The government had in the Budget brought overseas investment in unlisted closely held companies, except DPIIT recognised startups, under the…
Leave Salary Encashment Limit Hike: The CBDT has notified the increase of the leave salary encashment limit for non-Government employees…
The Central Board of Direct Taxes apprised finance minister Nirmala Sitharaman of the development as part of a review meeting…
The search action also resulted in seizure of unaccounted cash of over Rs 3.3 crore and unaccounted gold jewellery worth…
CBDT clarification on TDS deduction for salaried employees: If an employee doesn’t intimate his/her choice of tax regime then employer…
E-verification denotes the process to verify information received from various reporting financial entities with the details filed in the income…
According to the circular, individuals who had to save on long term capital gains from specified transactions by investing in…
The Special Leave Petition against the judgment of High Court has to be filed in Supreme Court within 90 days…
Non-residents are required to submit Form 10F to claim the benefit of lower Tax Deducted at Source (TDS).
Ever since the government the faceless assessment regime started, it excluded scrutiny cases falling under the International Tax and Central…
Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta also said that the Budget for next fiscal could bring about…
What is Rule 132? Individuals with income from business or profession, who have claimed deduction of surcharge or cess in…
Some of the major changes made include making offence punishable under Section 276 of the Income Tax Act as compoundable…
CBDT Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh…
The discretion available with the competent authority has also been suitably restricted, the central board of direct taxes (CBDT) said.
Search and survey/seizure operations by the I-T department yield about Rs 5,000-6,000 crore annually, sources said. However, these have a…
Despite higher refunds, direct tax collections stood at about Rs 4.8 trillion as on August 24 of the current fiscal.
The tax department is also examining the Supreme Court ruling of Tuesday that held that the 2016 amendment to the…