CBDT

Waging war on corruption: Modi government fires 15 more senior income tax officers

Cleaning the deadwood: This year Modi government has fired more than 60 senior tax officers on the charges of corruption.

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Modi govt signs 26 advance pricing agreements; software, BPO, engineering services sectors to benefit

Central Board of Direct Taxes: With the signing of 26 advance pricing agreements this year, the total number of APAs signed by the board stands at 297.

Income Tax Day, Tax paying, pleasurable experience, CBDT chairman, Pramod Chandra Mody, Income Tax

War on corruption: Modi govt sacks 22 more tainted tax officers

This is the third large scale sacking of tainted tax officers by the Modi government in its second term.

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PM Narendra Modi to motivate revenue officers towards achieving high standards

It is for the First time that two Revenue Boards CBDT and CBEC are holding the conference simultaneously.

No TCS on sale of cars exceeding Rs 10 lakh to govt dept: CBDT

One per cent tax collection at source (TCS) will not be levied on sale of motor vehicles of over Rs 10 lakh to government departments, distributors and dealers, the Income Tax department said today.

Diesel car ban, National Green Tribunal, pollution levels

Narendra Modi to inaugurate Revenue ‘Gyan Sangam’ on June 16 in Delhi

The two revenue collection arms of the central government--the CBDT and CBEC--will jointly hold their annual brainstorming session for the first time later this month which will be inaugurated by Prime Minister Narendra Modi.

Compliance window for domestic black money opens tomorrow

The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.

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Equalisation levy of 6 per cent to come in force from June 1: CBDT

Equalisation levy of 6 per cent on services pertaining to cross border digital transactions will come into effect from June 1.

CBDT begins consultation process with stakeholders on GAAR

"If the input relates to interpretation of a specific real world structure or arrangement, the structure should be such... (which) commonly occurs in the sector and involves clarification of general principles of application.

Ultra-rich must declare cost price of expensive assets: CBDT

People with annual income of over Rs 50 lakh will have to disclose the acquisition cost of all the assets like land, building and jewellery in the Income Tax return forms for assessment year 2016-17.

tax

CBDT eases taxation norms for bonds, debentures held by companies

Tax experts said the notification issued by the Central Board of Direct Taxes (CBDT) would facilitate mergers and acquisitions and promote investments.

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Max ‘crorepati’ agriculturists in Bangalore, Delhi and Mumbai

Metro cities like Delhi, Mumbai, Kolkata and Bengaluru have the maximum 'crorepati' entities who have declared agricultural income of over Rs 1 crore in the last nine assessment years with the Income Tax department.

Black money amnesty scheme - new IT forms

Over 40 lakh new assessees brought under Income Tax net: CBDT

Over 40 lakh new assessees have been brought within the tax net over the last year and their number is increasing every day, the CBDT has said.

income tax

Budget 2016: How FM Arun Jaitley could bolster your personal finance

The coming Union budget, which comes amid a global economic slowdown, is keenly awaited since it could give fresh direction to the economy

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Finmin alarmed at low IT collections; asks taxman to act quick

Alarm bells have rung in the Finance Ministry after net direct tax collections are showing a 35 per cent shortfall with only two months left for closing of the financial year.

CBDT to review new taxpayer centric measures, tax collection

The CBDT will hold a high-level meeting with top Income Tax department officials this week to review the on-ground implementation of some of the recent initiatives announced by the government for a taxpayer- friendly regime a

New reporting norms for high value transactions from April 1: CBDT

In order to check black money, the CBDT has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to be reported to the Income Tax authorities with effect from April 1.

CBDT releases draft POEM rules

The Central Board of Direct Taxes (CBDT) on Wednesday issued a set of draft guidelines for determining the place of effective management (POEM) of companies for taxation purpose.

Tax relief: CBDT ups monetary limit for court appeal by I-T

In order to cut down on frivolous litigation and taxpayers grievances, the Central Board of Direct Taxes (CBDT) has issued fresh directions revising the monetary threshold...

income tax department

Expedite refunds below Rs 50,000: CBDT to Income Tax department

'The field formations and the Central Processing Centre at Bengaluru have been directed to complete the process as early as possible,' the policy-making body of the tax department said in a statement today.

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CBDT takes fresh look at tax accounting standards

Heeding to industry concerns, the income tax department has decided to take a fresh look at the tax accounting standards being implemented from this fiscal, which are primarily aimed at protecting the government's tax revenue

India signs 11 more APAs to reduce tax disputes

The Central Board of Direct Taxes (CBDT) has signed 11 more advance pricing agreements (APAs) with MNCs on Tuesday, taking the total number of such deals that would spare them from rigorous tax audits under certain conditions

CBDT looks to connect with taxpayers online in smaller cases

The Central Board of Direct Taxes (CBDT) has identified non-corporate charges at five locations and 100 initial cases for e-hearing.

tax

Eyeing consistency, CBDT streamlines transfer pricing norms

Looking to streamline the taxation procedure, CBDT has issued detailed guidelines on transfer pricing cases that are expected to bring about uniformity in determining arm's length price in similar instances.

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Govt allays MNCs’ tax worries

CBDT directive calls for transfer price audits only when the revenue risk is high

Income Tax returns filing on job change: Resolving issues arising from multiple Form-16

New black money law to address industries concerns: CBDT chief

Central Board of Direct Taxes (CBDT) chairperson Anita Kapur today said that the new black money law, which is intended to be harsh, will help clear the menace that had not been able to address the problem for many years.

Era of tax avoidance to minimise liability over, warns CBDT

Addressing CII's global tax summit, CBDT Chairperson Anita Kapur also said that for companies with low profits, average tax rate is higher under the current regime of exemptions. Whereas bigger companies get the advantage of

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