Income Tax Department has accepted 99.65 per cent of tax returns as it is and has picked only 0.35 per cent cases for detailed scrutiny thereby showcasing full faith in the taxpayers, chairman of the Central Board of Direct Taxes (CBDT), Mr Sushil Chandra said at an ASSOCHAM event held in New Delhi today....

The Central Bureau of Investigation has arrested 19 accused (6 Customs official & 13 private persons) including an Assistant Commissioner, Superintendents, Inspectors, private persons(including Sri Lankan Nationals) in a case related to alleged bribery and smuggling of goods....

Appropriate action by the Income-tax Department (ITD) and other Law Enforcement Agencies has been taken against those involved in the misuse of the Scheme of Demonetization. Such actions by the Income-tax Department included among others, conducting search and survey actions in relevant cases. During the period November 2016 to March, 201...

In respect of Income Tax department, the persons are liable for taxation on income/transaction originated/attributed to India irrespective of their addresses. Giving-up of Indian addresses may not result in escaping scrutiny by the Department. Specific cases of NRIs giving-up Indian addresses solely for this purpose have not been noticed....

ICAI vide its representation suggested CBDT to that changes made in Form No. 3CD be implemented from AY 2019-20 for smooth implementation and compliance. It is further suggested that the new clauses may be reconsidered and appropriately modified preferably after due consultation with the stakeholders....

Under the provisions of Income-tax Act, 1961, notices for assessment/reassessment of income of old cases of more than six years from the end of the relevant assessment year can be issued only in the following exceptional situations: i. Under clause (c) of sub-section (1) of section 149 of the Act, in cases where income in […]...

Ashish Gopal Garg has challenged by way of PIL in Supreme Court Circular No. 3/2018 dated 11.07.2018 and Instruction No. F.No.390/Misc./116/2017-JC dated 11.07.2018 issued by CBDT and CBIC respectively, whereby the threshold limit to file appeal at Supreme Court of India, by the government in Direct Tax Cases as well as Indirect Tax Cases...

CBDT has entered into nine more Unilateral Advance Pricing Agreements (UAPAs) during the month of July, 2018. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 232, which includes 20 Bilateral Advance Pricing Agreements (BAPAs)....

Income-tax Department takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income, levy of penalties and filing of prosecution complaints before criminal courts, wherever applicable....

The CBDT has issued a directive to All Pr. Chief Commissioners of Income Tax seeking details of 2 least performing CsIT (Appeals). It is not specified as to what constitutes least performing. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 27th July, 2018 To, All Pr. Chief [&helli...