Income Tax

Press Information Bureau Government of India Cabinet 22-June-2016 16:06 IST Cabinet approves Protocol amending the Agreement for avoidance of double taxation and prevention of fiscal evasion with Belg...

The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151(E)] dated 20th June 2016. In order to provide sufficient time to the reporting Financial...

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the Dated: 17th June, 2016 Notification No. 47/2016 INCOME TAX S.O. 2143(E).—In exercise of the powe...

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 46/2016 New Delhi, the 17th June, 2016 INCOME-TAX S.O. 2142(E).—In exercise of the powers conferred by sub-...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 21st June, 2016. Sub: – Clarification regarding News Report on Arrest of Tax Defaul...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 20th June, 2016 Sub: Threshold Limit of tax audit under section 44AB and sectio...

STRATEGY FOR IMPROVING ADVANCE TAX COLLECTION As per the provisional figures, during Financial Year 2015-16, advance tax contributed Rs.3,56,601 crore to the overall gross direct taxes collection of R...

TAX DEDUCTION AT SOURCE TDS is a non-obtrusive but powerful instrument to prevent tax evasion as well as to expand the tax net. TDS also minimizes tax avoidance by the taxpayer (income earners), as th...

STRATEGY TO ADD NEW TAX PAYERS Background 1. Revenue augmentation through Widening of tax base has been a constant endeavour of the Income Tax Department. Organized data collection in the department i...

STRATEGY FOR RECOVERY Since the very beginning, the focus needs to be on the reduction of Arrear Demand by de-duplication of the entries and cleansing the arrear demand data. Priority should be accord...

STRATEGY FOR APPELLATE FUNCTIONS 1. In accordance with the mandate of national litigation policy, 2010 several steps to reduce litigation have been taken by the Board, with the result, the pendency of...

CBDT Advisory to PR CCsIT / DsGIT / CCsIT, PR CsIT / CsIT and ADDL CsIT/JCsIT ADVISORY TO SUPERVISORY AUTHORITIES 1. PrCCsIT/DsGIT/CCsIT The PrCCsIT/DsGIT/CCsIT are the leaders of their respective reg...

Press Information Bureau Government of India Ministry of Finance 18-June-2016 12:05 IST “Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annua...

THREE TO FOUR YEARS RIGOROUS IMPRISONMENT TO THEN INCOME TAX OFFICER AND THREE OTHER PUBLIC SERVANTS IN SEPARATE CASES OF BRIBERY The Special Judge, Anti Corruption, Court No.3, Lucknow (Uttar Pradesh...

There are many Deductors who have filed TDS Statements for different quarters but not yet downloaded TDS Certificates (Forms 16/ 16A) from TRACES portal should download the same immediately to avoid P...

Press Information Bureau Government of India Prime Minister’s Office Date: 16th June-2016 PM addresses tax administrators at Rajasva Gyan Sangam The Prime Minister, Shri Narendra Modi, today addressed...

Press Information Bureau Government of India Ministry of Finance 15-June-2016 15:06 IST Comments and suggestions of stakeholders invited on relevant issues arising out of amendment to India-Mauritius...

In pursuance of the Budget statement, the Ministry of Corporate Affairs, Government of India after wide consultations with various stakeholders and regulators, has drawn-up a revised Road Map for comp...

Article provides Rates of Depreciation as per Income Tax Act, 1961 on Building, Plant & Machinery, Furniture & Fittings, Ships & on Intangibles Assets i.e. Know-how, patents, copyrights, trademarks, l...

CBDT Notification No. 9 dated 9th June 2016 Due-dates for quarterly uploading of Form 15G/15H declarations by payers on e-filing portal notified For FY 2016-17 onwards, 15-days deadline from the quart...