Category: Income Tax

Penalties shall followed by prosecutions-CBDT Chairman. Action shall be taken even before filing return for huge cash deposits with unmatched past profile

Penalties shall followed by prosecutions-CBDT Chairman.  Action shall be taken even before filing return for huge cash deposits with unmatched past profile of the assessees. CBDT Chairman Shri Sushil Chandra in his latest TV interview has hinted the impending actions that are being planned by the CBDT after 30th …

New Rule 12E-ITO authorsied to issue notice u/s 143(2) for scrutiny. Move to create enough manpower to scrutinise income tax returns post 30-12-2016

New Rule 12E-ITO authorsied to issue notice u/s 143(2) for scrutiny. Move to create enough manpower to scrutinise income tax returns post 30-12-2016 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 105 /2016 New Delhi, the 16th November, 2016 G.S.R. 1073(E).—In exercise of the powers …

First ever Bilateral APA involving India and USA-USA Bilateral Competent Authority MAP/APA Meeting-Resolution of more than 100 cases under MAP

First ever Bilateral APA involving India and USA-USA Bilateral Competent Authority MAP/APA Meeting-Resolution of more than 100 cases under MAP.  Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17th November, 2016. PRESS RELEASE Sub: India–USA Bilateral Competent Authority MAP/APA Meeting …

Revised IDS-2016 declaration lower income than original due to typographical-bonafide error. PrCIT/CIT to process declaration-CBDT

Revised IDS-2016 declaration lower income than original due to typographical-bonafide error. PrCIT/CIT to process declaration. Instruction No.12 of 2016 F.No.370142/8/2016-TPL (Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** New Delhi, the 11th November, 2016 To, All Principal Chief …

Group Assessment and Peer Review System Before Assessment-Reconstitution of Committee to study the feasibility of recommendations-CBDT

Group Assessment and Peer Review System Before Assessment-Reconstitution of Committee to study the feasibility of recommendations-CBDT F. No. 225/246/2014-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi dated 15th November,  2016 OFFICE MEMORANDUM Subject: Reconstitution of Committee to study the …

Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed

Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed ABCAUS Case Law Citation: 1054 (2016) (11) HC Important Case under consideration: Sri Ramtanu Co-operative Society v. State of Maharashtra Indian Trade Promotion Organization v. Director General of …