CBDT Archives - NewsTaxIndia

CBDT requests for stakeholder’s comments on draft of Notification to be issued under section 10(38)

April 4, 2017 NewsTaxIndia0 comments869 views

Central Board of Direct Taxes requests for stakeholder’s comments on draft of Notification to be issued Under Section 10(38) of the Income-tax Act, 1961 Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amendment by Finance Act, 2017, provided that the income arising by … Continue Reading →

Income Tax

CBDT requests for stakeholder’s comments on draft of Notification to be issued under section 10(38)

April 4, 2017 NewsTaxIndia0 comments891 views

Income Tax

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

February 14, 2017 NewsTaxIndia1 comments889 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 comments864 views

Income Tax

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

January 26, 2017 NewsTaxIndia0 comments807 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

CBDT Notification: No AIR Reporting for Cash Deposited upto 2.5 Lacs

November 16, 2016 NewsTaxIndia0 comments2463 views

No AIR Reporting for Cash Deposited upto 2.5 Lacs CBDT NOTIFICATION NO. 104/2016, Dated: November 15, 2016 G.S.R 1068(E). – In exercise of the powers conferred by section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct … Continue Reading →

Income Tax

CBDT Circular on Chapter VIA deduction on Enhanced Profits

November 3, 2016 NewsTaxIndia0 comments816 views

CBDT Circular on Chapter VIA deduction on Enhanced Profits Subject: Chapter VIA deduction on enhanced profits – Reg. Chapter VI-A of the Income-tax Act, 1961 (“the Act”), provides for deductions in respect of certain incomes. In computing the profits and gains of a business … Continue Reading →

Income Tax

Withholding Tax on in case of Non Residents Disallowance u/s 40(a)(i)

October 29, 2016 NewsTaxIndia0 comments789 views

Withholding of tax on “Other sum chargeable” in the case of Non Residents Disallowance u/s 40(a)(i) of the Income tax Act, CBDT Foreign Tax & Tax Research-II (FT & TR-V Division) dated 26th of October, 2015. Reference is invited to Circular No 3/2015 dated 12-02-2015 … Continue Reading →

Income Tax

Intimation u/s 143(1) for AY 2014-2015, 2013-2014 and 2012-2013 can be issued upto 31-03-2017

October 26, 2016 NewsTaxIndia0 comments185641 views

Issue of Intimation under section 143(1) of Income-tax Act, 1961 beyond the prescribed time in non-scrutiny cases-reg.- …It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 2012-2013 were not processed within the time-frame … Continue Reading →

Income Tax

CBDT Releases data of Income Tax Return for AY 2013-14 and AY 2014-15

October 26, 2016 NewsTaxIndia0 comments874 views

CBDT releases data relating to Income Tax Return Statistics for Assessment Years (AY) 2013-14 & 2014-15; Reports containing the data are available at www. incometaxindia.gov.in Central Board of Direct Taxes (CBDT) had proactively released in April, 2016 time-series data relating to direct tax collections, number … Continue Reading →