-
Posted Date : 30-Sep-2015 , 02:51:15 pm | Posted By CASANSAAR
Tax payers seeking non deduction of tax from certain incomes are required to file a self declaration in Form No. 15G or Form No.15H as per the provisions of Section 197A of the Income-tax Act, 1961 (‘the Act’). In order to reduce the cost of compliance and ease the compliance burden for ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 1150
-
Posted Date : 29-Sep-2015 , 01:34:08 pm | Posted By CASANSAAR
After Punjab & Haryana High Court the Gujarat High Court also directs CBDT to extend the due date for Filing of ITR to October 31st in its Judgement today....
Continue Reading... Category : CBDT | Comments : 0 | Hits : 2356
-
Posted Date : 15-Sep-2015 , 09:07:45 pm | Posted By CASANSAAR
CBDT has constituted a new committee to examine the feasibility of implementing a new tax assessment system of 'industry-based jurisdiction' instead of the current system of territorial revenue collection in the country. The six-member committee, to be headed by a Principal Commissi...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 289
-
Posted Date : 09-Sep-2015 , 06:36:07 pm | Posted By CASANSAAR
No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees Including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited; Taxpayers are Advised to file the...
Continue Reading... Category : CBDT | Comments : 2 | Hits : 1562
-
Posted Date : 09-Sep-2015 , 08:35:13 am | Posted By CASANSAAR
Taking a tough stance against black money, the CBDT has directed the Income Tax department to mandatorily launch court cases against people found to be holding stash funds and tainted assets abroad and consider "compounding" of such offences only at a later stage. The apex policy-maki...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 405
-
Posted Date : 08-Sep-2015 , 08:33:40 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has issued guidelines for compounding of offences under Income Tax Act, 1961/Wealth Tax Act, 1957, in cases of persons holding undisclosed foreign bank accounts/assets. The CBDT on Friday issued directions to all field formations, including principal chief co...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 767
-
Posted Date : 04-Sep-2015 , 08:57:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has considered the queries received from the public about the tax compliance provisions under Chapter-VI of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Black Money Act’) and issued a Cir...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 680
-
Posted Date : 01-Sep-2015 , 08:28:27 am | Posted By CASANSAAR
The income-tax department has reorganised the criteria of transfer pricing cases for manual selection for scrutiny of tax returns to bring it in line with international tax practices. Transfer pricing cases where the I-T department has added at least Rs 10 crore to tax charged over the declared...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 834
-
Posted Date : 25-Aug-2015 , 07:04:47 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is “ready” to address the problem of “over-pitched” assessments by the officers of income tax department, its Chairperson Anita Kapur has said. At the same time, the CBDT also expects enterprises and their consultants to contribut...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 677
-
Posted Date : 16-Aug-2015 , 10:32:38 pm | Posted By CASANSAAR
In view of large scale cadre restructuring being effected in the Income Tax department recently, the CBDT has constituted a committee to review the existing transfer and posting policy in the organisation. The restructuring has brought about large scale changes in the jurisdiction of I-T ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 511
-
Posted Date : 13-Aug-2015 , 08:56:31 am | Posted By CASANSAAR
After reports of deficiencies in assessment orders of top corporate cases, the Central Board of Direct Taxes (CBDT) has asked its internal audit wing to take up top 100 cases under each commissioner to mandatorily audit their assessment orders every year. The Comptroller and Auditor General...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 556
-
Posted Date : 06-Aug-2015 , 10:18:58 pm | Posted By CASANSAAR
As a part of a major initiative to usher in certainty in taxation, the Central Board of Direct Taxes (CBDT) entered into two unilateral Advance Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies (MNCs) which includes the first APA with a “Rollback” provision. W...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 358
-
Posted Date : 25-Jul-2015 , 08:52:25 am | Posted By CASANSAAR
CBDT Notifies Cost Inflation Index (CII) for F.Y.2015-16 - 1081. Cost Inflation Index from 1981-82 to 2015-16. ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 1158
-
Posted Date : 14-Jul-2015 , 08:28:43 am | Posted By CASANSAAR
Disapproving of the 'casual' attitude of taxmen in filing appeals and pursuing litigation in important revenue matters, the CBDT has asked the I-T department to take legal recourse only in "deserving" cases. In a departmental communication issued early this month, the Central Bo...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 375
-
Posted Date : 25-Jun-2015 , 08:01:23 am | Posted By CASANSAAR
Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention. The taxman is empowered to undertake a scrutiny proce...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 886
-
Posted Date : 17-Jun-2015 , 01:27:04 pm | Posted By CASANSAAR
In a breather for investors, Central Board of Direct Taxes, CBDT said taxmen will not resort to coercive methods to recover dues towards Minimum Alternate Tax, MAT on capital gains made by Foreign Institutional Investors. The Board said it will wait for the Supreme Court order on the issue. CBDT Cha...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 373
-
Posted Date : 16-Jun-2015 , 08:59:38 am | Posted By CASANSAAR
CBDT transferred 240 Principal Commissioners of Income Tax. In a major reshuffle of senior Indian Revenue Service (IRS) officers across the country, the Central Board of Direct Taxes (CBDT) on Monday transferred 240 Principal Commissioners of Income Tax (PCIT). The transfer comes in the ba...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 921
-
Posted Date : 09-Jun-2015 , 07:46:02 am | Posted By CASANSAAR
CBDT Clarifies Regarding Prosecution of Tax Evaders; Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 580
-
Posted Date : 08-Jun-2015 , 08:31:34 am | Posted By CASANSAAR
Facing outstanding tax demand of Rs 8.27 lakh crore in FY16, the central board of direct taxes (CBDT) has asked its field officials to obtain details of bank accounts, debtors, and property during assessment itself to prevent any tax demand from becoming uncollectible due to inadequacy of asset...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 867
-
Posted Date : 31-May-2015 , 01:59:22 pm | Posted By CASANSAAR
More than 3 lakh cases are pending & Rs 5,82,000 crore tax amount locked in litigations. Tax disputes are one of the most taxing issues before courts today. More than 3 lakh cases are pending before various judicial authorities with Rs 5,82,000 crore tax amount locked in litigations.&nbs...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 479
-
Posted Date : 14-Apr-2015 , 08:51:36 am | Posted By CASANSAAR
The controversial retrospective amendment to tax indirect transfers of Indian assets seems to have lost its sting with the high-level panel set up to scrutinise new cases not getting even a single reference since it was created in August last year. "No case has been referred to the pan...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 431
-
Posted Date : 13-Apr-2015 , 08:50:34 am | Posted By CASANSAAR
In a major relief to investors, the rollover of mutual fund fixed maturity plans (FMPs) beyond 36 months will not attract capital gains. A tax of 20 per cent will be charged at the time of redemption of plans. The Central Board of Direct Taxes (CBDT) has issued the clarification with regards to taxa...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 798
-
Posted Date : 02-Apr-2015 , 06:54:37 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has ushered in a new framework for computation of taxable income for businesses. For this purpose, CBDT has now notified 10 income computation and disclosure standards (ICDS) that will go long way in minimising tax related disputes. These 10 ICDS &m...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 2039
-
Posted Date : 01-Apr-2015 , 08:12:55 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has given more time to taxpayers to apply for ‘roll back’ facility under the advance pricing agreements (APA). Applications for roll back facility could now be made up to June 30 this year, the CBDT said in a statement here. The CBDT had...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 421
-
Posted Date : 20-Mar-2015 , 08:29:56 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) will issue detailed guidelines to ensure that non-resident companies holding a board meeting or two in India do not get any tax demands on their global income on account of New Delhi’s newwider definition of ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 363
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
