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Income Tax - This document presents the strategy and current status of Operation Clean Money. It intends to explain the Income-tax Department's approach to verification of cash deposits as a means to promote and enhance voluntary compliance. It also contains a section on the different modus operandi adopted by tax evaders as observed and documented by...
Read MoreIncome Tax - CBDT has vide notification No. 21/2017 released ITR forms for Assessment Year 2017-18 / Financial Year 2016-17. The number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequen...
Read MoreIncome Tax - Application for allotment of Permanent Account Number(PAN) will be filed in SPICe (INC-32) form using Digital Signature of the applicant as specified by the Ministry of Corporate Affairs. After generation of Corporate Identity Number (CIN). MCA will forward data in form 49A to prescribed Income Tax Authority through digital signature. ...
Read MoreIncome Tax - Certain strategies were suggested for implementing the Income Declaration Scheme (IDS), 2016 and it was also advised that the jurisdictional Pr. CIT/CIT would be the one and only point of contact with a declarant so as to maintain the confidentiality of declarants....
Read MoreIncome Tax - Part II of the Standard Operating Procedure (SOP) (Part I - 08.07.2015) for making application for claim of tax exemption u/s 11(1)(c) of the Income-tax Act, in respect of remittance of money/relief articles by Indian NGOs/Charitable Organisations for earthquake hit people in Nepal -....
Read MoreIncome Tax - Income tax was first introduced on 24th July, 1860 by the British to compensate for the losses suffered by them during our first war of independence in 1857, post-independence...
Read MoreIncome Tax - Over a period of time, it was widely felt that the Income-tax (Appellate Tribunal) Rules, 1963, have outlived their utility to some extent in view of changing circumstances and the use of technology in the Tribunal’s functioning. In the times to come, the use of technology in the Tribunal’s day to day functioning will increase manifol...
Read MoreIncome Tax - The draft ICDS on Real Estate Transactions along with the significant changes suggested in ICDS vis-à-vis the Guidance Note issued by ICAI are uploaded on the Income-tax website at http://www.incometaxindia.gov.in....
Read MoreIncome Tax - This Income Computation and Disclosure Standard shall be applicable for determination of income from all forms of transactions in real estate, which refers to land as well as buildings and rights in relation thereto...
Read MoreIncome Tax - This Annual Report is also unique because it actually condenses the first five years of the programme (1st July, 2012 to 31st March, 2017) into one report. This was necessary to lend proper perspective to the programme and also to cover all the years in one document. It would be the CBDT’s endeavour to come out with regular Annual Repor...
Read MoreITO Vs. Accurum India Pvt. Ltd. (ITAT Chennai) - The issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personnel and supplying the data thereof to its parent company in US is eligible for deduction under sec.lOA or not read with the Board's Circular dated 26.9.2000. In this connec...
Read MoreOrder No. 178 of 2017 - (12/10/2017) - The President is pleased to promote the following officers of Indian Revenue Service on regular basis in the grade of Joint Commissioner of Income Tax in Level - 12 in the pay matrix Rs. 78800-209200) with immediate effect and until further orders...
Read MoreDt. No. 683/CIT/(A&J)/2015 - (12/10/2017) - As per the Central Action Plan issued for the F.Y. 2017-18, all pending appeals having tax effect of Rs. 50 crore or more are to be dispose of up to 31st December, 2017 as mentioned at Para (i) of Action Plan of chapter-III of the Central Action Plan which is reproduced as under: -...
Read MoreF. No. 370142/25/2017-TPL - (06/10/2017) - It is proposed to insert rulac 10DA, 10DB and form nos. 3CEBA to 3CEBE in the Income-tax Rules, 1962 (`the Rules'), laying down the guidelines for maintaining and furnishing of transfer pricing documentation in the Master File and Country-by-Country report. In this regard, the following guidelines a...
Read MoreNo.A-27023/30/2016-Ad.VI (A) - (03/10/2017) - It has come to the notice of the Board that official cars being used by the officers posted in the various field units/Zones are using the State Emblem without any authority and in gross violation of the statutory provisions....
Read MoreInstruction No. 8/2017 - (29/09/2017) - Assessment proceedings in following time-barring scrutiny cases, pending as on 1st October,2017 where hearing have not been completed, would be carried out through the ‘e-Proceeding‘ facility on ITBA-...
Read MoreOrder No. 178 of 2017 - (12/10/2017) -
Dt. No. 683/CIT/(A&J)/2015 - (12/10/2017) -
F. No. 370142/25/2017-TPL - (06/10/2017) -
No.A-27023/30/2016-Ad.VI (A) - (03/10/2017) -
Instruction No. 8/2017 - (29/09/2017) -
F. No. DIT(RI/DIFR/2017-18/ - (28/09/2017) -
F.No. 312/46/2017-OT - (27/09/2017) -
F.No.225/231/2017-ITA-II - (27/09/2017) -
F.No.DGIT(S)/ADG(S)-2/CASS 2017- 18/143/2017 - (27/09/2017) -
Notification No. 85/2017-Income Tax - (26/09/2017) -
