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CBDT cracks bogus donation racket- May take action against 243 Donors
CBDT busts Bogus donation racket under section 35(1)(ii) of Income-tax Act, 1961– Rural Development Society , Hyderabad. It raised substantial donations on the basis of forged certificates and claimed...
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Income Tax Department hits at terror financing activities in J&K Region
; Conducts sensitive search action at various place. The Head of a prominent Organisation allegedly indulging in anti-national activities along with his associates were covered in a sensitive search a...
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Link your PAN with your Bank Account- No Refund if A/c not linked
Link your PAN with your Bank Account…Get your refund directly, swiftly and securely in your bank accountIncome Tax Department will Issue only e-refunds from 01.03.2019 Refunds will be given only to ba...
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Maximizing Revenue collection is the Immediate priority: CBDT Chairman
P. C. MODYChairman, CBDT &Special Secretary to the Government of IndiaGOVERNMENT OF INDIAMinistry of Finance/Department of RevenueCentral Board of Direct TaxesNorth Block, New Delhi – 110001E-mail :ch...
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Menace of illicit deposit schemes cracked down
And the day has come when the risk to remain tight in a BUDS has become more painful…….Banning of Unregulated Deposit Scheme Ordinance, 2019 (BUDS) with effect from 21.02.2019Menace of illicit deposit...
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CBDT notifies Joint Secretary (PMAY), Ministry of Housing and Urban Affairs U/s. 138(1)(a)(ii)
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 11/2019New Delhi, the 21st February, 2019S.O. 979(E).—In pursuance of sub-clause (ii) of clause (a) of sub-sec...
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President assents Finance Act, 2019
MINISTRY OF LAW AND JUSTICE (Legislative Department)New Delhi, the 21st February, 2019/ Phalguna 2, 1940 (Saka)The following Act of Parliament received the assent of the President on the 21st February...
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Banning of Unregulated Deposit Schemes Ordinance, 2019
The Banning of Unregulated Deposit Schemes Ordinance, 2019 has been promulgated to have a central legislation to tackle the menace of illicit deposits taking activities in the country. Presently, non-...
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Issue of notice for prima facie adjustment under section 143(1)(a)
Processing of Return of AY 2017-18 and Issue of notice for prima facie adjustment under 143(1)(a) (PFA notice) ITBA-ITR Processing Instruction No. 6DIRECTORATE OF INCOME TAX (SYSTEM)ARA Center, Ground...
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Cabinet approves Banning of Unregulated Deposit Schemes Ordinance, 2019
Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of Unregulated Deposi...
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No Angel tax on issuance of shares up to Rs. 25 crore
(Read Notification) Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu has cleared a proposal aiming at simplifying the process of exemptions for Start-ups under Section 56 (2) (v...
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Message from outgoing Chairman, CBDT Sushil Chandra
SUSHIL CHANDRAChairman, CBDT &Special Secretary to the Government of IndiaGOVERNMENT OF INDIAMinistry of Finance/Department of RevenueCentral Board of Direct TaxesNorth Block, New Delhi-110001E-mail ....
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241 IRS Officers Appointed Joint Commissioners of Income-tax
CBDT has vide Office Order Nos. 26 of 2019 and 27 of 2019, dated 14th February 2019 extended the ad-hoc appointment of 241 IRS officers to the grade of Joint Commissioner of Income-taxNo.A-32012/3/201...
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241 IRS Officers Appointed Joint Commissioners of Income-tax
F.No.A.12026/4/2018-Ad.1Government of IndiaMinistry of FinanceDepartment of RevenueNew Delhi, the 15th February, 2019.OFFICE ORDER No. 38/2019The President of India is pleased to appoint Shri Pramod C...
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Properly Defend Quality Assessment Orders before CIT(A): CBDT to AOs
CBDT has issued a directive in which it has stated that With respect to such quality assessment orders, the Pr.CIT shall ensure that they are properly marked as Quality orders and are duly represented...
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I-T officer gets 7-year imprisonment; mother, 90, jailed in DA case
SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.3.5 CRORE TO THEN ADDITIONAL COMMISSIONER OF INCOME TAX IN DISPROPORTIONATE ASSETS CASE; THREE OTHER ACCUSED ALSO SENTENCEDThe Special Judge, CBI Case...
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CBDT Forms Committees on litigation management including International Good practices
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 8th February, 2019Office Memorandum Subject: Committee to examine the suggestions and the issues on l...
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Mandatory to link Aadhaar-PAN by 31.03.2019 to to file Income Tax Return
Aadhaar-PAN linking is mandatory now which has to be completed till 31.3.2019 by the PAN holders requiring filing of Income Tax Return.Constitutional validity of Aadhaar has been upheld by the Hon’ble...
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Taxation of Digital Businesses
The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges posed by the enterprises who conduct their business through digital me...
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3rd Corrigendum to Income Tax Circular No. 1/2019 Dated.01.01.2019
CORRIGENDUMDated 8th February, 2019F.No.275/192/2018-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi** ** **CORRIGENDUM TO CIRCULAR NO.1 OF 2019...