CBDT

Application for Exemption U/S. 10(23C)(VI) – Detailed Discussion

Income Tax - As we all know that earlier application for granting exemption u/s 10(23C)(vi) is applied in Form 56D, which is now omitted w.e.f. 05 November, 2019. Notification No. 60/2019–Income Tax- CBDT amends rules 2C and 2CA related to Application for the purpose of grant of approval for the exemption under sub-clause (iv), sub-clause (v), s...

Read More

Why should I pay tax?

Income Tax - Some people raise the question 'Why should I pay tax? They argue: I have to pay for my food, for my house, for my travel, for my medical treatment, for owning a vehicle not only cost of vehicle but also vehicle tax and what not. Even on many roads, one has to pay toll tax! They also say that if we compare with countries like USA and UK,...

Read More

Income Tax E-Proceedings | An Aurora of New Era (Part-II)

Income Tax - In this Article we would be discussing on the Applicability and Structure of Income Tax E-assessment; Key features of scheme and some key points to think upon....

Read More

How to Download Form 16 Part A from TDS CPC website

Income Tax - As we all know that when we file TDS return of salary i.e. Form 24Q, we are always have a confusion as to now how to get Form 16 (Part A and Part B) both together? How we can apply for the same? Hence today I am covering this so that enlighten you all with […]...

Read More

The Task ‘FORCE’ which was Never Constituted….

Income Tax - A crisis like this calls for bigger tax measures which can form part of larger economic stimulus which the government provides to bring economy back on track. Therefore, the following measures have been proposed for the short-term basis, i.e. for 3-6 months, to enable the taxpayer to withstand the uncertainty in the economy:...

Read More

CBDT prioritise Vivad Se Vishwas Scheme case of demand & Refund

Income Tax - CBDT  desires that all the work related to cleaning up of the tax demands and calculating the tax payable or refundable in respect of all eligible assesses under Vivad Se Vishwas Scheme is taken up on priority and completed by 31st August 2020. Also Read- CBDT directs all CIT(A) to dispose at least 80 appeals […]...

Read More

CBDT directs all CIT(A) to dispose at least 80 appeals per month

Income Tax - CBDT directs all CIT (Appeal) that appeals are required to be disposed of through e-appeal proceedings by sending the communication through the e-filing portal and or through emails only. it directs that All pending appeals filed on or before 31.03.2016 to be taken up immediately and all smaller appeals with tax effect up to Rs. […...

Read More

Investigation Wing to handle all Tax Evasion Petitions: CBDT

Income Tax - To utilize the valuable information available to the department in the form of Tax Evasion Petitions (TEPs) and to prevent harassment of the taxpayers, Board has decided that they should be handled with the help of technology in a centralized manner. All pending TEPs, of whichever category with any officer, is to be transferred to [&helli...

Read More

Dispose all nil or lower deduction TDS/TCS applications by 31.08.2020

Income Tax - CBDT Chairman has instructed the department to Disposal of all pending applications as on 30.06.2020 for nil or lower deduction TDS/TCS certificates u/s 197 and 206C(9) by 31.08.2020 and dispose all Fresh Applications Within one month of the receipt of the application. Also Read- CBDT prioritise Vivad Se Vishwas Scheme case of demand &...

Read More

News report of Merger of CBIC & CBDT is factually incorrect

Income Tax - A news item has been published today in a leading newspaper that the Government is considering proposal to merge the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs....

Read More

CBDT cannot extend time to claim deduction under section 54F

Shivinder Singh Brar, Karta (HUF) Vs. CBDT (Punjab and Haryana High Court) - Where assessee was precluded from construction of new house due to prohibition of construction in his area then assessee could seek relaxation in terms of section 119(2)(c) at time of claiming deduction under section 54F and such claim could be made only within time period, as prescribed under Act f...

Read More

CBDT to Provide informations related to revamp of Income Tax e-filing Website

[a] Copies of all Records Received/Issued for Revamping the Website of Income-Tax Deptt. that relates to Tax Policy & Legislation Division of CBDT in particular (Because to implement the action in question amendment in statute is required to establish due compliance)....

Read More

CBDT to provide details of No. of Tax Audit & Auditors to RTI Applicant

CBDT has provided Tax Audit Data to ICAI based on the returns e-filed during the financial year 2010-11. This has been published in one of the leading Private Website for CAs on 16th day of November 2011. ...

Read More

TDS on Hotel Room Rent & Other Facilities?

The East India Hotels Ltd Vs Central Board of Direct Taxes (Bombay High Court) - TDS on the charges you pay to a Barber? The word ‘carrying out any work’ in section 194C is limited to any work which on being carried out culminates into a product or result. The word ‘work’ in s.194C is limited to doing something with a view to achieving the task undertaken or carry out an...

Read More

Clarification on PAN encrypted Digital Signature Certificate (DSC)

The Central Board of Direct Taxes (CBDT) had recently amended the Rules relating to the manner of furnishing the return of income for companies for Assessment Year 2010-11 and onwards. Under the revised Rules, all companies (including foreign compani...

Read More

One-time relaxation for Verification of Income tax-returns

Circular No. 13/2020 - (13/07/2020) - One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns...

Read More

CBDT provides Utility to ascertain TDS Applicability Rates on Cash Withdrawals

Release ID: 1638215 - (12/07/2020) - Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS applicability rates on cash withdrawal of above Rs.20 lakh in case of a non-filer of the income-tax return and that of above Rs. 1 Crore in case of a filer of the income-tax ...

Read More

SEBI signs MoU with CBDT to share Data with each other

Press Release No. 38/2020 - (08/07/2020) - The MoU will facilitate the sharing of data and information between CBDT and SEBI on an automatic and regular basis. The MoU will ensure that both CBDT and SEBI have seamless linkage for data exchange. In addition to regular exchange of data, CBDT and SEBI will also exchange with each other, on requ...

Read More

E-mails for facilitating faster refund cannot be misconstrued as harassment: CBDT

Release ID: 1616620 - (21/04/2020) - The Central Board of Direct Taxes (CBDT) responding to some observations being circulated on social media alleging that the Income Tax Department is pursuing recovery proceedings and using arm-twisting methods by adjusting outstanding demands of the start-ups, today stated that these observations ar...

Read More

Tax Rate Option exercise by Employee for TDS on Salary & by Business

Circular C1 of 2020 - (13/04/2020) - An employee, having income other than the income under head profit and gains of business or profession and intending to opt for the concessional rate under section 115BAC of the Act, may intimate the deductor, being his employer, of such intention for each previous year and upon such intimation, the...

Read More

Recent Posts in "CBDT"

One-time relaxation for Verification of Income tax-returns

Circular No. 13/2020 (13/07/2020)

One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns...

Read More

CBDT provides Utility to ascertain TDS Applicability Rates on Cash Withdrawals

Release ID: 1638215 (12/07/2020)

Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS applicability rates on cash withdrawal of above Rs.20 lakh in case of a non-filer of the income-tax return and that of above Rs. 1 Crore in case of a filer of the income-tax return. So far,more than 53,000 verifica...

Read More

CBDT prioritise Vivad Se Vishwas Scheme case of demand & Refund

CBDT  desires that all the work related to cleaning up of the tax demands and calculating the tax payable or refundable in respect of all eligible assesses under Vivad Se Vishwas Scheme is taken up on priority and completed by 31st August 2020. Also Read- CBDT directs all CIT(A) to dispose at least 80 appeals […]...

Read More
Posted Under: Income Tax |

CBDT directs all CIT(A) to dispose at least 80 appeals per month

CBDT directs all CIT (Appeal) that appeals are required to be disposed of through e-appeal proceedings by sending the communication through the e-filing portal and or through emails only. it directs that All pending appeals filed on or before 31.03.2016 to be taken up immediately and all smaller appeals with tax effect up to Rs. […...

Read More
Posted Under: Income Tax |

Investigation Wing to handle all Tax Evasion Petitions: CBDT

To utilize the valuable information available to the department in the form of Tax Evasion Petitions (TEPs) and to prevent harassment of the taxpayers, Board has decided that they should be handled with the help of technology in a centralized manner. All pending TEPs, of whichever category with any officer, is to be transferred to [&helli...

Read More
Posted Under: Income Tax |

Dispose all nil or lower deduction TDS/TCS applications by 31.08.2020

CBDT Chairman has instructed the department to Disposal of all pending applications as on 30.06.2020 for nil or lower deduction TDS/TCS certificates u/s 197 and 206C(9) by 31.08.2020 and dispose all Fresh Applications Within one month of the receipt of the application. Also Read- CBDT prioritise Vivad Se Vishwas Scheme case of demand &...

Read More
Posted Under: Income Tax |

SEBI signs MoU with CBDT to share Data with each other

Press Release No. 38/2020 (08/07/2020)

The MoU will facilitate the sharing of data and information between CBDT and SEBI on an automatic and regular basis. The MoU will ensure that both CBDT and SEBI have seamless linkage for data exchange. In addition to regular exchange of data, CBDT and SEBI will also exchange with each other, on request and suo moto basis, any information ...

Read More

News report of Merger of CBIC & CBDT is factually incorrect

A news item has been published today in a leading newspaper that the Government is considering proposal to merge the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs....

Read More
Posted Under: Income Tax |

Application for Exemption U/S. 10(23C)(VI) – Detailed Discussion

As we all know that earlier application for granting exemption u/s 10(23C)(vi) is applied in Form 56D, which is now omitted w.e.f. 05 November, 2019. Notification No. 60/2019–Income Tax- CBDT amends rules 2C and 2CA related to Application for the purpose of grant of approval for the exemption under sub-clause (iv), sub-clause (v), s...

Read More
Posted Under: Income Tax |

Why should I pay tax?

Some people raise the question 'Why should I pay tax? They argue: I have to pay for my food, for my house, for my travel, for my medical treatment, for owning a vehicle not only cost of vehicle but also vehicle tax and what not. Even on many roads, one has to pay toll tax! They also say that if we compare with countries like USA and UK,...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,821)
Company Law (6,211)
Custom Duty (7,810)
DGFT (4,248)
Excise Duty (4,373)
Fema / RBI (4,253)
Finance (4,468)
Income Tax (33,573)
SEBI (3,539)
Service Tax (3,567)

Search Posts by Date

July 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031