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 take-aways from the Conference on the CBEC side are:- 1. Need for preparation for roll-out of GST with focus on IT and increased capacity building through training of officers. 2. Need to focus on Dispute Resolution: Identify 20 topmost litigated issues and examine from policy perspective whether any intervention is required.
PM encouraged the officers for a free and frank exchange of ideas during the Rajasva Gyan Sangam. He stressed that while there should be respect for the rule of law among all citizens, and even fear of the long arm of the law for those who evade taxes, people should not fear tax administrators.
With a view to examine the consequential issues arising out of amendments to India – Mauritius Double Taxation Avoidance Convention and related issues, a Working Group headed by Joint Secretary (FT&TR-II), CBDT and comprising of departmental officers and representatives of SEBI, custodians, brokerage firms and fund managers has been constituted.
Prime Minister to inaugurate the two day Annual Conference of Tax Administrators 2016 on 16th June, 2016 in the national capital; For First time that two Revenue Boards i.e. CBDT & CBEC are holding the Conference simultaneously;
Now filing Income Tax Return is convenient than ever! Thanks to the taxpayer friendly initiatives of the Income Tax Department. Just log on to www.trpscheme.com and choose ‘Locate TRPs’ or ‘Register for Home Visit’ or ‘Online Tax Help’ and a trained Tax Return Preparer (TRP) will help you in the Return Preparation process. The Scheme […]
Rule 10VA provides for mechanism of fund being approved by the Board for purpose of section 9A. The fund seeking approval is required to make an application to Member (Income-tax), CBDT. A committee as notified by the Board is to examine the application and submit its recommendations regarding grant of approval or otherwise and the conditions, if any, subject to which such approval would be granted.
In view of the Notification No. 11/2016 dated 1.3.2015 of CBDT, e-filing of appeal with CIT(A) in Form No. 35 is made mandatory. However, it alleged by the Federation that there was a technical problem in filing of appeal and also in obtaining acknowledgement of filing of appeal and therefore, the assessees file the appeal manually which was duly acknowledged.
The Tax Administration Reforms Commission (TARC) headed by Dr. Parthasarathi Shome submitted its report in four volumes containing a total of 385 recommendations that pertain to Central Board of Direct Taxes (CBDT) and 201 recommendations that pertain to Central Board of Excise and Customs (CBEC).
In this article we have compiled various codes used by Income Tax Department for showing Status of Taxpayer, Nature of Business , States , Holding Status- Nature of Company, Business Organization Type, Unit of Measurement and Section Code for Nature of income in software- Status of Taxpayer I Individual H Hindu Undivided Family (HUF) 1 […]
You may kindly note that whenever any document is uploaded to any e-Filing website , the following best practices should be complied. Scan settings ⇒ Scan to PDF ⇒ Scan at 300 dpi ⇒ Scan in Black and White only ⇒ Do not upload files with Read/Write/Password protection Scanning Source Documents Scan the original tax […]
