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FM withdraws proposal to tax EPF/Superannuation Fund
In View of pressure from all quarters Finance Mister Arun Jaitley has withdrawn the Proposal to Tax 60% of EPF/Superannuation Fund Proposed in Union Budget 2016 and which was to come into effect from...
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3 CBDT Circular to reduce litigation & easing compliance burden
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd March, 2016 Sub: Decision’s of CBDT clarifying various provisions of the Income...
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Revised guidelines for stay of demand at first appeal stage
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd March, 2016 Subject: Issue of revised guidelines for stay of demand at the firs...
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CBI arrests ITO and CA in bribery case
CBI ARRESTS AN INCOME TAX OFFICER AND A CHARTERED ACCOUNTANT IN AN ALLEGED BRIBERY CASE OF RS. 3.5 LAKH The Central Bureau of Investigation has arrested an Income Tax Officer, Ward 58(3), D Block, Vik...
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DTAA with Maldives to stop double taxation on International air transport income
Press Information Bureau Government of India Ministry of Finance 24-February-2016 19:18 IST Agreement between India and Maldives for avoidance of double taxation of income from International air trans...
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CBDT resolves disputes to the tune of Rs 5000 crore
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 16 February, 2016 Sub: CBDT resolves disputes to the tune of Rs 5000 crore under Mu...
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Electronic Assessment - An overview
Electronic Assessment – Practical aspects Background a) CBDT vide its notification 2/2016 dated 3-Feb-2016 has prescribed Procedure, Formats and Standards for ensuring secured transmission of electron...
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Recommendations of Companies Law Committee for Small / Private Limited Companies
As we are aware that on 1st February 2016, Ministry of Corporate Affairs uploaded the report of Companies Law Committee on its website. In this post, we will discuss recommendations of the committee r...
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IT Official arrested by CBI in graft case
CBI ARRESTS A DEPUTY COMMISSIONER OF INCOME TAX AND A PRIVATE PERSON IN A BRIBERY CASE OF RS. TWO LAKH. The Central Bureau of Investigation, has arrested a Deputy Commissioner, Income Tax, Sirsa (Hary...
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Disposal of Public Grievances on priority: CBDT
GOVERNMENT OF INDIA Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic.in D.O. F. No. Dir .(Hqrs.) / Ch.(DT) /39(2) /2015/9...
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Steps taken by Income Tax Department for safeguarding taxpayers from Phishing email – regarding
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 5th February, 2016 Sub:– Steps taken by Income Tax Department for safeguarding taxp...
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Procedure, Formats and Standards for ensuring secured transmission of electronic communication to taxpayer
DGIT(S)/DIT(S)-3/AST/Paperless Assessment Proceedings/96/2015-1 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 2/2016 New De...
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Union Budget 2016 will be presented on February 29
The Budget Session of Parliament will commence on February 23 that will focus largely on the financial business of the government, which will present the general budget on February 29. The budget sess...
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New Procedure for Adjustment of demand against Income Tax Refund
F. No. 312/109/2015-OT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Room No. 281, Hotel Samrat Kautilya Marg, Chanakya Puri New Delhi – 110021 Telefax :...
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Signing of bilateral Advance Pricing Agreements with United Kingdom
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 1st February, 2016 Sub: Signing of bilateral Advance Pricing Agreements (APAs) with...
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Signing of Protocol amending India-Armenia Double Taxation Avoidance Convention
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 27th January, 2016 Subject: Signing of Protocol amending the India-Armenia Double T...
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Resolution of more than 100 cases of transfer pricing disputes with USA under MAP-regarding
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 28th January, 2016 Sub: Resolution of more than 100 cases of transfer pricing dispu...
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Scrutiny Through Selection of Cases On the Basic of AIR
We all are aware about the Scrutiny Proceedings in the case of ITR which is usually a trauma for each and every person. Now-a-days, CBDT has given instructions to select the cases for scrutiny on the...
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Norms for empanelment of Statutory Central Auditors in PSU Banks for 2016-17 & onwards
Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks from the year 2016-17 and onwards (i) The audit firm shall have a minimum of 7 full time chartered...
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Income Tax e-Filing DSC management utility
Taxpayers have recently faced problems in using the Digital Signature Certificate for Signing through browser at the time of uploading their Income Tax Return. This is because the latest browser versi...