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 : Refunds for AY 2025–26 are being withheld after system-based risk checks detected discrepancies. Taxpayers are advised to review...
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 NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid ...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was sent bac...
Income Tax : The Tribunal ruled that assessment orders in e-proceedings must be digitally signed as per CBDT instructions. A manually signed or...
Income Tax : The issue was whether CBDT jewellery instructions could shield bullion found during a search from taxation. The Tribunal held that...
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 ...
Income Tax : CBDT instructs CIT(A) offices to issue intimation confirming withdrawal of appeals for MAP-resolved grounds, serving as proof for ...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
2. The CVC during its consultative meeting with the CBDT on 18.10.2011 has conveyed that the Vigilance Awareness Week 2011 should also be observed as Grievance Redressal week. Hence in addition to the various activities suggested in the earlier communication , the week long celebration should be combined with the whole hearted effort to redress pending grievances of the tax payers in the areas like Rectifications , Appeal effects , issuance of Refunds , Requests for PAN Migrations etc .
The following achievements are noteworthy: a) Huge network of amended DTAA (81) and TIEA with tax havens (4) has been created. b) Specific requests in 333 cases (220 by Foreign Tax Division of CBDT and 113 by FIU) have been made by Indian authorities for obtaining information from foreign jurisdictions. c) Over 9900 pieces of Information obtained (9743 information by Foreign Tax Division of CBDT and 177 information by FIU) regarding suspicious transactions by Indian citizens from several countries have been obtained which are now under different stages of processing and investigation.
Chairman of the Central Board of Direct Taxes (CBDT) M C Joshi on Friday said on the sidelines of an Assocham function that it has not given direction for targeting anyone for political reasons and action against a member of team Anna would have come in normal manner. A specific case would have come up in normal manner …No direction, anything (has been ) given to anyone to treat any such case in a particular manner.
Concerned over the CBDT panel’s proposal to allow reopening of tax filings of the past 16 years, experts and lawyers said it would only result in harassment of assessees without yielding any substantial gains to the exchequer.
The Central Board of Direct Taxes, Department of Revenue, it has been decided with the approval of competent authority that the Committee to examine ways to strengthen laws to curb generation of black-money in India, its illegal transfer and abroad and its recovery shall be co-chaired by Member (investigation), CBDT.
Nine months after the responsibility for Income Tax investigations was taken over by the Chairman of the Central Board of Direct Taxes (CBDT), the portfolio has now once again been vested with a separate member, in sync with the practice of previous years. The present Chairman of the Central Board of Direct Taxes (CBDT), M C Joshi, had held on to the charge of I-T investigations when he took over on August 1 this year.
A special voluntary disclosure scheme for bringing back black money stashed away in tax havens abroad may be in the offing. The Central Board of Direct Taxes (CBDT) is understood to be ‘seriously considering’ recommending to the government a scheme on the lines of the Voluntary Disclosure of Income Scheme (VDIS) announced in 1996 to tap funds lying abroad for productive use in India.
To Achieve the Target of Direct Tax Revenue Collections of Rs.8.3 Lakh Crore and Direct Tax to GDP Ratio at 7.62 % by 2014-15, CBDT to Continuously Evolve Processes, Procedures Innovative Ways of Taxation Especially Related to Cross Border Taxation: FM
Unlike the United Kingdom, India cannot have a treaty with Switzerland under which the deposits of Indians in Swiss banks would be taxed by the European nation, says the Central Board of Direct Taxes (CBDT).
As per Instruction No 3/2011 the revised monetary limit was applicable only for the appeals filed on or after 09/02/11 ie the date of issue of Instruction. As per para 11 of the Instruction, it was clarified that the appeals filed earlier would be governed by the old instructions operative at the time of filing.
