Income Tax Notifications

7 Day ITR / TAR Due date extension at Last Moment- What a Shame

Income Tax - CBDT has extended Due date for filing ITRs & Tax Audit Reports under Income Tax Act,1961  from 30.09.2017 to 07.11.2017 for those who were liable to file ITRs by 30.09.17. The Extension was first announced on Twitter at 10.21 PM on 31.10.2017 and later by way of press release on pib.nic.in at 11.35 PM. Further […]...

Read More

Modus operandi adopted by tax evaders during demonetisation

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 More

Direct and Indirect tax updates for 16st March to 31st March 2017

Income 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 More

Direct and Indirect tax updates for 1st March to 15th March 2017

Income 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 More

CBDT instructs to maintain confidentiality of IDS, 2016 declarants

Income 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 More

Draft Notification U/s. 115JG (1) on conversion of Indian Branch of Foreign Bank into Indian Subsidiary company

Income Tax - Draft of Proposed Notification under Section 115JG (1) of the Income-tax Act, 1961 issued in respect of conversion of Indian Branch of Foreign Bank into Indian Subsidiary company; Comments/suggestions of Stakeholders sought on Draft Notification by 30th November, 2017....

Read More

CBDT invite suggestions on reducing litigation in all appellate forums

Income Tax - The Central Board of Direct Taxes vide Office Order F.No.279/Misc/M-51/2017- 111 dated 12th July, 2017 has constituted a Committee to prepare a Concept Note to revamp the existing appeal mechanism with a view to urgently address the issue of reducing litigation considering the pendency of litigation in all appellate forums....

Read More

ITD celebrates 157th Income Tax Day on 24th July 2017

Income 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 More

ITAT releases Draft Income Tax Appellate Tribunal Rules, 2017

Income 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 More

Request for comments on Draft ICDS on Real Estate Transactions

Income 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 More

Once data stored in electronic form, it becomes a customized electronic data which can be exported to qualify for deduction u/s 10A

ITO 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 More

CBDT extends date for linking of Aadhaar with PAN

F.No.225/270/2017/ITA.II - (08/12/2017) - Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link the same with Permanent Account Number (PAN)....

Read More

Step up collections from arrear & current Recovery surveys: CBDT to Officers

F. No.: 385/17/2016-IT(B) - (06/12/2017) - Take all measures to step up collections from arrear and current Recovery surveys should be carried out in a large number of suitable cases after due diligence. The powers of attachment and sale of moveable property should be invoked to effect recoveries where regular measures to recover the demand ...

Read More

Unauthorized expansion of scope of limited scrutiny- CBDT suspends officers

F.No. DGIT(Vig.)/HQ/SI/2017-18 - (30/11/2017) - It was found that no reasons had been recorded for expanding the scope of limited scrutiny, no approval was taken from the PCIT for conversion of the limited scrutiny case to a complete scrutiny case and the order sheet was maintained very perfunctorily. This gave rise to a very strong suspicion of ...

Read More

Scrutiny assessments of revised/belated returns post-demonetisation

F. No. 225/391/2017/ITA.II - (24/11/2017) - In case of a belated return, it would be crucial to examine the trend and business practices of a particular assessee while ascertaining the legitimacy of the transactions disclosed in a belated return, filed post-demonetisation....

Read More

List of cases in which insolvency/liquidation proceedings started under IBC-2016

F. No Addl DIT(R)/BIFR/2017-1818/1062 - (23/11/2017) - The region wise jurisdiction of corporate cases updated on the website of Insolvency and Bankruptcy Board of India (www ibbi.gov in) from 01-11-2017 till 20-11-2017 has been ascertained from the CBN query in AIS module available in ITD and is enclosed herewith in Annexure-1 for necessary action at t...

Read More

Recent Posts in "Income Tax Notifications"

CBDT extends date for linking of Aadhaar with PAN

F.No.225/270/2017/ITA.II (08/12/2017)

Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link the same with Permanent Account Number (PAN)....

Read More

Step up collections from arrear & current Recovery surveys: CBDT to Officers

F. No.: 385/17/2016-IT(B) (06/12/2017)

Take all measures to step up collections from arrear and current Recovery surveys should be carried out in a large number of suitable cases after due diligence. The powers of attachment and sale of moveable property should be invoked to effect recoveries where regular measures to recover the demand have not been successful. ...

Read More

Unauthorized expansion of scope of limited scrutiny- CBDT suspends officers

F.No. DGIT(Vig.)/HQ/SI/2017-18 (30/11/2017)

It was found that no reasons had been recorded for expanding the scope of limited scrutiny, no approval was taken from the PCIT for conversion of the limited scrutiny case to a complete scrutiny case and the order sheet was maintained very perfunctorily. This gave rise to a very strong suspicion of mala fide intentions. The Officer concer...

Read More

Scrutiny assessments of revised/belated returns post-demonetisation

F. No. 225/391/2017/ITA.II (24/11/2017)

In case of a belated return, it would be crucial to examine the trend and business practices of a particular assessee while ascertaining the legitimacy of the transactions disclosed in a belated return, filed post-demonetisation....

Read More

List of cases in which insolvency/liquidation proceedings started under IBC-2016

F. No Addl DIT(R)/BIFR/2017-1818/1062 (23/11/2017)

The region wise jurisdiction of corporate cases updated on the website of Insolvency and Bankruptcy Board of India (www ibbi.gov in) from 01-11-2017 till 20-11-2017 has been ascertained from the CBN query in AIS module available in ITD and is enclosed herewith in Annexure-1 for necessary action at the end of the Assessing Officers...

Read More

Order No. 204/2017: Proforma promotion of officers to Principal CIT grade

Order No. 204 of 2017 (21/11/2017)

In continuation to this Department's Order No. 137 of 2017 dated 16.08.2017 and Order No. 181 of 2017 dated 24.10.2017, the President is pleased to grant Proforma Promotion to the following Commissioners of Income Tax...

Read More

Draft Notification U/s. 115JG (1) on conversion of Indian Branch of Foreign Bank into Indian Subsidiary company

Draft of Proposed Notification under Section 115JG (1) of the Income-tax Act, 1961 issued in respect of conversion of Indian Branch of Foreign Bank into Indian Subsidiary company; Comments/suggestions of Stakeholders sought on Draft Notification by 30th November, 2017....

Read More
Posted Under: Income Tax |

Order No. 201/2017- Transfer & Posting in the Grade of ACIT/JCIT

Order No. 201 of 2017 (16/11/2017)

Order No. 201 of 2017 The following postings / transfers in the grade of Additional Commissioner Income Tax/ Joint Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

Read More

Order No. 200/2017: Transfer & Posting in ACIT/DCIT Grade

Order No. 200 of 2017 (16/11/2017)

Order No. 200 of 2017 The following postings / transfers in the grade of Assistant / Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

Read More

Notice u/s 142(1) in cases related to substantial cash deposit during demonetisation: SOP

F.No. 225/363/2017-ITA.II (15/11/2017)

On the basis of data analytics and information gathered during the first phase of online verification under 'Operation Clean Money', a list of assessees who had deposited substantial Cash in bank account(s) during the demonetisation period (8th November, 2016 to 30th December, 2016) but have not yet filed Income-tax return for Assessment ...

Read More
Page 1 of 96212345...102030...Last »

Browse All Categories

CA, CS, CMA (3,533)
Company Law (3,482)
Custom Duty (6,692)
DGFT (3,522)
Excise Duty (4,055)
Fema / RBI (3,301)
Finance (3,516)
Income Tax (25,475)
SEBI (2,763)
Service Tax (3,289)