Income Tax - Page 30

Centralized Processing Centre (CPC) gets unique Pincode

Click here to join Online GST Certification Course Jointly by GST Professionals & A unique PINCODE 560500 has been allotted to Centralized Processing Centre (CPC), Income Tax Department located in Bengaluru by the Department of Post. Taxpayers can henceforth address their mails to “Centralized Processing Center, Income Ta...

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Posted Under: Income Tax |

CBEC Chairman on Implementation of GST

The GST Council has in its 13th meeting held on 31.03.2017, approved nine Rules which have been put in the public domain. The same are available on the departmental website....

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Posted Under: Income Tax |

CBDT Interim Action Plan for first Quarter of Financial Year 2017-18

F.No. 380/1/2017-IT(B) (13/04/2017)

Central Action Plan for the First Quarter i.e. (April, 2017 to June, 2017) of the FY 2017-18 for Assessment Units, (including International Taxation, Central and Exemption Charges), TDS Units Investigation Units International Taxation and Transfer Pricing Units, CIT (Appeals), Exemptions Units, Intelligence & Criminal Investigation Units...

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TDS U/s. 195 not applicable on Payment under Secondment if same is taxable in India as Salary

Burt Hill Design Pvt Ltd Vs Deputy Commissioner of Income Tax (ITAT Ahmedabad)

By way of this appeal, the assessee appellant has challenged correctness of learned CIT(A)’s order dated 10th Jul 2012, in the matter of assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment year 2009-10....

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No LTC / Tax benefit on Foreign Tours provided to staff, TDS deductible

State Bank of India Vs ACIT (ITAT Jaipur)

The provisions of the Act are in relation to the travel concession/assistance given for proceeding on leave to any place in India and the said concession is thus exempt only where the employee has utilized the travel concession for travel within India. Further under Rule 2B of the Income Tax Rules the condition for allowing exemption unde...

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Tax Exemption to Startups in India

Click here to join Online GST Certification Course Jointly by GST Professionals & Various tax exemptions have been given to Startups in the recent past – Following direct tax incentives were provided in Income-tax Act,1961 (‘the Act’) to promote Start-ups through Finance Act,2016: Introduction of new section 54EE ...

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Posted Under: Income Tax |

Order No. 50 of 2017: Regularization of promotion of CIT

Order No. 50 of 2017 (12/04/2017)

In continuation of Order No. 171 of 2015 dated 16.09.2015, promotion of the following officers in the grade of Commissioner of Income Tax (CM (Pay Band-4 - Rs. 37,400 – 67,000 + Grade Pay of Rs. 10,000/-) (pre-revised) for the panel year 2014-15 are, hereby, regularised with effect from the date of assumption of charge of the post by th...

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Action taken with respect to HSBC, ICIJ and Panama Paper cases

The Special Investigation Team has so far submitted five reports before the Hon’ble Supreme Court. The action taken with respect to HSBC, ICIJ and Panama Paper cases is as follows:...

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Posted Under: Income Tax |

Salary of NR seafarer not taxable merely for credit to NRE account in India

Circular No. 13/2017-Income Tax (11/04/2017)

Clarification regarding liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (Non Resident External) account maintained with an Indian Bank....

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Resolve duplicate PAN requests marked during PAN allotment: DIT

Instruction No. F.No. PDGIT(S)/ADG(S)-1/ITBA-PAN Instructions/0001/2016-26-Income Tax (11/04/2017)

As per procedure put in place a reasonable number of PAN allotment requests are being marked as probable duplicate by the system, during process of allotment of PAN, which has to be resolved by respective Regional Computer Centres (RCCs) and a decision is taken by matching details of already allotted PAN and new PAN request to either allo...

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Latest Income Tax News

Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.

Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.

Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.

At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.

Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.

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