Income Tax Archives - Page 2 of 9

Income-Tax (2nd Amendment) Rules, 2017

February 14, 2017 NewsTaxIndia0 comments1787 views

Income-tax (2nd Amendment) Rules, 2017 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 9/2017/F.No. 370142/40/2016-TPL New Delhi, the 9th February, 2017 G.S.R.117(E)- In exercise of the powers conferred by section 139A and sub-section (1) of section 203A, … Continue Reading →

Income Tax

Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes

February 14, 2017 NewsTaxIndia1 comments813 views

Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes (CBDT); Over 4.19 crore Income Tax Returns (ITRs) processed and over 1.62 crore refunds issued during the Current Financial Year up to 10th February, 2017. The Centralised Processing Centre (CPC) … Continue Reading →

Income Tax

Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes

February 14, 2017 NewsTaxIndia1 comments836 views

Income Tax

Cash Transaction 2016 Frequently Asked Questions

February 11, 2017 NewsTaxIndia0 comments1264 views

Cash Transaction 2016 Frequently Asked Questions Viewing Information: Which internet browser should I use to view and file response on e-filing portal? Ans: The e-filing portal and other utilities can be best viewed on Internet Explorer 9 or above and latest version of browsers like … Continue Reading →

Income Tax

Cash Transaction 2016 Frequently Asked Questions

February 11, 2017 NewsTaxIndia0 comments1469 views

Income Tax

Now declarants can deposits cash in one or more occasions in the Pradhan Mantri Garib Kalyan Deposit Scheme

February 7, 2017 NewsTaxIndia0 comments761 views

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016; Government decides to allow declarants to make deposits on one or more occasions in the PMGKDS, 2016 The Government of India, in consultation with the Reserve Bank of India (RBI), had notified Pradhan Mantri Garib Kalyan … Continue Reading →

Income Tax

Income Tax Department launches Operation Clean Money

January 31, 2017 NewsTaxIndia0 comments903 views

Income Tax Department (ITD) launches Operation Clean Money Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the … Continue Reading →

Income Tax

Clarifications on implementation of GAAR provisions under the Income Tax

January 28, 2017 NewsTaxIndia0 comments973 views

The General Anti Avoidance Rule (GAAR provisions) shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards. The necessary procedures for application of GAAR and conditions under which it shall not apply, have been enumerated in Rules 10U to 10UC of the … Continue Reading →

Income Tax

Guiding Principles for determination of Place of Effective Management of a Company

January 26, 2017 NewsTaxIndia0 comments743 views

Guiding Principles for determination of Place of Effective Management (POEM) of a Company: CBDT Circular No. o6/2017, Dated: January 24, 2017 Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said … Continue Reading →

Income Tax

Co-operative Banks are NOT Authorised Banks under Pradhan Mantri Garib Kalyan Yojana

January 20, 2017 NewsTaxIndia0 comments822 views

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 The Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide Notification No. S.O.4061(E) dated December 16, 2016. The deposit under this Scheme … Continue Reading →