Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
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In exercise of the powers conferred by clause (23EE) of section 10 of Income-tax Act, 1961, Central Government hereby notifies Core Settlement Guarantee Fund set up by National Securities Clearing Corporation Limited (NSCCL), Mumbai, a recognised clearing corporation, for the purposes of the said clause for the assessment year 2016-17 and subsequent assessment years.
CBDT notifies Core Settlement Guarantee Fund, set up by Indian Clearing Corporation Limited (ICCL), Mumbai for the purpose of clause (23EE) of section 10 of the Income-tax Act, 1961
Application of General Anti Avoidance Rule- 10U. Chapter X-A not to apply in certain cases.—(1) The provisions of Chapter X-A shall not apply to—any income accruing or arising to, or deemed to accrue or arise to, or received or deemed to be received by, any person from transfer of investments made before the 1st day of April, 2017 by such person.
It is reiterated again that all out efforts are to be made to ensure that the targeted taxpayers are well-informed about the Scheme and are adequately guided and facilitated for filing declarations so that they can avail maximum benefits under the Scheme. which is under highest consideration of the Government during coming months.
Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 read with rule 31A(5) and rule 31AA(5) of the Income-tax Rules, 1962 respectively
It is obvious that the overall progress on disposal of grievances is unsatisfactory and that in spite of repeated instructions from the Board from time to time, a large number of grievances have not been disposed of within the prescribed timeline of 60 days from the date of their receipt.
Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest wilful defaulters of tax. In this regard, it is clarified that no such statement has been authorised by the Income-tax Department.
Central Government with respect to registration of persons, due diligence and maintenance of information, and the Central Board of Direct Taxes for matters relating to statement of reportable accounts, hereby make the following rules further to amend the Income-tax Rules, 1962, namely:-
The undersigned is directed to state that some posts of Members in the Central Board of Direct Taxes in the Department of Revenue in the pay scale of Rs. 80,000/- (Fixed) are likely to fall vacant till. 31.3.2017. The following categories of officers are eligible for appointment to these posts:
Notification No. 47/2016 No TDS deduction shall be made on payments of nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to Reserve Bank of India Act, 1934, excluding a foreign bank, or to any payment systems company authorised by RBI U/s. 4(2) of Payment and Settlement Systems Act, 2007,