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CBDT notifies Revised India -China DTAA Protocol
Protocol amending the Agreement between the Government of the Republic of India and the Government of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal E...
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Notification No. 53/2019-Income Tax, Dated: 16/07/2019
Government of IndiaMinistry of Finance(Department of Revenue)(Central Board of Direct Taxes)New Delhi, the 16th ofJuly, 2019Notification No. 53/2019-Income TaxS.O. It is hereby notified for general in...
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Scrip wise details of long term capital gains in ITR is Optional: CBDT
Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have...
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Cabinet approves amendments to Insolvency and Bankruptcy Code
In order to provide relief to money lenders, i.e., banks and financial institutions, the Union Cabinet has given green signal on long awaited amendments to the Insolvency and Bankruptcy Code. This ame...
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Committee to examine Data Structure & Modalities of upload of data for E-Assessment
DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2, Jhandewalan Extension,New Delhi – 110 055F.No. ADG(S)-5/Misc./2019-205789-5790 Dated: 17.07.2019OFFICE ORDERSubject: Constitution of C...
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CBDT transfers 122 Income Tax officers in ACIT/ DCIT Grade
CBDT Office Order No. 154 of 2019 – Transfer/Postings (Local Changes) of 122 officers in the grade of Assistant Commissioner of Income Tax (ACIT) / Deputy Commissioner of Income Tax (DCIT)F.No. A-2201...
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Desist addressing as ‘My Lord’ & ‘Your Lordship’: Rajasthan HC
RAJASTHAN HIGH COURT No.788Date- 15.07.2019NOTICETo honour the mandate of equality enshrined in the Construction of India, the full Court in its meeting dated 14.07.2019 has unanimously resolved to re...
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Functionality to Process Paper & e-filed Income Tax returns- Reg.
ITBA-ITR Processing Module- Enablement of functionality for Processing of (1) Paper Returns for A.Y. 2018-19- (2) e-filed returns pushed by CPC to Assessing Officer-regardingITR ITBA Processing Instru...
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Payment of third Installment under Income Declaration Scheme, 2016
Issues in respect of payment of third installment under the Income Declaration Scheme, 2016- clarification on certain procedural issues under section 195 of the Income Disclosure Scheme, 2016 read wit...
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Procedural & technical issues on IDS, 2016 clarified
Clarification on certain procedural and technical issues regarding the Income Disclosure Scheme, 2016 (IDS) under section 119 of the Income-tax Act, 1961 read with section 195 of the IDS -reg.F.No.225...
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No proposal to extend last date for filing Income Tax Returns: Govt
Extension of last date for filing IT returnsGovernment has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, t...
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Cabinet approves Banning of Unregulated Deposit Schemes Bill, 2019
Cabinet approves the Banning of Unregulated Deposit Schemes Bill, 201, Bill to be introduced in ensuing session of ParliamentThe Union Cabinet, chaired by the Prime Minister Narendra Modi has approved...
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Initiatives to enhance technology back bone of Income Tax Department
The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called ‘Directorate of System’ w...
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ITR 1, 2, 3, 4, 5, 6 & 7 for AY 2019-20 are available for e-Filing
Excel / Java Utility for ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 for AY 2019-20 / FY 2018-19 are available for e-Filing.Update on 08/07/2019All Income Tax Return Preparation Software for AY 2...
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CBDT notifies Chhattisgarh Building and Other Construction Workers Welfare Board for exemption U/s. 10(46)
CBDT notifies ChhattisgarhBuilding and Other Construction Workers Welfare Board for exemption U/s. 10(46) Notification No. 52/2019- Central Government notifies‘Chhattisgarh Building and Other Construc...
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CBDT notifies National Skill Development Corporation for exemption U/s. 10(46)
Notification No. 51/2019- Central Government notifies ‘National Skill Development Corporation’, a body constituted by the Central Government, in respect of the following specified income arising to th...
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Notification No. 48/2019-Income Tax Dated: 26.06.2019
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 48/2019New Delhi, the 26th of June, 2019S.O. 2195(E).—It is hereby notified for general information that the o...
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Tax proposals to promote investments in start-ups / sunrise industries
Several tax proposals aim to promote investments in start-ups and sunrise industries in the country Lower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore ins...
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Interchangeability of PAN and Aadhaar to file tax return proposed
Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 crore Interchangeability of PAN and Aadhaar to file tax return proposed...
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No scrutiny of Start-ups related to valuations of share premiums
Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share premiums E-verification mechanism proposed for establishing identity of th...