1.11 Excluded Period from Time Limit of filing Appeal 2364.1.12 Condonation of Delay 2364.1.13 Additional Evidence 238
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4.1.14 Additional Grounds of Appeal 2404.1.15 Withdrawal of Appeal 241
4.2 APPEALS TO ITAT/HIGH COURT/SUPREME COURT4.2.1 ITAT Appeals - General 2434.2.2 ITAT - Administration 2434.2.3 ITAT - Appealable Orders 2444.2.4 ITAT - Time Limit for Filing Appeal/Cross Objection 2484.2.5 ITAT - Procedure for Filing Appeal 2494.2.6 ITAT - Cross Objections 2504.2.7 ITAT - Cross Appeals & Cross Objections 2514.2.8 ITAT - Withdrawal of Appeal 2514.2.9 Stay by ITAT 2514.2.10 ITAT - Paper Book, Compilation 2534.2.11 ITAT - Hearing 2544.2.12 Powers of ITAT 2554.2.13 Restrictions on Powers of ITAT 2564.2.14 ITAT - Rectification of Mistake 2584.2.15 ITAT - Check List 2604.2.16 ITAT - Tips & Traps 2614.2.17 High Court Appeal 2654.2.18 Writ Jurisdiction 2664.2.19 Supreme Court Appeals 267
Division FiveInterest, Fees, Penalty and Prosecution
5.1 INTEREST PAYABLE BY ASSESSEE5.1.1 General 2705.1.2 Mandatory and Automatic 2705.1.3 Rounding off - Amount of Tax 2705.1.4 Rounding off - Period 2705.1.5 Defaults for which Interest becomes payable 2705.1.6 Varied Interest Rates for Different periods 2715.1.7 Interest Payable u/s. 234A 271
5.2 FEES PAYABLE BY ASSESSEE5.2.1 General 2755.2.2 Mandatory and Automatic 2755.2.3 Defaults for which Fees becomes payable 2765.2.4 Fees Payable u/s. 234E 2765.2.5 Fees Payable u/s. 234F as per Finance Act, 2017 276
5.3 PENALTIES5.3.1 Why the Penalties? 2785.3.2 Fundamentals of Penalties 2795.3.3 Quasi Criminal 2795.3.4 Not Automatic; mens rea 2805.3.5 Valid Initiation 2815.3.6 Quantum of Penalty 2825.3.7 Technical or venial breach; Bona fide mistake 2825.3.8 No penalty in certain cases 2835.3.9 Benefit of Doubt 2845.3.10 Hearing Opportunity u/s. 274 2845.3.11 Speaking Order 2855.3.12 Types of Penalties 2855.3.13 Failure/delay in filing Return of Income 2865.3.14 Penalty for Concealment u/s. 271(1)(c) in relation to any
assessment prior to Asst. year 2017-18 2875.3.15 Penalty for Concealment u/ss. 271AAA and 271AAB 2895.3.16 Presumptions for Penalty 2935.3.17 Concealment Penalty - Presumptions 2935.3.18 Assessee to prove Reasonable Cause - Sec. 273B 2965.3.19 Presumptions in a Search Case - Sec. 292C 297
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5.3.20 Penalty for defaults - PAN, TAN 2985.3.21 Penalty for defaults - TDS and TCS 2985.3.22 Penalty for defaults - Tax Payment 2995.3.23 Penalty for Non-maintenance of Account Books etc. 3005.3.24 Penalty for defaults - Audit 3005.3.25 Penalty for defaults - Loans, Deposits and Cash Trans-
actions as per Finance Act, 2017 3025.3.26 Penalty for Non-compliance of Notices etc. 3035.3.27 Penalty for Non-co-operation 3035.3.28 Penalty for defaults - International Transactions 3035.3.29 Penalty for under reporting and misreporting of Income u/s.
270A 3055.3.30 Penalty for non-furnishing of information on account of
Financial Transactions or reportable account 3075.3.31 Penalty in respect of certain income u/s. 271AAC inserted
by Taxation Laws (Second Amendment) Act, 2016 3075.3.32 Penalty for furnishing of incorrect information u/s. 271J as
per Finance Act, 2017 3085.3.33 Who can impose Penalty? 3085.3.34 Law Applicable 3095.3.35 Time Limits u/s. 275 3095.3.36 Surest Suicidals 3115.3.37 Tips and Traps 311
5.4 WAIVER OF INTEREST AND PENALTY5.4.1 Waiver of Interest levied u/ss. 234A, 234B and 234C 3135.4.2 Waiver of Interest levied u/s. 220 3145.4.3 Waiver of Penalty u/s 273A 3165.4.4 Power of Principal Commissioner or Commissioner to grant
immunity from penalty u/s 273AA 318
5.5 PROSECUTION5.5.1 Meaning and Purpose 3205.5.2 Criminal Jurisprudence 3215.5.3 Terminology 3215.5.4 Offences under Income-tax Act 3245.5.5 Presumptions 326
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5.5.6 Who to be Jailed? 3285.5.7 Opportunity before Prosecution 3305.5.8 Launching of Prosecution 3305.5.9 Quashing the Complaint 3315.5.10 Immunity - Abatement of Settlement Application 3345.5.11 Compounding of Offence 3345.5.12 Internal Working of the Department 335
Division SixRefunds
6.1 Necessity 3396.2 Relevant Provisions 3396.3 Claim of Refund 3396.4 Withholding of Refund u/s. 241A 3396.5 Interest payable by the Department 3396.6 Condonation of Delay for claiming Refund 341
Division SevenSettlement commission - ITSc
7.1 Background 3447.2 Recent Changes 3457.3 Eligibility Criteria for Filing Settlement Application 3457.4 Computation of Additional Tax 3467.5 Procedure For Filing Application 3467.6 Admission of Application 3467.7 Calling Report From CIT 3477.8 Declaring Application as Invalid 3477.9 Enquiry By ITSC 3477.10 Passing of Final Order 3487.11 Organisational Structure 3487.12 Additional Income 3517.13 Fast Track Arrangements 3517.14 Powers of ITSC 3527.15 Immunity From Prosecution and Penalty - Sec. 245H(1) 353
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7.16 Bar on Subsequent Application 3547.17 New Abatement Provisions 3547.18 Check List for Filing Settlement Application 354
Division EightSummons, Survey, Search
8.1 SUMMONS8.1.1 Powers under CPC 3588.1.2 Nature of the Powers 3588.1.3 Pendency required 3598.1.4 No Pendency required 3608.1.5 Duty of assisting Taxpayer 3608.1.6 Summons issued but could not be served 3618.1.7 Authorised Representative 3618.1.8 Issue of Commissions 361
8.2 CALLING INFORMATION8.2.1 General 3628.2.2 Who can exercise the Powers u/s. 133? 3628.2.3 From Firm - Section 133(1) 3638.2.4 From HUF - Section 133(2) 3638.2.5 From Trustee, Guardian or Agent - Section 133(3) 3638.2.6 From any Assessee - Section 133(4) 3638.2.7 From Stock Exchange etc. - Section 133(5) 3648.2.8 From Bank, etc. - Section 133(6) 3648.2.9 Penalty 365
8.3 SURVEY8.3.1 Why survey? 3668.3.2 Who can Survey? 3678.3.3 Which Premises can be Surveyed? 3688.3.4 Time of Survey 3698.3.5 Powers of Survey Authority 3698.3.6 Duties of the Person Surveyed 3708.3.7 Rights of the person Surveyed 371
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8.3.8 Survey in connection with TDS/TCS Compliances 3718.3.9 Survey to Collect Information about Expenditure 3718.3.10 Impounding books etc. in survey 3728.3.11 Converting a Survey into Search 3738.3.12 Material found in Illegal Survey 3738.3.13 Door-to-door survey 373
8.4 SEARCH & SEIZURE8.4.1 Meaning & Safeguards 3758.4.2 Warrant of Authorisation 3768.4.3 Pre-Search Exercise 3788.4.4 Who can execute a Search Warrant? 3788.4.5 Rights of the Search Party 3798.4.6 Rights of the Person Searched 3808.4.7 Obligations of the Person Searched 3828.4.8 Presence of Consultant during Search & Seizure 3838.4.9 Actual Working of Search & Seizure 3848.4.10 Recent Amendments 3888.4.11 Recording of Statement during Search & Seizure 3908.4.12 Surrender of Income 3918.4.13 Retraction 3938.4.14 Presumption Regarding Valuables & Documents Found 3938.4.15 No multiple additions 3948.4.16 Seizure of Third Party Valuables 3968.4.17 Seizure of Documents and Extension 3968.4.18 Restraint/Prohibitory Order u/s. 132(3) 3978.4.19 Requisition from another Authority u/s. 132A 3978.4.20 Appropriation of Seized Valuables u/s. 132B 3998.4.21 Challenging Validity of Search by Writ 4008.4.22 Material seized in Illegal search 4018.4.23 Power of Arrest 4028.4.24 Post-search Assessment 4028.4.25 Directions u/s. 144A 4028.4.26 Settlement Commission 4028.4.27 Tips and Traps 403
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Division NineTDS and TcS
9.1 TDS - DEDUCTION OF TAX AT SOURCE9.1.1 No TDS from certain Deductee 4099.1.2 Mandate to Quote PAN (section 206AA) 4109.1.3 TDS from Salaries (section 192) 4119.1.4 TDS from interest on Securities (section 193) 4139.1.5 TDS from Dividend (section 194) 4139.1.6 TDS from Interest Other than Interest on Securities
(section 194A) 4149.1.7 Winnings from Lottery etc. (section 194B) 4169.1.8 Winnings from Horse Race etc. (section 194BB) 4169.1.9 TDS from Payment to Contractors (section 194C) 4179.1.10 TDS from Insurance Commission (section 194D) 4199.1.11 TDS from Payment of Life Insurance Policy Money on
Maturity (section 194DA) 4199.1.12 TDS from payment to Non-Resident Sportsman or Sport
Association (section 194E) 4209.1.13 TDS from National Savings Scheme (section 194EE) 4209.1.14 TDS for repurchase of units of Mutual Fund of UTI
(section 194F) 4209.1.15 TDS from Prize on Lottery Tickets (section 194G) 4209.1.16 TDS from Commission or Brokerage (section 194H) 4219.1.17 TDS from Rent (section 194-I) 4229.1.18 TDS on Payment on transfer of certain immovable property
other than agricultural land (section 194-IA) 4239.1.19 TDS from Rent for Individual and HUF (section 194-IB) 4239.1.20 TDS from income under developer agreement u/s. 45(5A)
(section 194-IC) 4249.1.21 TDS from Fees for Professional/Technical Services
(section 194J) 4249.1.22 TDS - Compulsory Acquisition of Immovable Property
(section 194LA) 4259.1.23 TDS from interest from infrastructure debt fund
(section 194LB) 426
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9.1.24 TDS from income from units of a business trust (section 194LBA) 426
9.1.25 TDS from Income in respect of units of investment fund (section 194LBB) 426
9.1.26 TDS from Income in respect of investment in securitization trust (section 194LBC) 427
9.1.27 TDS from Income by way of interest from Indian company (section 194LC) 427
9.1.28 TDS from Income by way of interest on certain bonds and Government securities (section 194LD) 428
9.1.29 TDS from payments to Non-Residents (section 195) 4289.1.30 Income to be paid is “Net of Tax” (section 195A) 4319.1.31 TDS from Income from Units - Sec. 196B 4329.1.32 TDS from Income from foreign currency bonds or shares of
Indian company (section 196C) 4329.1.33 TDS from Income of Foreign Institutional Investors from
securities (section 196D) 4329.1.34 Tax Deducted is Deemed Income (section 198) 4329.1.35 Credit for Tax deducted (section 199) 4339.1.36 Duty of Person deducting Tax (section 200) 4339.1.37 Fee for default in furnishing TDS return (section 234E) 4349.1.38 Consequences of failure to deduct or pay TDS (section 201) 434
9.2 TAX COLLECTION AT SOURCE - TCS9.2.1 No TCS or TCS at lower rate in certain cases 4369.2.2 TCS by Seller of specified goods - section 206C(1) 4379.2.3 TCS by Licensor - section 206C(1C) 4389.2.4 TCS by Seller on receipt of cash as consideration - section
206C(1D) 4389.2.5 TCS on sale of motor vehicle - section 206C(1F) 4399.2.6 PAN by collectee for TCS Compliance - section 206CC-
Applicable from 1-4-2017 as inserted by Finance Act, 2017 4409.2.7 Seller - Meaning for provisions of TCS u/s. 206C(1),
206C(1C), 206C(1D) and 206C(1F) 4409.2.8 Scrap - Meaning 4409.2.9 Obligation for TCS 440
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Division TenRecovery of Tax
10.1 RECOVERY OF TAX - GENERAL10.1.1 Pendency of Appeal etc. 44310.1.2 Assessee in Default 44510.1.3 Consequences of being an assessee in default 446
10.2 STAY OF DEMAND10.2.1 Significance of Stay of Demand 44710.2.2 Seeking Stay of Demand 44810.2.3 What to Emphasise for Stay? 44910.2.4 Provisions of Section 220(6) v. 220(3) 45010.2.5 Stay by CIT(Appeals) 45010.2.6 Stay by ITAT 45110.2.7 Writ Jurisdiction 452
10.3 RECOVERY10.3.1 Recovery of Demand 45310.3.2 Interest u/s. 220(2) 45410.3.3 Special Cases 45410.3.4 Cost Benefit Analysis 455
Division ElevenSpecial Procedures
11.1 SFTRA - STATEMENT OF FINANCIAL TRANSACTION OR REPORTABLE ACCOUNT (EARLIER AIR - ANNUAL INFORMATION RETURN)11.1.1 Objective - Curbing Tax Evasion 45811.1.2 Persons required to furnish SFTRA 45911.1.3 Nature of transactions covered 46011.1.4 Furnishing SFTRA 46111.1.5 Useful Websites 461
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11.2 AAR - AUTHORITY FOR ADVANCE RULING11.2.1 Broad Scheme 46211.2.2 Terminology 46311.2.3 Procedure for obtaining an Advance Ruling 46411.2.4 Questions on which Advance Ruling can be sought 46511.2.5 Powers and Order of AAR 465
11.3 A&D - AMALGAMATION AND DEMERGER11.3.1 Purpose 46711.3.2 “Amalgamation” also called Merger means 46711.3.6 “Undertaking” includes 46811.3.7 Capital Gains Exempt 46811.3.8 Carry forward of Losses and Depreciation of Amalgamating
Company 46811.3.9 Carry forward of Losses and Depreciation of Resulting
Company 46911.3.10 Amortisation of A&D Expenditure 46911.3.11 Depreciation in year of A&D 46911.3.12 Actual Cost 47011.3.13 Written Down Value (WDV) 47011.3.14 Benefit of Incentives to continue despite A&D 47011.3.15 Provisions for Shareholders of A&D Company 47011.3.16 Beneficial provisions applicable to Banking Company 471
11.4 AOP - ASSOCIATION OF PERSONS11.4.1 What is an Association of Persons? 47211.4.2 How to form an AOP? 47311.4.3 Unity of Purpose 47311.4.4 Minor - Member of an AOP 47311.4.5 Taxation of an AOP 473
11.5 FIRM11.5.1 What is Partnership? 47611.5.2 Who can become a Partner? 47611.5.3 Essentials of valid Partnership 47611.5.4 Formation of Partnership 477
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11.5.5 Partnership Deed 47711.5.6 Contents of Partnership Deed 47711.5.7 Admission 47811.5.8 Retirement 47811.5.9 Dissolution of Partnership Firm 47811.5.10 Registration of Firm 47911.5.11 Tips and Traps 48011.5.12 Taxation of Firms 48111.5.13 Rate of Firm Tax 48211.5.14 Interest and Remuneration to Partners 48211.5.15 No Double Taxation 48311.5.16 Presumptive Income 483
11.6 LLP - LIMITED LIABILITY PARTNERSHIP11.6.1 What is Limited Liability Partnership? 48511.6.2 LLP, Company and Firm : Comparative Study 48511.6.3 Who can become a Partner? 48811.6.4 Essentials of valid LLP 48811.6.5 Constitution of LLP 48811.6.6 LLP Agreement 48911.6.7 Contents of LLP Agreement 48911.6.8 Incorporation of LLP 49011.6.9 Admission 49011.6.10 Cessation of Partnership Interest 49011.6.11 Conversion of partnership firm into LLP 49111.6.12 Conversion of company into LLP 49211.6.13 Winding up, Dissolution and striking off the name 49211.6.14 Tips and Traps 49311.6.15 Taxation of LLP 49411.6.16 Rate of Tax 49511.6.17 Interest and Remuneration to Partners 49511.6.18 No Double Taxation 49511.6.19 Presumptive Taxation 49511.6.20 Signing of Income Tax Return 495
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11.6.21 Liability of Partners in Liquidation 49511.6.22 Conversion of Firm into LLP : Tax Implications 49611.6.23 Conversion of Company into LLP : Tax Implications 49611.6.24 Alternate Minimum Tax 498
11.7 TRUST, MUTUALITY, CHARITY11.7.1 Trust 50111.7.2 Creation of a Trust 50211.7.3 Instrument of Trust Deed 50311.7.4 Mutuality 50411.7.5 Income Exempt u/s. 10 50611.7.6 Significance 50711.7.7 Various Registrations 50811.7.8 Forms of Organization 50811.7.9 Society 50811.7.10 Company u/s. 8 50911.7.11 Deity, Debuttar 51011.7.12 Broad Scheme of Taxation of Charity 51011.7.13 Charitable Purpose u/s. 2(15) 51111.7.14 Voluntary Contributions u/s. 2(24)(iia) 51511.7.15 Application of Income u/s. 11 51611.7.16 Corpus Donations u/s. 11(1)(d) 51911.7.17 Capital Gains u/s. 11(1A) 51911.7.18 Accumulation u/s. 11(2) 52011.7.19 Investment by the Institutions u/s. 11(5) 52111.7.20 Registration u/s. 12A 52311.7.21 Disabling Provisions u/s. 13 52611.7.22 Religious Institutions u/s. 13(1)(a), (b) 52911.7.23 Section 80G 52911.7.24 Anonymous Donation u/s. 115BBC 53011.7.25 Rate of Tax u/s 164 53111.7.26 Business by Charitable Institution 53111.7.27 Accounts and Audit 53311.7.28 Return of Income 53311.7.29 TDS 534
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11.7.30 Conversion of the Trust or Institution - w.e.f. 1-6-2016 53411.7.31 Foreign Contribution (Regulation) Act, 1976 534
11.8 HUF - HINDU UNDIVIDED FAMILY11.8.1 Hindu Undivided Family (HUF) 53811.8.2 Significance of HUF in Tax Laws 53811.8.3 Creation of HUF 53911.8.4 Hindu 54011.8.5 Hindu Law 54011.8.6 Mitakshara v. Dayabhaga 54111.8.7 HUF v. Coparcenary 54211.8.8 Family, Karta & Members 54311.8.9 HUF Property 54411.8.10 Blending 54411.8.11 Gift to or by HUF 54611.8.12 Stridhan 54611.8.13 Partition 54711.8.14 Receipt by a Member from HUF Income 54911.8.15 Salary, Commission etc. 55011.8.16 Effect of Hindu Succession Act 55111.8.17 Reunion of HUF 551
11.9 NR - NON-RESIDENT11.9.1 Broad Principles 55311.9.2 Recent changes in Income accrue or arise in India 55411.9.3 Presumptive Taxation of Business Income of Non-
Resident 55511.9.4 Other Special provisions for Business Income of Non-
Resident etc. 55611.9.5 Special Rates of Tax in respect of certain Income 55611.9.6 TDS Borne by the Payer 55811.9.7 “Actual Cost” of Asset Brought into India by Non-Resident 55811.9.8 Capital Gains on Shares and Debentures in Indian Company 55911.9.9 Taxation of Non-Resident Indians 55911.9.10 Special Rates of Tax for Non-Resident Indians 56011.9.11 Applicability of Chapter XIIA after becoming resident 560
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11.10 TRANSFER PRICING11.10.1 Purpose 56211.10.2 Terminology 56211.10.3 Computation of Income arising from International
Transaction 56311.10.4 Methods of Computation of Arm’s Length Price 56411.10.5 Choosing the Most Appropriate Method 56511.10.6 Determination of Arm’s Length Price by Assessing Officer 56611.10.7 Reference to Transfer Pricing Officer 56711.10.8 Procedure after a Reference is received 56711.10.9 Rectification by Transfer Pricing Officer 56811.10.10 Information and Documents to be maintained 56811.10.11 Report of Chartered Accountant 56911.10.12 Penalties 56911.10.13 When Arm’s Length Price not to be determined? 570
11.11 DRP - DISPUTE RESOLUTION PANEL11.11.1 Purpose 57111.11.2 Objective 57111.11.3 Eligible assessee - It means 57211.11.4 Scheme of DRP 57211.11.5 Rules and Procedures 57311.11.6 Constitution of the Panel 57311.11.7 Procedure For Filing Objections 57411.11.8 Additional Evidence 57511.11.9 Issue of Directions 57511.11.10 Abatement of Proceedings 57511.11.11 Assessment Order 57511.11.12 Rectification of Mistake 57611.11.13 Appeal against Assessment Order 576
Division TwelveApprovals
12.1 Dictionary Meaning 577
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12.2 Purpose 57812.3 Administrative or Internal Approvals 57812.4 Approvals by Central Government etc. 58112.5 Approval by Chief CIT, DG etc. 58512.6 Some Approvals Sun-set by now 586
Division ThirteenSTT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
13.1 SECURITIES TRANSACTION TAX - STT13.1.1 Broad Scheme 58913.1.2 Important Definitions 58913.1.3 Rate of Security Transaction Tax 59013.1.4 Value of Taxable Securities Transaction 59113.1.5 Collection and Payment 59113.1.6 Filing of Return and Penalty 592
13.2 DIVIDEND DISTRIBUTION TAX - DDT13.2.1 Broad Scheme of DDT u/s 115-O 59313.2.2 Deemed Dividend u/s 2(22) 59413.2.3 Rates of Dividend Distribution Tax 595
13.3 TAX ON LIQUIDATION, REDUCTION AND BUY BACK13.3.1 Liquidation of Companies and taxability 59613.3.2 Reduction of share capital and taxability 59713.3.3 Capital Gains on Purchase by Company of its own Shares
or other Specified Securities: Buy Back 598
13.4 MINIMUM ALTERNATE TAX - MAT13.4.1 Applicability 60013.4.2 Book Profit Computation 60013.4.3 MAT Credit Sec 115JAA 60413.4.4 Other Provisions of MAT 604
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13.5 ALTERNATE MINIMUM TAX - AMT13.5.1 Broad Scheme u/s 115JC 60513.5.2 Applicability of AMT 60513.5.3 Adjusted Total Income - ATI 60613.5.4 Tax Credit of AMT u/s 115JD 60613.5.5 Other Provisions of AMT 607
13.6 WEALTH TAX - WT13.6.1 Broad Scheme 60813.6.2 Meaning of “Asset” - Section 2(ea) 60913.6.3 Exempt Assets (section 5) 61013.6.4 Valuation of Assets (section 7) 61113.6.5 Special Provisions 61213.6.6 Provisions analogous to Income Tax Act 612
Division FourteenRTI, Ombudsman
14.1 RTI - RIGHT TO INFORMATION14.1.1 Right to Information - General 61414.1.2 Rights to Citizens 61614.1.3 Scope 61614.1.4 Process 61614.1.5 Time Limits for Replying 61714.1.6 Fees for Information 61714.1.7 Partial Disclosure 61814.1.8 Exclusion of Certain Agencies 61814.1.9 Information Exclusions 61814.1.10 Filling of Appeal 62014.1.11 Filing of Complaints 62114.1.12 Role of the Government 62114.1.13 Power to make Rules 62214.1.14 Links to Web 622
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14.2 OMBUDSMAN14.2.1 Introduction 62314.2.2 Income Tax Ombudsman 62414.2.3 Objective behind the guidelines 62414.2.4 Disputes to be considered by Ombudsman 62414.2.5 Power and Duties 62514.2.6 Applying to Ombudsman 62614.2.7 Time limit for making the application 62614.2.8 Bar against Complaint 62714.2.9 Procedure 62714.2.10 Details required for the application 62714.2.11 Proceedings Before The Ombudsman 62714.2.12 Award 62814.2.13 List of Income Tax Ombudsman 629
Division FifteenDrafting of Deeds
15.1 Introduction 63315.2 Document 63415.3 Deeds Poll and Indenture 63415.4 Stages in Business Contracts 63415.5 Simple Words 63515.6 Figures and Words 63515.7 Components or Parts of a Document 63515.8 Non-operative Parts of a Deed 63515.9 Operative Parts of a Deed 63815.10 Stamp Duty 64015.11 Registration 64115.12 Precautions 642
Division SixteenAgreement, MOU
16.1 Agreement - Meaning of 644
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16.2 When agreement deemed to be void 64416.3 Who can sign an agreement 64416.4 An agreement does not require attestation 64416.5 Stamp duty on agreement differs from State-to-State 64416.6 Registration in case of Immovable property worth 100 crore or
more compulsory 64516.7 Some MOU’s/agreements appended as case studies to instant
Chapter 645
Division SeventeenGift, Wills, Family Arrangements
17.1 GIFT17.1.1 Gift - General 64717.1.2 Taxation of Gifts 64817.1.3 Reference to Valuation Officer 65017.1.4 Burden to Prove Genuineness of Gift 650
17.2 WILLS17.2.1 Introduction 65217.2.2 Terminology 65217.2.3 What is a Will? 65317.2.4 Codicil 65317.2.5 Will v. Nomination 65417.2.6 Kinds of Wills 65417.2.7 Who can make a Will? 65517.2.8 Law Governing Testator 65517.2.9 Effect of Muslim Law 65517.2.10 Execution 65517.2.11 Attestation 65617.2.12 Revocation and Revival 65617.2.13 Deposit and Registration 65617.2.14 Probate 65617.2.15 Interpretation of Wills 65617.2.16 Disadvantages of Will 657
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17.2.17 Discretionary Trust by Will 657
17.3 FAMILY ARRANGEMENTS17.3.1 Introduction 65817.3.2 Characteristics of a Family Arrangement 65917.3.3 Registration 659
Division EighteenPower of Attorney etc.
18.1 POWER OF ATTORNEY18.1.1 Power of attorney governed by Act of 1882 66218.1.2 Sectiondefiningpowerofattorney 66218.1.3 Who can execute a power of attorney 66218.1.4 Exceptions 66218.1.5 Classificationofattorneys 66218.1.6 Specific/generalpowerofattorney 66218.1.7 Drafting of ‘POAs’ 66218.1.8 Stamp duty on ‘POA’ 66318.1.9 When its authentication is necessary 66318.1.10 When its registration is compulsory 663
18.2 INDEMNITY AND GUARANTEE18.2.1 Indemnity 66418.2.2 Indemnity v. Guarantee 66418.2.3 Clause for Indemnity 66518.2.4 Separate Bond 66518.2.5 Registration 665
19.4 Lease v. License 66819.5 Advantages of Lease 669
Division TwentySale/Transfer of Properties
20.1 MOVABLE PROPERTY20.1.1 What are Movables? 67120.1.2 Meaning of Sale 67220.1.3 Who can enter into a transaction for Sale? 67220.1.4 Sale - Significant ingredients 67220.1.5 Stamp Duty on Sale Deed of Movables 67320.1.6 Assignment 67320.1.7 Stamp Duty and Attestation 67320.1.8 Registration 673
20.2 IMMOVABLE PROPERTY20.2.1 Meaning of Immovable Property 67420.2.2 Conveyance v. Agreement 67520.2.3 Stamp Duty 67520.2.4 Registration 67720.2.5 Immovable Property Transactions 67720.2.6 Developer Agreement 67820.2.7 Organizer’s Arrangements 68020.2.8 Tenanted Property 68120.2.9 Tips and Traps 681
20.3 TAXATION OF IMMOVABLE PROPERTY TRANSACTIONS20.3.1 Tax Implications 68420.3.2 Capital Gains 68420.3.3 Notional Sale Consideration u/s. 50C 68820.3.4 Exemption for Investment 69220.3.5 Business Income 69620.3.6 Deductions u/s. 80-IBA etc. 69720.3.7 Developer Agreement 697
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20.3.8 Partner’s Contribution - Whether taxable? 69920.3.9 Contribution to LLP 70020.3.10 Family Arrangement 70220.3.11 Tips and Traps 702
Book Two : Tax Practice
Division Twenty OneTax Practice
TAX PRACTICE21.1 Form 39 70721.2 Certificate by Assessing Officer 70921.3 Certificate by the Senior 71021.4 Form 38 71121.5 Form 40 71221.6 Letter of Engagement 71321.7 Schedule of Recommended Fees by ICAI 71621.8 Power of Attorney : General 72321.9 Power of Attorney : Specific 72521.10 Vakalatnama 72621.11 Time Sheet 72821.12 Unique File No. in Computer 72921.13 Grouping of Files 73121.14 Front side and Inside of File 73221.15 SMS 73421.16 Case Dairy 73521.17 Message Slip 73621.18 Daily Report 73721.19 Dispatch Register 73821.20 Inward Register 73921.21 Due Date Register 740
22.1 Proforma of Notice u/s. 210(3) 74622.2 Draft Reply to Notice issued u/s. 210(3) after last day of
February 74722.3 Draft Reply to Notice issued u/s. 210(3) and advance tax paid 74922.4 PAN Application - Instructions 75022.5 TAN Application - Instructions 75522.6 Correction/change in PAN data or surrender of PAN 75622.7 Correction/change in TAN data or surrender of TAN 76122.8 Notice u/s. 272B for having Duplicate PAN 76722.9 Reply to Notice u/s. 272B 768
Division Twenty ThreeAssessment - Principles and Issues
23.1 Basics - Assessment Procedure 770 23.1.1 Notices, Compliances 772 23.1.2 Adjournment, Authorized Representative, Order Sheet 78823.2 Scrutiny Assessment - Tools 795 23.2.1 Enquiry, Summons 795 23.2.2 Affidavit, Statement on Oath 798 23.2.3 Directions by Joint CIT - Sec. 144A 805 23.2.4 Special Audit - Sec. 142(2A) 809 23.2.5 Survey 81223.3 Scrutiny Assessment - Issues 838 23.3.1 Bogus, Benami Transactions 838 23.3.2 Method of Accounting, Book Result, Stock Valuation 844 23.3.3 Cash Credits, Share Capital, Gift 882 23.3.4 Disallowance of Expenses, Losses 898
24.1 Credit not allowed for TDS in intimation u/s. 143(1) 103224.2 Interest wrongly charged u/s. 234B/234C 103424.3 Error of principle - Same income considered twice 103624.4 Deduction u/s. 80-IAC not increased and Totalling Mistake 103824.5 Deduction u/s. 80-IA has to be allowed at a higher figure than claimed in the return of income with reference to business income as assessed 104024.6 Set off not allowed for brought forward losses in the past 104224.7 Excessive Interest charged while giving effect to ITSC Order 1044
Division Twenty FiveRevision
25.1 Ad hoc disallowances out of expenses - Time for filing appeal has expired 1049
25.2 Disallowance out of expenses - Deduction u/s. 80HHC not increased correspondingly 1055
25.3 Addition for low withdrawals and deduction u/ss. 80L and 80G not granted 1059
25.4 Revision Petition to challenge 1062 Lump sum addition 1062 Ad hoc Disallowances 106225.5 Assessee’s income from retail trade and covered by sec.
44AF - Ad hoc disallowance out of expenses 106525.6 Explanation in response to Notice u/s. 263 - No interest
offered on FDR of ` 1 Crore 106825.7 CIT proposes 263 against post search assessment 1070
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Division Twenty SixAppeals to cIT(Appeals)
26.1 Reconciliation of Income Returned and Assessed 107826.2 Ad hoc disallowances out of manufacturing and administrative
expenses - Challenging by filing appeal before CIT(Appeals) 108026.3 Surrender of ` 15,00,000 during search retracted - Retraction
not accepted by Assessing Officer - Filing first appeal 108826.4 Assessment reopened - Income of Benamidar included in
reassessment - Filing of Appeal 109326.5 Books of account rejected and income estimated by invoking
sec. 145 read with sec. 144 - Routine disallowance of expenses - Filing of appeal before CIT(Appeals) 1099
26.6 No real delay in filing appeal 110326.7 Condonation of delay 110426.8 Additional grounds of appeal before CIT(Appeals) 110626.9 Additional evidence - Rule 46A 110826.10 Ad hoc disallowances in first year of business 111026.11 Written submissions before CIT(Appeals) 111226.12 Routine disallowance out of expenses on ground of unverifiable
nature and alleged personal use 111626.13 Petition to grant stay of demand 111926.14 Disallowances and Addition for low withdrawals - Draft of
First Appeal 112126.15 Power of Attorney to argue before CIT(Appeals) 112526.16 Material privately obtained by AO - Used without giving
opportunity to the assessee 112626.17 Disputes in the Directors of the Company - Inability to produce
record before AO 112826.18 Withdrawal of appeal before CIT(Appeals) 113126.19 Order by CIT(Appeals) granting withdrawal of appeal 1132
Division Twenty SevenAppeals to - ITAT - High court - Supreme court
27.1 Appellate Tribunal Check List - Proforma 113427.2 Appellate Tribunal Check List - Filled in 1136
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27.3 Filing an appeal before ITAT` 113827.4 Covering letter for filing Paper Book and Power of Attorney
before ITAT 114227.5 Power of Attorney to argue ITAT appeal 114427.6 Paper Book Index 114627.7 Filing Cross Objections to ITAT 114827.8 Petition for delay condonation 115027.9 Stay Petition before Appellate Tribunal 115227.10 Additional grounds of appeal and additional evidence 115527.11 Petition for rectification of mistake before ITAT 115827.12 Written Submissions before ITAT 116127.13 Objections to departmental Paper Book 116927.14 Request to ITAT to direct Assessing Officer for production
of relevant documents 117227.15 Request for preponement 117527.16 Compilation of decisions relied upon 117627.17 Another Compilation - Additional Evidence 117827.18 Effect to ITAT Order 117927.19 Appeal to High Court against ITAT Order 118227.20 SLP - Settlement Commission could not dispose of by the cut off date - Abatement of the proceedings to AO as per sec. 245HA - High Court declined to interfere 1185
Division Twenty EightInterest Payable by assessee
28.1 Interest Payable by Assessee 1190
Division Twenty NinePenalties
29.1 Keeping penalty proceedings in abeyance : Brief Petition 119529.2 Keeping penalty proceedings in abeyance : Detailed Petition 119729.3 Routine Disallowances out of Expenses - Concealment 120029.4 Penalty u/s. 271(1)(c) - Explanation on Merits 1201
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29.5 Reply to assessing officer for penalty u/s. 271(1)(c) - Addition because method of accounting is changed by the assessing officer 120529.6 First Appeal partly allowed - Both the assessee and department have filed appeal to ITAT - ITAT appeal is pending decision -
Explanation on merits 120729.7 Concealment penalty - Addition of ` 2 lac on agreed basis 121529.8 Loss reduced on assessment - Old decisions in favour of no penalty in such cases - Legal position nullified by amendment in Explanation 4 to sec. 271(1)(c) w.e.f. 1.4.2003 - Whether applicable to assessment year 2002-03 for which assessment is completed in March, 2006 1217
Division ThirtyProsecution
30.1 Hearing opportunity by CIT before launching prosecution - Filing of petition 1219
30.2 Department has already filed prosecution - The assessee wants to file a petition for compounding - Covering Letter 1222
30.3 Compounding Petition 1223
Division Thirty OneRefunds
31.1 Revalidation of Refund Voucher 122731.2 Proforma of Indemnity Bond 122831.3 Letter of Grievance 122931.4 Refund due to Order of CIT(Appeals) 123031.5 Refund Voucher lost by bank 123131.6 Indemnity Bond - Refund Voucher lost by bank 123331.7 Petition for fresh refund in case of deceased 123431.8 Indemnity Bond by Legal Heir 123631.9 Affidavit - Refund due to Order of ITAT 123731.10 Refund - Due to claim of advance tax not taken in Return of
Income 1239
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Division Thirty TwoSettlement of cases
32.1 Covering Letter 124132.2 Settlement Application - Form 34B 1243
Division Thirty ThreeSurvey
33.1 Survey u/s. 133A - Books of account and other documents impounded - Statements recorded - Inspection, photocopy and certified copy of Statements recorded 1245
33.2 Survey u/s. 133A - No proceeding pending - Release of impounded books etc. 1248
33.3 CIT calling report from Assessing Officer - Release of Books of account etc. impounded u/s. 133A 1250
33.4 Actual release of books of account etc. u/s. 133A by Assessing Officer 1251
Division Thirty FourSearch & Seizure
34.1 Ground Rules for Searches and Seizures 125434.2 Seizure of Ornaments - CBDT Circular 125934.3 Performa of Search Warrant 126034.4 Preliminary Statement of person searched before actual
commencement of search 126334.5 Language in which statement can be recorded 126434.6 Search party asking for some minute details towards the
close of the search when the person is exhausted 126534.7 Unlikeable situation may surface such as incomplete cash
book 126634.8 Requisition of books of account of earlier years 126734.9 Incomplete and haphazard data on computer 126834.10 Purchase of immovable property 127034.11 Enquiry about jewellery - Whether new? 1271
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34.12 Purchase of agricultural land by minors, gift received and gift given 1273
34.13 An irrelevant question by the search party 127434.14 Surrender of income to seek immunity from penalty for
concealment in the case of a search 127534.15 Surrender of income to seek immunity from penalty for
concealment in the case of a search by harmonizing various items 1276
34.16 Panchnama - Search & Seizure action u/s. 132 127834.17 Annexures to Panchnama - Nature and significance 128234.18 Annexure for Books of Account etc. 128434.19 Annexure for Bullion/Jewellery 128534.20 Annexure for Cash 128634.21 Annexure for Other Assets 128734.22 Annexure for Stock 128834.23 Search and Seizure - Inspection, Photocopy and Certified
copy of statements recorded 128934.24 Restraint Order u/s. 132(3) - Proforma 129134.25 Life of Restraint Order u/s. 132(3) 129334.26 Very old restraint Order u/s. 132(3) for NSCs - Post Office
insists for its formal recall for payment of maturity value of NSCs 1295
34.27 Omnibus or highly generalised restraint order to bank 129734.28 Restraint order for bank account of persons not searched, etc. 130034.29 Restraint order issued for disclosed bank accounts 130234.30 Restraint order for bank account opened in current financial
year 130434.31 Restraint order issued for stock in trade and sealing of
warehouses 130734.32 Restraint order issued for residential house and its sealing 131034.33 Revoking Restraint order u/s. 132(3) 131334.34 Search and Seizure - Cash Seized - Release for adjustment
towards Advance Tax for current financial year and existing tax liabilities 1315
34.35 Request for release of assets seized for payment of tax 131734.36 Release of Jewellery against Bank Guarantee 1319
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34.37 Request for release of seized valuables - All assessments completed - Due taxes paid 1321
34.38 Interest u/s. 244A on cash kept deposited in PD Account 132334.39 Requisition u/s. 132A - Proforma of Warrant 132534.40 Proforma of notice u/s. 153A(a) 132734.41 Objection to notice u/s. 153A(a) and request for inspection,
copy etc. 132934.42 Formal compliance of notice u/s. 153A 133234.43 Assessee not aware of requisition u/s. 132A - Notice from
Assessing Officer u/s. 153A - Representation before ADI (Investigation) and Assessing Officer 1334
34.44 Requisition u/s. 132A - Cash seized by police handed over in supurdagi of Court - Objections before Court 1336
Division Thirty FiveTax Deduction at Source
35.1 Proforma of Notice u/s. 201(1) 134335.2 Proforma of Report of Short Deduction/Collection 134535.3 Proforma of Report for Challans mis-match 134735.4 Reply to the Notice u/s. 201(1) 134835.5 Proforma of Order u/s. 201(1) 1350
Division Thirty SixRecovery of tax
36.1 Formal Letter for Stay of Demand upon filing appeal before CIT(Appeals) 1352
36.2 Stay of concealment penalty when its quantum appeal is decided in assessee’s favour 1354
36.3 Where appeal decided in assessee’s favour in earlier years - Stay of Demand 1356
36.4 Petition to CIT to Direct Assessing Officer for Stay 135836.5 Release of Attachment made u/s. 226(3) 1360
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Division Thirty SevenTrust, Mutuality, charity
37.1 Charitable Trust Deed 136137.2 Corpus Donation Letter 1371
Division Thirty EightFirm
38.1 Simple Partnership Deed 137238.2 Partnership Deed for a new Firm 137538.3 Partnership Deed upon conversion of proprietary business
into a partnership 138238.4 Covering letter to Client 138738.5 Retirement Deed for a Partnership Firm 138938.6 Partnership Deed for recording change in constitution on
account of simultaneous admission and retirement of partners 139338.7 Notice by Minor upon attaining majority 140138.8 Public Notice of Dissolution 140238.9 Dissolution Deed for a Partnership Firm 1403
39.1 Simple LLP Agreement 140839.2 LLP Agreement for a new LLP 141839.3 LLP Agreement on conversion 143039.4 Covering letter to client 144039.5 Consent letter of partner being an individual 144239.6 Consent letter of designated partner being an individual 144339.7 Consent letter of partner in capacity of a nominee of a
company 144439.8 Consent letter of designated partner in capacity of a nominee
of a company 144539.9 Resolution by company to become partner and appoint
nominee 1446
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39.10 Ratification of LLP Agreement 144739.11 Resolution to ratify the LLP Agreement 144939.12 Subscriber Sheet 1450
Division FortyRight to Information - RTI
40.1 Form of Application 145140.2 Intimation for deposit of further fee 145340.3 Form of Notice to third party 145440.4 Transfer of application to other State Public Information
Officer 145540.5 Forwarding of Application - Appeal 145740.6 Form of supply of information to the applicant 145940.7 Rejection Order 146140.8 Form of Appeals 1462
Division Forty OneAgreement, MOU
41.1 Awarding Contract by Government Corporation 146341.2 Selling Agency Agreement 147241.3 Agreement between a company and its director to be
appointed as an employee to create employer-employee relationship 1476
41.4 Showroom space in Multiplex 147941.5 Corporate Sponsorship Agreement 1482
Division Forty TwoAOP - Association of Persons
42.1 Formation of Association of Persons (AOP) 1485
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Division Forty ThreeHUF - Hindu Undivided Family
43.1 Memorandum of total partition 149143.2 Petition u/s. 171 149543.3 Draft notice u/s. 171(2) by Assessing Officer conducting
enquiry of claim of partition of the HUF 149743.4 Compliance to Notice u/s. 171(2) by members of HUF 149943.5 Order u/s. 171 150143.6 Memorandum of Reunion 1502
Division Forty FourGift
44.1 Gift Confirmation 150444.2 Memorandum for gift of Security 150644.3 Affidavit for gift by Cheque 150844.4 Affidavit for gift to HUF 150944.5 Affidavit for gift of Ornaments 151144.6 Gift Deed for Gift by Cheque 151344.7 Gift by HUF of Mama - Taxability 1515
Division Forty FiveWills
45.1 Simple Will giving entire Estate to wife 151745.2 Legacy in favour of various family members 151945.3 Joint Will of husband and wife 1521
Division Forty SixFamily arrangements
46.1 Memorandum of Family Arrangement between 2 Separate Families 1523
46.2 Partnership - Family Arrangement for immovable property 1528
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Division Forty SevenPower of attorney
47.1 General Power of Attorney by a lady proprietress 153247.2 Power of Attorney by Karta of HUF 153547.3 Special Power of Attorney 153847.4 General Power of Attorney by a Firm to its employee 154047.5 Special Power of Attorney to execute a Sale Deed 1543
Division Forty EightIndemnity and Guarantee
48.1 Indemnity Bond for Refunds due (Apart from Interest) 154548.2 Indemnity by a Partner Retaining Assets and Liabilities to
Another Partner on the Dissolution of the firm 154748.3 Indemnity to Bank 1549
Division Forty NineLease, Rent, Leave and License
49.1 Letting out premises with processing equipments 155149.2 Leave and License Agreement 1554
Division FiftySale/Transfer of Properties
50.1 Draft letter for Sale of Vehicle 155850.2 Assignment of certain business assets 155950.3 Assignment of partnership business to a Private Limited
Company as a going concern 156150.4 Agreement to Sell-Land/House 156350.5 Special Power of Attorney to present a Conveyance for
sale before Sub Registrar 156650.6 Sale of Flat 156850.7 Developer Agreement 1571
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50.8 LLP - Contribution of immovable property 157550.9 Family Arrangement for immovable property contributed by
