19 August 2019


Search Results for Tag : direct tax

Notifications & Circulars

Indirect Tax Dispute Resolution Scheme Rules, 2016(31.05.2016)

The Ministry of Finance introduced Rules to give effect to Section 18 of the Finance Act 2016.

The Rules provide declarations and manner of.....

Tags : indirect tax, dispute resolution, finance act, 2016

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Direct Tax Dispute Resolution and Equalisation Levy effective 1 June 2016(31.05.2016)

The Direct Tax Dispute Resolution Scheme 2016 under Chapter X of the Finance Act 2016 came into effect on 1 June 2016. Declarations in respect of tax .....

Tags : direct tax, dispute resolution, equalisation levy, finance act, 2016

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Indirect Tax Revenue (Provisional) collections during October 2015(09.11.2015)

Figures released for indirect tax revenue – Customs, Central Excise and Service Tax - collections in October, 2015 showed an increase of 36.8 per cent.....

Tags : Indirect tax, growth, revenue, 2015

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Taxation Report on e-commerce business models suggests levy(21.03.2016)

A Committee constituted by the Central Board of Direct Taxes to examine direct tax issues arising out of prevalent e-commerce business models

Tags : e-commerce, direct tax, report

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News

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.....

Tags : Central Board of Direct Taxes

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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 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.....

Tags : Central Board of Direct Taxes , Foreign Portfolio Investors

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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.....

Tags : Central Board of Direct Taxes, Monetary Limit for Court Appeal

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CBDT Notifies New Income Tax Department Authority to Deal with Black Money Window(18.12.2015)

Central Board of Direct Taxation (CBDT) has notified new Income Tax department authority which will now be empowered to receive due taxes and penalty .....

Tags : Central Board of Direct Taxation, Income Tax department authority, Black Money Window

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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.....

Tags : Central Board of Direct Taxes, High Value Transactions

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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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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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Direct Tax Dispute Resolution Scheme, 2016 Can be Availed Up to 31st December, 2016(16.09.2016)

Direct Tax Dispute Resolution Scheme, 2016, which came into force from 1st June, 2016, can be availed up to 31st December, 2016.

Tags : Direct Tax Dispute Resolution Scheme, 2016

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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.....

Tags : Central Board of Direct Taxes, Rule 44BB, Buy Back

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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.....

Tags : Central Board of Direct Taxes, Form 15G/15H

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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.....

Tags : Central Board of Direct Taxes, Safe Harbour Regime

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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.....

Tags : Central Board of Direct Taxes, Cash Ban

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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.....

Tags : Central Board of Direct Taxes

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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.

Tags : Central Board of Direct Taxes

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Bombay HC to ASG: Find Out Exact Rate at Which Securities Transaction Tax Should be Collected(24.08.2018)

Bombay High Court has told the Additional Solicitor General (ASG) to take instructions from the Central Board of Direct Tax by August 28 on the exact .....

Tags : Bombay High Court, Additional Solicitor General, Central Board of Direct Tax, Securities Transaction Tax

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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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