Income Tax

Circular for Modification of Instruction with Fresh Guidelines and Procedures for dealing with Revenue Audit objections issued The guidelines and procedure for attending to objections raised in the co...

Analysis of draft rules for grant of Foreign Tax Credit Computation of Foreign Tax Credit (‘FTC’) in case of assessee’s with cross border tax payments has been a major hassle for tax professionals. Ab...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 18th April, 2016 Subject: Draft rules for grant of Foreign Tax Credit – reg. The In...

What is BEPS? ♥ Base erosion and profit shifting (BEPS) is a technical term referring to the negative effect of multinational companies’ tax avoidance strategies on national tax bases. BEPS can be ach...

CBDT releases draft rules for grant of Foreign Tax Credit (‘FTC’) based on a report of the Committee; FTC proposed to be available against tax, surcharge and cess but not against any interest / penalt...

e-TDS/TCS RPU version 1.5 for Statement(s) from FY 2007-08 onwards is released (13/04/2016). Key Features – Return Preparation Utility (RPU) version 1.5 Remark ‘B’ is made applicable for Section code...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11th April, 2016 Sub: Signing of Agreements with respect to Taxes between India and...

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 5/2016 New Delhi, 6th of April, 2016 Subject: Electronic Verification Code (E...

Consolidation of TDS Entries in Cases Having More Than 1000 Entries for Scrutiny Selected Cases Pertaining to Assessment Year 2013-14 Letter F.No.DGIT(S)/DIT(S)-3/AST/Scrutiny/Consolidation of TDS/99/...

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, Dated: April 4, 2016 OFFICE MEMORANDUM Subject: Review of Grievances by Senior Officers – PRAGATI...

CBI arrests ITO for for demanding & amp;accepting Rs.1.50 lakh bribe CBI ARRESTS A DEPUTY CHIEF LABOUR COMMISSIONER AND AN INCOME TAX OFFICER IN SEPARATE CASES OF BRIBERY The Central Bureau of Investi...

CBDT announces the release of electronic filing of newly notified ITRs 1 and 4S for AY 2016-17 on its website, other ITRs will be e-enabled shortly; Further, online filing of appeal before CIT(A) usin...

CBDT appoints 124 IRS officers in the grade of Asst. CIT (Junior scale) in substantive capacity; Further, appoints 169 Asst. CITs (Junior scale) as Dy. CIT (Senior Time scale)

CBDT claims FY 2015-16 as a record setting year in delivery of taxpayer services with processing of 4.14 cr tax returns, issue of refunds to the tune of over Rs. 1,17,000 cr, of which 30% issued in an...

Furnishing of Information in Respect of Payments made to the Non-Resident Section 195 of the Income-tax Act empowers the Central Board of Direct Taxes to capture information in respect of payments mad...

Press Information Bureau Government of India Ministry of Finance 04-April-2016 16:35 IST Statement by the Ministry of Finance on the story published in today’s Edition of Indian Express dated 4.4.2016...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4th April, 2016 Sub:Release of new functionality to taxpayers to secure their E-fil...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4th April, 2016 Sub: Record setting year for taxpayer services, issue of refunds by...

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4th April, 2016 Sub: Release of E-filing of Income Tax Returns (ITR) and other form...

Central Government has notified Sukanya Samriddhi Account scheme vide Notification G.S.R.863(E) Dated 02.12.2014 to secure the future of Girl Child and Scheme has got good response too from the Citize...