the income tax Archives

CBDT Issued Certificates of Appreciation to Tax Payers

October 26, 2016 NewsTaxIndia0 comments798 views

CBDT issues second round of Certificates of Appreciation to another 10.15 lakh tax payers for their contribution towards Nation building The Union Finance Minister Shri Arun Jaitley, had personally handed-over the Certificates of Appreciation to a few individuals at North Block in the national capital … Continue Reading →

Income Tax

CBDT Committed to Strict Confidentiality Under Income Declaration Scheme 2016

October 4, 2016 NewsTaxIndia0 comments666 views

CBDT Press Release Dated 3rd October, 2016 Sub: CBDT committed to Strict Confidentiality under Income Declaration Scheme 2016 -reg While announcing the results of the Income Declaration Scheme 2016 on 1st October, 2016 at a press conference in Delhi, the Honourable Finance Minister Shri Arun … Continue Reading →

Income Tax

Income Computation and Disclosure Standards for PGBP and Other Source Income

October 3, 2016 NewsTaxIndia0 comments1051 views

The income computation and disclosure standards to be followed by all assessees (Except individual and HUF not covered u/s 44AB) who opt the mercantile system of accounting, for the purposes of computation of income chargeable to income-tax under the head “Profits and gains of business … Continue Reading →

Income Tax

Income Computation and Disclosure Standards for PGBP and Other Source Income

October 3, 2016 NewsTaxIndia0 comments854 views

Income Tax

Income Declaration Scheme 2016 unearths Rs.65250 Crore Income

October 2, 2016 NewsTaxIndia0 comments740 views

Income Declaration Scheme 2016 unearths Rs.65250 crore of hitherto Undeclared Income and Assets; 64275 declarations filed under IDS-2016 up to the midnight of 30th September, 2016 The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provided an opportunity to persons who … Continue Reading →

Income Tax

CBDT clarifies unconfirmed reports on IDS 2016

September 15, 2016 NewsTaxIndia0 comments742 views

CBDT Press Release dated 15-09-2016 on unconfirmed reports on IDS 2016 Certain sections of the press have been speculating on the taxpayer response to the currently on-going Income Disclosure Scheme 2016 over the last couple of days. The CBDT would like to clarify that these … Continue Reading →

Income Tax

CBDT clarifies that no enquiry or investigation in respect of assets declared found during the course of Search u/s 132

September 3, 2016 NewsTaxIndia0 comments678 views

The IDS’2016- CBDT clarifies that no enquiry or investigation in respect of assets /income declared which were found during the course of Search u/s 132 or Survey action u/s 133A of the Income-tax Act,1961 The Income Declaration Scheme, 2016 incorporated as Chapter IX of the … Continue Reading →