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 Board of Control for Cricket in India (BCCI) may have met the deadline for replying to the queries by the Income Tax Department concerning the Indian Premiere League (IPL), but that’s not enough. Officials pointed out that the I-T Department has found the BCCI reply “inadequate”.
The director-general of Income Tax moved the Supreme Court alleging that the reward paid to an informer for furnishing information about black money of any taxpayer cannot be claimed as a matter of right.
The Central Vigilance Commission disposed of 784 cases during February 2010 referred to it for advice. The Commission advised imposition of major penalty against 170 officers including 47 from M/o Railways, 20 from MCD, 16 from Bharat Petroleum Corpn. Ltd., 10 from Bharat Coking Coal Ltd., 7 from Canara Bank, 6 each from Vijaya Bank, Bharat Heavy Electricals Ltd. and Northern Coalfields Ltd., 4 from Punjab National Bank,
Income tax authorities have asked the Board for Control of Cricket in India (BCCI) to respond by Friday, April 23, to 10 queries, including the one on income from controversy-hit IPL and its structure. The BCCI, sources said, was asked questions relating to owners of IPL teams, their balance sheets, income earned during the various tournaments and the money paid to players.
All eyes are now on S S N Moorthy. A quintessential tax sleuth, he is following the money trail in the Indian Premier League to establish the identity of franchisee owners. Moorthy stepped in to steer the Central Board of Direct Taxes (CBDT) in January last year, when the country was battling the worst-ever economic crisis after the global meltdown. The task of tax collection was daunting. With the economy showing distinct signs of recovery, the top tax administrator is confident of collecting every penny due from taxpayers this fiscal year.
The Central Board of Direct Taxes (CBDT) and the Income Tax department has received certification under IS 15700:2005 from the Bureau of Indian Standards for excellence in public delivery system after audit of the Directorate of Organisation and Management Services (DOMS), the nodal agency for implementation of Sevottam scheme, and the Aayakar Sewa Kendra (ASK) unit at Pune. This certification signifies changing face of the department, from an exclusively enforcement agency of the government to a service-oriented and citizens-centric organization.
After introducing unique account numbers for taxpayers (PAN) and those for tax deductors (TAN), the government will this fiscal introduce a unique document identification number (DIN) to be quoted on every income tax related communication.
Scheme for Collection of Dues of ( i ) Central Board of Direct Taxes ( ii ) Central Board of Excise and Customs ( iii) Departmentalised Ministries Account – Reporting and Accounting of March Transactions – Special Arrangements – Financial Year 2009-2010
Rewriting the law to clearly empower high courts to condone a delay in filing tax appeals or applications has been recommended by the Central Board of Direct Taxes (CBDT); it wants this to apply with retrospective effect, too. The amendment, official sources said, is expected to be proposed in the Union Budget.
The Central Board of Direct Taxes (CBDT) has reinstated the tax deduction at source (TDS) rules/ forms that were earlier discontinued with effect from April 1, 2009. This latest move, which would come into effect retrospectively from April 1, 2009, clearly indicates that the Income-Tax Department is not looking to implement the concept of unique transaction numbers (UTN) for sometime to come, say tax experts. In March 2009, the CBDT had stipulated that assesses filing return for assessment year 2009-10 or any other earlier assessment years should provide the UTN.
