Ministry of Finance CBDT invites comments on draft notification proposing amendment to Rule 44E, Form 34C, 34D and 34DA as per BEPS Action 5, for improving transparency in tax rulings Posted On: 14 APR 2018 10:45AM by PIB Delhi Under Base Erosion and Profit Shifting (BEPS) Action 5, exchange of rulings on Permanent Establishment (PE)… Read More »
Ministry of Finance The Government of India, in consultation with the Reserve Bank of India, decides to issue Sovereign Gold Bond, 2018-19-Series-I; Applications for the Bond(s) will be accepted from 16th to 20th April, 2018; The Certificate of Bond (s) to be issued on May 04, 2018; The Bonds to be sold through banks, Stock… Read More »
SECTION 143 OF THE INCOME-TAX ACT, 1961 – ASSESSMENT – GENERAL – PROCESSING OF RETURNS UNDER SECTION 143(1) WHICH ARE PUSHED TO ASSESSING OFFICERS BY CPC LETTER NO.F.NO.225/53/2018/ITA.II], DATED 28-3-2018 Section 143(1D) of the Income-tax Act, 1961 (Act) was brought in the statute from 1-7-2012 which provided that processing of the returns shall not be necessary… Read More »
Ministry of Finance Clarification regarding applicability of standard deduction to pension received from the former employer Posted On: 05 APR 2018 1:55PM by PIB Delhi The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable under the head “Salaries”. The Finance Act, 2018… Read More »
Ministry of Finance CBDT notifies Income Tax Return Forms for Assessment Year 2018-19 Posted On: 05 APR 2018 7:47PM by PIB Delhi The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative… Read More »
Ministry of Finance Provisional Direct Tax Collections and Number of Income Tax Returns filed for F.Y. 2017-2018 Posted On: 02 APR 2018 6:11PM by PIB Delhi The provisional figures of Direct Tax collections for FY 2017-18 show that net collections are at Rs.9.95 lakh crore which is 17.1% higher than the net collections for FY… Read More »
The Central Board of Direct Taxes (CBDT) has extended the last date for linking of Aadhaar with PAN from March 31, 2018 to June 30, 2018. This is the 3rd time, CBDT has extended the due date for linking Aadhaar number with PAN. F. No.225/270/2017 /ITA.II Government of India Ministry of Finance Department of Revenue… Read More »
Income-tax offices to remain open on 29th, 30th and 31st March, 2018 to facilitate filing of belated ITR F. No. 225/270/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 26th March, 2018 Order under Section 119(1) of the Income Tax Act, 1961 The last date for… Read More »
Twitter from Income Tax Department on 23.03.2018 :- CBDT issues clarification reg requirement for furnishing of Country-by-Country (CbC) reporting u/s 286(4) of the IT Act,1961. It is clarified that due dt of 31st March,2018 applies for furnishing of CbC report for constituent entities of international groups u/s 286(2) only & not u/s 286(4) of IT… Read More »
Ministry of Finance Cabinet approves revision of the Agreement between India and Qatar for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income Posted On: 21 MAR 2018 8:29PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval… Read More »