Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Income Tax : Explore the proposed scheme for resolving unresolved tax demands, easing taxpayer burdens, and improving compliance through fair, ...
Income Tax : Bombay HC grants interim relief allowing taxpayers to claim Section 87A rebate for AY 2024-25. Revised ITR deadline extended to 15...
Income Tax : Learn about Form 12BAA, introduced for employers to credit TCS for employees, ensuring accurate TDS calculation and easing tax com...
Income Tax : Discover why paying taxes is crucial for national development and how it contributes to public services and infrastructure....
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Corporate Law : CAG's audit highlights inefficiencies in recovering ₹8.5 lakh crore of outstanding income tax demands. Key issues: inflated dema...
CA, CS, CMA : Highlights from the Finance Ministry's 2024 initiatives, covering direct tax refunds, GST reforms, Customs updates, and India's FA...
Corporate Law : CAT directs CBDT to review transfer policies for Group B & C employees, ensuring fairness and alignment with Group A guidelines. D...
Income Tax : SC dismisses SLP in K R Jayaram's tax case due to low tax effect. Reassessment under Section 147 deemed invalid. Legal question re...
Income Tax : ITAT Delhi removes erroneous ₹19,253 double addition made by CPC in HPL Mercantile Pvt. Ltd. case. The amount was already includ...
Income Tax : ITAT Bangalore remands case concerning cash deposits during demonetization, directing the AO to re-assess the addition u/s 69A aft...
Income Tax : ITAT Delhi dismisses Revenue's appeal in ACIT vs Hindukush Construction Pvt. Ltd. (AY 2016-17) due to low tax effect under CBDT Ci...
Goods and Services Tax : Key updates on Indian Customs, including trade facilitation, GST awareness, sports events, and major enforcement actions on tax ev...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Circular No. 01/2025 outlines the application of the Principal Purpose Test (PPT) under India's Double Taxation Avoidance Agreemen...
Income Tax : The CAG's 2024 report on direct taxes highlights tax issues, recovery, and errors in corporate and income tax assessments, with co...
Some posts of Members in the Central Board of Direct Tax (CBDT) in the Department of Revenue in the Level 17 of the pay matrix 2,25,000/- are likely to fall vacant in the financial year i.e. 2018-19.
Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.36 for filing an appeal to the Income Tax Appellate Tribunal (ITAT). Further, a memorandum of cross objections to the ITAT can be filed in Form No.36A.
Redressal of public grievances and taxpayer service is an area of top priority for the CBDT and the Income Tax Department. In this connection, a fortnight from 1st June to 15th June, 2018 has been dedicated for expeditious disposal of pending appeal effect and rectification matters.
News reports have been appearing in some sections of the media alleging that records & documents relating to investigation into the Nirav Modi/Mehul Choksi case have been destroyed in the Scindia House fire in Income Tax Office in Mumbai. It is hereby clarified that the said reports are completely false & misdirected.
CBDT has entered into one Unilateral Advance Pricing Agreement (UAPA) during April, 2018. With signing of this Agreement, CBDT has achieved another milestone of having signed its 200th UAPA.
ICDS Income Tax is not meant for maintenance of books of accounts or preparation of financial statements. Persons are required to maintain books and prepare financial statements as per accounting policies applicable to them. Companies are required to maintain books of account and prepare financial statements as per requirements of Companies Act 2013.
The Income Tax Department has issued about one lakh notices to people who have invested in crypto currencies like Bitcoin and have not declared it in their income tax return, CBDT (Central Board of Direct Taxes) chairman, Mr Sushil Chandra said at an ASSOCHAM event held in New Delhi today.
To run a business and make adequate tax planning, an assessee and entities may require entering into a number of transactions with outsiders as well as their relatives or close associates. Since, stringent tax laws prevailing like disallowing of an entire Expenditure while completing an assessment by Assessing Officer, it is advisable to keep all the provisions in mind.
CBDT has entered into 2 Bilateral Advance Pricing Agreements (APAs) during the month of November, 2017. These Agreements are the first ever Bilateral APAs with The Netherlands. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This includes 171 Unilateral APAs and 15 Bilateral APAs.
We wish to inform you that the CBDT is in process of reviewing/revisiting the Citizen’s Charter 2014 which is due for review in 2017. The Citizen’s Charter 2014 containing a set of promises regarding delivery of services within the specified timelines was made operational as a part of Department’s commitment to the adoption of the philosophy of SEVOTTAM
