Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The framework permits taxpayers to settle offences by paying prescribed compounding charges instead of facing prosecution. It clar...
Income Tax : CBDT amended Income-tax Rules to include crypto-assets and digital financial products in CRS reporting. The move expands disclosur...
Income Tax : The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrut...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate ...
Income Tax : Draft Income-tax Rules and Forms have been released for public feedback before the new law takes effect, with inputs to shape the ...
Income Tax : Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalisin...
Income Tax : The Tribunal observed that CBDT instructions prohibit the AO from examining issues beyond the specific reason for limited scrutiny...
Income Tax : Bombay High Court held that delay in filing Form No. 10 for claiming accumulation under Section 11(2) should be condoned where gen...
Income Tax : Court found that the appellant failed to clearly identify which exceptional clause applied. Since the tax effect was below Rs.2 cr...
Income Tax : The issue was whether jewellery found during search can be taxed despite CBDT limits. ITAT held that jewellery within prescribed l...
Income Tax : The case examined whether scrutiny selection without meeting CBDT conditions was valid. The ITAT held that failure to satisfy mand...
Income Tax : CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : The Central Government notified an urban development authority under section 10(46A) of the Income-tax Act. The exemption applies ...
The following Order No. 81 of 2010 dated 9th July 2010 has been issued by the Central Board of Direct Taxes to direct transfers / postings of officers in the grade of Commissioner of income-tax. Order No. 81 of 2010 dated 9.7.2010 issued by CBDT for transfer / posting of CITs (18 Pages)
Cooperative sugar factories in Maharashtra have heaved a sigh of relief as the Supreme Court, in its recent order, has asked the Commissioner of Income Tax (Appeals) to re-look on the issue of income-tax claims of Rs 2,500 crore made on the mills since 1992-93. In view of the apex court order, the mills have got further time to argue their cases before the Commissioner of Income Tax (Appeals).
The top brass of the Rs8 trillion Indian mutual fund industry will soon meet officials of the Central Board of Direct Taxes (CBDT), seeking parity in tax treatment with life insurance products. The industry, facing outflow of funds and migration of agents to insurers following regulatory changes, is unhappy with proposals in the new draft of the Direct Taxes Code (DTC) that seeks to withdraw tax benefits.
The Parliamentary Standing Committee on Finance has sought details of the financial dealings of the Indian Premier League from the UPA government. It has also questioned finance ministry and corporate affairs ministry officials on why no enquiry was conducted during the first two years of the the T20 extravaganza.
The process of drafting a new Vision document – Vision 2020 is nearing completion. An important component of the Vision 2020 document is the Citizens’ Charter 2010. As a part of Vision 2020, the Citizens’ Charter 2007 was revisited by a Working Group constituted by the CBDT.
In the year ahead, we have a tough task before us. We have to achieve a budget collection target of Rs.4.30 lakh crore. The FM in his speech yesterday had implied and hoped that the direct tax collection will exceed its Budget Estimates. However, I shall be direct and urge all of you to take all necessary steps for not only realizing, but exceeding the B.E. Exceeding our collection targets will be a form of thanksgiving to the FM for the benevolence and encouragement shown towards this Department. “
Notification No. 43/2010-Income Tax Notification:-The Central Board of Direct Taxes (“CBDT”) has extended the enhanced exemption limit of INR 10 lakhs to the employees of companies who do not fall under the provisions of the Payment of Gratuity Act, 1972. The notification will be effective from 24 May 2010.
The Finance Minister, Mr Pranab Mukherjee, has asked the Central Board of Direct Taxes (CBDT) to consider hiving off its technology-driven taxpayer services to a Special Purpose Vehicle (SPV) that could better deliver such services in the public-private-partnership (PPP) mode.
Former Infosys co-chair Nandan Nilekani will head a committee that will recommend to the finance ministry on how best to tap information technology for an effective tax administration and financial governance system. Called the technical advisory group for unique projects, the panel has been given a time frame of six months to make its suggestions, a finance ministry communique said Monday.
THE Central Board of Direct Taxes (CBDT) has directed the Income Tax Department ( ITD ) to make arrangements for receiving income tax returns on 31 st July 2010, the due date for filing tax returns by most taxpayers, as that day happens to be a Saturday. ITD has also been asked to make special arrangements by setting up additional counters from 28 th July to 31 st July 2010, to facilitate taxpayers in filing their income tax returns.
