18 October 2021


Search Results for Tag : Central Board of Direct Taxes

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CBDT Notifies Emails as New Communication Mode with Taxpayers(07.12.2015)

Central Board of Direct Taxes (CBDT) has notified use of emails as new mode of communication between taxman and taxpayers, as part of government's e-i.....

Tags : Central Board of Direct Taxes , emails

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CBDT: Sebi-Registered FPIs get I-T Filing Relief(11.12.2015)

Central Board of Direct Taxes (CBDT) has clarified that incomplete or deficient returns filed by Foreign Portfolio Investors (FPIs) would not be treat.....

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CBDT Increases Monetary Limit for Court Appeal by Income Tax (I -T) Department(14.12.2015)

Central Board of Direct Taxes (CBDT) in order to cut down on frivolous litigation and taxpayers grievances, has issued fresh directions revising monet.....

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CBDT Issues New Income Tax Reporting Norms for High Value Transactions(04.01.2016)

Central Board of Direct Taxes (CBDT) has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to.....

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CBDT Issues Norms for Faster Refund in Pending Tax Demand Cases(02.02.2016)

Central Board of Direct Taxes (CBDT) has issued guidelines for expeditious tax refund of up to Rs.5,000 in cases where the department wants to adjust .....

Tags : Central Board of Direct Taxes, Tax Demand Cases

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CBDT: Contractors in Consortium Not to be Taxed as AOP(08.03.2016)

Central Board of Direct Taxes (CBDT) has said those working in a consortium will not be taxed as Association of Persons (AOP) if each entity's earning.....

Tags : Central Board of Direct Taxes , Association of Persons, consortium

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CBDT Provides Investors Tax Relief on Investment Gains(10.03.2016)

Central Board of Direct Taxes (CBDT), in order to reduce litigations between investors and the Income-Tax Department, has allowed investors to decide .....

Tags : Central Board of Direct Taxes, Investment Gains

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CBDT Relaxes Taxation Norms for Bonds, Debentures Held by Companies(23.03.2016)

Central Board of Direct Taxes (CBDT), while easing the norms, has said capital gains tax will be computed from the date of acquisition of financial in.....

Tags : Central Board of Direct Taxes , Bonds, Debentures

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Central Board of Direct Taxes: IT Department to Pay Interest on TDS Refund(27.04.2016)

Central Board of Direct Taxes has issued directive and said that Income Tax department will now add interest amount to a delayed refund made on excess.....

Tags : Central Board of Direct Taxes , TDS Refund

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CBDT: Assesse Having Annual Income of over Rs 50 Lakh Must Declare Cost Price of Expensive Assets(05.05.2016)

Central Board of Direct Taxes (CBDT) has said people with annual income of over Rs 50 lakh will have to disclose the acquisition cost of all the asset.....

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CBDT Announces Aug 31 as Last Date for Clearing Pending ITRs, Refunds(09.05.2016)

Central Board of Direct Taxes (CBDT) has declared August 31 as deadline for taxpayers whose ITRs for six assessment years between 2009-10 and 2014-15 .....

Tags : Central Board of Direct Taxes , ITRs

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CBDT: Corrupt Can’t Use Black Money Window(23.05.2016)

Central Board of Direct Taxes (CBDT) has said that corrupt individuals will not be eligible to declare their black money under compliance window that .....

Tags : Central Board of Direct Taxes, Black Money Window

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CBDT: Publishing Houses Eligible to Claim Additional Depreciation(24.05.2016)

Central Board of Direct Taxes (CBDT) has clarified that publishing houses can claim additional depreciation on plant and machinery deployed by them as.....

Tags : Central Board of Direct Taxes, Additional Depriciation, publishing houses

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CBDT Issues Draft Rules to Compute Fair Market Value of Foreign Firms(24.05.2016)

Central Board of Direct Taxes (CBDT) has taken the steps for implementing the controversial ‘indirect transfer’ provisions by issuing draft rules to s.....

Tags : Central Board of Direct Taxes, indirect transfer’ provisions

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Income Declaration & Tax Dispute Resolution Schemes to Come into Force from Tomorrow(31.05.2016)

Central Board of Direct Taxes (CBDT) has said that the Income Declaration Scheme, 2016 and the Direct and Indirect Tax Dispute Resolution Schemes 2016.....

Tags : Central Board of Direct Taxes, Income Declaration Scheme, 2016, Tax Dispute Resolution Schemes

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CBDT Notifies Tax Exemption to Startups from 'Rigour' of Section 56(2)(viib) of Income Tax Act(20.06.2016)

Central Board of Direct Taxes (CBDT) has notified tax exemption on investments above fair market rate for startups. The exemption is provided to start.....

Tags : Central Board of Direct Taxes, section 56(2)(viib) of Income Tax Act, startups

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CBDT Grants TDS Exemption for Seven Transactions(23.06.2016)

Central Board of Direct Taxes (CBDT) has helped improve cash flows for Payment System Companies by exempting seven types of transactions from TDS obli.....

Tags : Central Board of Direct Taxes , TDS, Payment System Companies

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CBDT Eases Rules for TDS Claims by Non-Resident Companies(29.06.2016)

Central Board of Direct Taxes (CBDT) has come out with Rule 37BC, which gives relaxation to Non-Residents from furnishing PAN number in India while cl.....

Tags : Central Board of Direct Taxes, Rule 37BC, TDS Claims

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CBDT Issues Final Rules for Taxing Share Buy Back by Companies(20.10.2016)

Central Board of Direct Taxes (CBDT) has introduced new Rule 44BB for computing amount received by a company in respect of issue of share for computin.....

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CBDT: No TDS or Advance Tax Credit For Disclosure Made Under PMGKY(19.01.2017)

Central Board of Direct Taxes (CBDT) has clarified that no credit will be allowed against advance tax paid or Tax Deducted at Source (TDS) or Tax Coll.....

Tags : Central Board of Direct Taxes, Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme, TDS, TCS

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CBDT Forms Committee to Recommend Measures For Expeditious Recovery of Tax Arrears(29.05.2017)

Central Board of Direct Taxes (CBDT) has issued an Office Memorandum to constitute a 7 member committee to recommend measures for expeditious recovery.....

Tags : Central Board of Direct Taxes, tax arrears

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CBDT Asks Taxpayers to Link Aadhaar with PAN Using SMS(31.05.2017)

Central Board of Direct Taxes (CBDT) has directed taxpayers to link their Aadhaar with their PAN, using an SMS-based facility.

Tags : Central Board of Direct Taxes, Aadhaar, PAN

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CBDT: No Need to Submit Form 15G/15H Every Time When Payment is Due(01.06.2017)

Central Board of Direct Taxes (CBDT) has clarified that Form 15G/15H need not be filed every time when payment is due, instead the depositor is requir.....

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Govt Extends Due Date for Filing Statement of Financial Transaction to June 30(01.06.2017)

Central Government has extended last date for filing Statement of Financial Transaction (SFT) Returns to 30th June 2017.

Tags : Central Board of Direct Taxes, Financial Transaction

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CBDT: Now File Statement of Financial Transaction at Tin Facilitating Centers(02.06.2017)

Central Board of Direct Taxes (CBDT) has enabled filing of Statement of Financial Transaction (SFT) at Tin Facilitating Centers (TIN-FC).

Tags : Central Board of Direct Taxes, Statement of Financial Transaction, Tin Facilitating Centers

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CBDT: PAN Mandatory for Refund of TDS on Immovable Property(07.06.2017)

Central Board of Direct Taxes (CBDT) has notified amendment in income Tax Rules making it mandatory to furnish PAN details in Form 26B instead of TAN.....

Tags : Central Board of Direct Taxes, TDS

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CBDT Notifies New Safe Harbour Regime(09.06.2017)

Central Board of Direct Taxes (CBDT) has notified a new safe harbour regime to reduce transfer pricing disputes, to provide certainty to taxpayers, to.....

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CBDT Notifies Transfer Pricing Tolerance Limit for AYs 2017-18 and 2018-19(12.06.2017)

Central Board of Direct Taxes (CBDT) has notified transfer pricing tolerance limit for computation of Arm’s Length Price (ALP) applicable to assessmen.....

Tags : Central Board of Direct Taxes, Transfer Pricing Tolerance Limit

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CBDT: People Not Having PAN Card Can File Form 60 Manually/Electronically Using E-Verification(12.06.2017)

Central Board of Direct Taxes (CBDT) has notified amended rules regarding furnishing of Form 60 either in manually or electronically by using e-verif.....

Tags : Central Board of Direct Taxes, Form 60, PAN Card

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CBDT: Bonds Issued by ‘Power Finance Corporation Ltd’ Are Eligible for Capital Gain Exemption(12.06.2017)

Central Board of Direct Taxes (CBDT) has notified that Capital Gain exemption under section 54EC of Income Tax Act is applicable to bonds issued by Po.....

Tags : Central Board of Direct Taxes, Capital Gain Exemption

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CBDT: Trade Advances cannot be treated as ‘Deemed Dividend’(14.06.2017)

Central Board of Direct Taxes (CBDT) has clarified that trade advances would not attract provisions of “deemed dividend” under provisions of Section 2.....

Tags : Central Board of Direct Taxes, Income Tax Act

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CBDT: Payment of ‘Passenger Service Fee’ by an Airline to Airport Operator Does Not Attract TDS(14.06.2017)

Central Board of Direct Taxes (CBDT) has issued a circular clarifying that payment of ‘Passenger Service Fee’ made by an airline to Airport Operator d.....

Tags : Central Board of Direct Taxes, Passenger Service Fee

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CBDT Notifies Rule for Computing Interest Income for Secondary Adjustments Under Transfer Pricing(19.06.2017)

Central Board of Direct Taxes (CBDT) has amended Income Tax Rules, 1962 and inserted Rule 10CB for computing interest income for secondary adjustments.....

Tags : Central Board of Direct Taxes, Transfer Pricing

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CBDT Notifies Revised Form 3CE for APA Seeking Taxpayer Identification Number of AE(20.06.2017)

Central Board of Direct Taxes (CBDT) has notified revised Form 3CE for Advance Pricing Agreements (APAs) wherein furnishing of Taxpayer Identification.....

Tags : Central Board of Direct Taxes, Advance Pricing Agreements

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CBDT Issues New Scrutiny Notices with E-Facility for Taxpayers(27.06.2017)

Central Board of Direct Taxes (CBDT) has notified revised income tax scrutiny notices enabling tax payers to resolve issues arising out of scrutiny of.....

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CBDT Enters into Five Unilateral Advance Pricing Agreement with Indian Taxpayers(29.06.2017)

Central Board of Direct Taxes (CBDT) has entered into Five Unilateral Advance Pricing Agreement with Indian taxpayers during June, 2017.

Tags : Central Board of Direct Taxes, Advance Pricing Agreements

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CBDT: Property Advance Above Rs. 20,000 Must be Disclosed in Audit Report(05.07.2017)

Central Board of Direct Taxes (CBDT) has notified that property advance of Rs. 20,000 should be disclosed in audit report u/s 44AB of Income Tax Act.

Tags : Central Board of Direct Taxes, Income Tax Act

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CBDT: Rs 2 Lakh Cash Ban Shall Not Apply on One Installment for Loan for NBFCs(06.07.2017)

Central Board of Direct Taxes (CBDT) has clarified that prohibition on cash transactions upto Rupees 2 lakhs under section 269ST of Income Tax Act doe.....

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CBDT Issues Clarification on MAT Provisions Relating to Ind AS Compliant Companies(26.07.2017)

Central Board of Direct Taxes (CBDT) has issued clarification on Implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accountin.....

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CBDT Issues Clarification on MAT Provisions Relating to Ind AS Compliant Companies(26.07.2017)

Central Board of Direct Taxes (CBDT) has issued clarification on Implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accountin.....

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#Income Tax: CBDT to Share Details of IT Returns and Tax Audit Reports with MCA(27.07.2017)

Central Board of Direct Taxes (CBDT) has issued a Notification allowing IT Department to furnish details of income tax returns and Tax Audit reports w.....

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Delhi HC Strikes Down Certain Parts of ICDS Provisions and CBDT Notifications(09.11.2017)

Delhi High Court has struck down Parts II, III, VI, VII and VIII of the Income Computation and Disclosure Standards (ICDS) and certain connected Notif.....

Tags : Delhi High Court, Income Computation and Disclosure Standards, Central Board of Direct Taxes

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CBDT Directs to Pay 100% Advance Tax Before 15th March(15.03.2018)

Central Board of Direct Taxes (CBDT) has asked the taxpayers to pay fourth and final installment (100 percent) advance tax before 15th March 2018.

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CBDT Reiterates: PAN-Aadhaar Linkage Compulsory to File Income Tax Returns(25.04.2019)

Central Board of Direct Taxes (CBDT) has once again reiterated that the linking of Aadhaar with PAN Card is mandatory for filing income tax returns.

Tags : Central Board of Direct Taxes , PAN Card, Aadhar

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CBDT Reiterates: PAN-Aadhaar Linkage Compulsory to File Income Tax Returns(25.04.2019)

Central Board of Direct Taxes (CBDT) has once again reiterated that the linking of Aadhaar with PAN Card is mandatory for filing income tax returns.

Tags : Central Board of Direct Taxes , PAN Card, Aadhar

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Bombay HC to CBDT: Reconsider Its Proposal to Incentivise CIT (A) to Enhance Assessments(25.04.2019)

Bombay High Court has asked Central Board of Direct Taxes ( CBDT ) to reconsider its decision to incentivize the Commissioner of Income Tax (Appeals) .....

Tags : Central Board of Direct Taxes , Bombay High Court, Commissioner of Income Tax (Appeals)

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CBDT Notifies New Depreciation Rates on Vehicles Purchased Between 23.08. 2019 to 31.03.2020(24.09.2019)

Central Board of Direct Taxes(CBDT) has notified new depreciation rates of 30% and 45% on vehicles purchased between 23.08.2019 to 31.03.2020. The rat.....

Tags : Central Board of Direct Taxes, CBDT, New Depreciation Rates

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Demonetisation Cases: Central Board of Direct Taxes Extends Taxman's Deadline to December 31(27.09.2019)

Central Board of Direct Taxes has extended the deadline up to December 31 for the Income-Tax department to complete the final assessment of about 87,0.....

Tags : Central Board of Direct Taxes, Demonetisation Cases

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CBDT Extends Due Date for Filing of IT Returns/Tax Audit Reports in Union Territories of J&K, Ladakh(01.11.2019)

Central Board of Direct Taxes (CBDT) has extended due date for filing of Income Tax Returns / Tax Audit Reports to 30th November, 2019 in respect of U.....

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Central Board of Direct Taxes Notifies Changes in Income Tax Return Forms(06.01.2020)

Central Board of Direct Taxes has notified changes in Income Tax Returns Forms whereby individual taxpayers owning house property in joint ownership a.....

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Central Board of Indirect Taxes Directs DGFT to Tighten System for Accrediting Exporters(06.01.2020)

Central Board of Indirect Taxes has asked Director General of Foreign Trade to tighten its system used for accrediting exporters after investigations .....

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CBDT Notifies Forms for Firms to Avail Lower Corporate Taxes(17.02.2020)

Central Board of Direct Taxes (CBDT) has notified Forms 10-IC and 10-ID for existing companies that want to avail lower Income Tax rates and new manuf.....

Tags : Central Board of Direct Taxes, Forms for Firms to Avail Lower Corporate Taxes

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CBDT: Direct Tax Case Pending in Arbitration Without Appeal Eligible Under Vivad se Vishwas Scheme(06.03.2020)

Central Board of Direct Taxes has clarified that if the direct tax case is pending in arbitration without appeal pending, it is eligible to apply unde.....

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Karnataka HC: Non-Compliance of SOP Should Not be Ground to Prohibit Candidate from Writing Exam(30.07.2020)

Central Board of Direct Taxes ( CBDT ) has extended the due date of filing Income Tax Returns for the Financial Year 2018-19 to 30th September 2020.

Tags : Central Board of Direct Taxes, Income Tax Returns

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CBDT Declines Further Extension of Due Dates for Filing ITRs(12.01.2021)

Central Board of Direct Taxes (CBDT) has declined all representations seeking further extension of due dates for filing of Audit Reports and Income Ta.....

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Central Board of Direct Taxes Introduces Faceless Penalty Scheme 2021(14.01.2021)

Central Board of Direct Taxes (CBDT) has introduced the Faceless Penalty Scheme 2021 which will digitise issuing of penalties on assessees under the f.....

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CBDT Notifies Amendment to Rule 10V for Computation of Remuneration Payable to Fund Managers(11.03.2021)

Central Board of Direct Taxes (CBDT) has notified Amendment to Rule 10V for Computation of Remuneration payable to Fund Managers. The Board notified t.....

Tags : Central Board of Direct Taxes, Income-tax (2nd Amendment) Rules, 2021

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CBDT Issues Clarification on Continuation of Concessional Rate of Tax on Interest Income of FPIs(18.03.2021)

Central Board of Direct Taxes (CBDT) has issued the clarification on the continuation of the concessional rate of tax on interest income of Foreign Po.....

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CBDT Extends Deadline for Uploading UDIN for Audit Forms/Audit Certificates(05.04.2021)

Central Board of Direct Taxes (CBDT) has extended the deadline for uploading of UDIN for Audit Forms / Audit certificates till 30th April, 2021. The U.....

Tags : Central Board of Direct Taxes, Uploading UDIN for Audit Forms/Audit Certificates

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CBDT Notifies Scrapping of Certain Forms for Income Tax Deductions(05.04.2021)

Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III under the Income Tax Act, 1961 ceased to be effective o.....

Tags : Central Board of Direct Taxes, Forms for Income Tax Deductions

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CBDT Issues Approval for Notifying CIT(A) to Exercise Jurisdiction Post Faceless Appeal Scheme(09.04.2021)

Central Board of Direct Taxes (CBDT) has issued the approval for notifying Commissioners of Income-tax (Appeals) to exercise jurisdiction over appeals.....

Tags : Central Board of Direct Taxes, Faceless Appeal Scheme 2020

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CBDT Notifies Pension Fund Named CDPQ Fixed Income XI Inc. Eligible for Exemption(06.05.2021)

Central Board of Direct Taxes (CBDT) has notified a Pension Fund namely CDPQ Fixed Income XI Inc. as eligible for exemption of Income from dividends, .....

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CBDT Notifies Amendment in Income Tax Rules for Exemption on Travel Concessions(07.05.2021)

Central Board of Direct Taxes (CBDT) has notified the amendment in Rule 2B of the Income Tax Rules, 1962 where the provisions relating to exemption in.....

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CBDT Relaxes Electronic Filing of Income Tax Forms 15CA / 15CB in View of Technical Difficulties(15.06.2021)

Central Board of Direct Taxes (CBDT) has relaxed the Electronic Filing of Income Tax Forms 15CA / 15CB, in view of the difficulties reported by taxpay.....

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Central Board of Direct Taxes Notifies Cost Inflation Index for FY 2021-22(16.06.2021)

Central Board of Direct Taxes has notified the cost inflation index (CII) for the financial year (FY) 2021-22 in a notification dated 12th June, 2021,.....

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CBDT Extends Electronic Filing of Income Tax Forms 15CA / 15CB(06.07.2021)

Central Board of Direct Taxes (CBDT) has extended the electronic filing of Income Tax Forms 15CA/15CB to 15th July, 2021. Taxpayers can submit the sai.....

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CBDT Extends Time to Process Refunds in Non-Scrutiny Cases for Assessment Year 2017-18(07.07.2021)

Central Board of Direct Taxes has extended the time for processing refunds in non-scrutiny cases for assessment year 2017-18 up to 30th September, 202.....

Tags : Central Board of Direct Taxes, Process Refunds in Non-Scrutiny Cases for Assessment Year 2017-18

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CBDT Approves Income Tax Exemption to Patanjali Research Foundation Trust(14.07.2021)

Central Board of Direct Taxes (CBDT) has approved the Income Tax Exemption to Patanjali Research Foundation Trust based in Haridwar under the category.....

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CBDT Extends Electronic Filing IT Forms 15CA/15CB Till August 15(21.07.2021)

Central Board of Direct Taxes (CBDT) has extended the electronic filing of Income Tax Forms 15CA/15CB till 15th August, 2021.

Tags : Central Board of Direct Taxes, Electronic Filing IT Forms 15CA/15CB

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CBDT Amends Rule 12 of Income Tax Rules Dealing with Return of Income(29.07.2021)

Central Board of Direct Taxes (CBDT) has notified Income-tax (20th Amendment) Rules, 2021 which seeks to amend Income-tax Rules, 1962. The Board has a.....

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CBDT Extends Due Date for Filing Various Income Tax Forms(04.08.2021)

Central Board of Direct Taxes (CBDT) has issued an order extending due dates for Quarterly statement in Form No. 15CC up to 31st August 2021, Equaliza.....

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CBDT Notifies Constitution of Special Court for Income Tax and Black Money Cases(06.08.2021)

Central Board of Direct Taxes (CBDT) has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 .....

Tags : Central Board of Direct Taxes, Special Court for Income Tax and Black Money Cases

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CBDT Notifies Determination of Income of Specified Fund of Units Held by Non-Residents(11.08.2021)

Central Board of Direct Taxes (CBDT) has inserted Rule 21AJ under Income-tax Rules, 1962 which provides for the determination of income of a specified.....

Tags : Central Board of Direct Taxes, Determination of Income of Specified Fund of Units Held by Non-Residents

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CBDT Notifies Constitution of Boards for Advance Rulings and Headquarters(03.09.2021)

Central Board of Direct Taxes (CBDT) has notified the constitution of the Boards for Advance Rulings and its Headquarters. The government empowered un.....

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CBDT Notifies Exception to Faceless Assessment Scheme(07.09.2021)

Central Board of Direct Taxes (CBDT) has notified that Assessment Orders to be passed by National Faceless Assessment Centre (NaFAC) under section 144.....

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CBDT Amends IT Rules to Ease Authentication of Electronic Records in Faceless Assessment Proceedings(08.09.2021)

Central Board of Direct Taxes has amended Income-tax Rules, 1962 (‘the Rules’) vide notification no G.S.R. 616(E) dated 6th September 2021 for easing .....

Tags : Central Board of Direct Taxes, Authentication of Electronic Records in Faceless Assessment Proceedings

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Finance Ministry Extends Due Date for Filing of Income Tax Returns (ITRs) for FY 2020-2021(10.09.2021)

Central Board of Direct Taxes (CBDT) has extended the due date of filing of income-tax returns and various reports of audit for the Assessment Year 20.....

Tags : Central Board of Direct Taxes, Filing of Income Tax Returns

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CBDT Notifies Income Tax Exemption for BCI IRR India Holdings Inc. on Eligible Investment(22.09.2021)

Central Board of Direct Taxes (CBDT) has specified the BCI IRR India Holdings Inc. for the purposes of the said clause in respect of the eligible inve.....

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CBDT Extends Time Period for Processing Income Tax Returns with Refund Claims(01.10.2021)

Central Board of Direct Taxes (CBDT) notified the extension of the time period for Processing returns with refund claims beyond prescribed time limits.....

Tags : Central Board of Direct Taxes, Income Tax Returns with Refund Claims

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