Direct Tax DRS Declaration filing date extended to 31-01-2017 regarding tax arrear or specified tax under the Direct Tax Dispute Resolution Scheme, 2016.
In view of the representations received from various stakeholders and for the convenience of the taxpayers, the last date for availing the Direct Tax Dispute Resolution Scheme, 2016 (the Scheme) has been extended up to 31st January, 2017. The scheme was to close on 31st December, 2016.
In order to reduce the pending litigation, the Scheme was introduced by the Finance Act, 2016. The Scheme came into force from 1st June, 2016 vide notification S.O. 1902(E) dated 26th May, 2016.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 29th December, 2016
Notification No. 124/2016
S.O. 4222(E).- In exercise of the powers conferred by section 202 of the Finance Act, 2016 (28 of 2016), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue), number S.O.1902(E) dated the 26th May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Subsection (ii) dated the 26th May, 2016, namely:- 2. In the said notification, for the figures, letters and words “31st day of December, 2016”, the figures, letters and words “31st day of January, 2017” shall be substituted.
[F.No.142/11/2016-TPL]
(Dr. T.S. Mapwal)
Under Secretary to the Government of India
Note:
The previous Notification No. 34/2016 is as under:
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 26th May, 2016
Notification No.34/2016
S.O.1902(E).- In exercise of the powers conferred by section 202 of the Finance Act, 2016 (28 of 2016), the Central Government hereby appoints the 31″ day of December, 2016 as the date on or before which a person may make a declaration to the designated authority in respect of tax arrear or specified tax under the Direct Tax Dispute Resolution Scheme, 2016.
[F.No.142/11/2016-TPL]
(Dr. T.5. Mapwal)
Under Secretary to the Government of India
Addition u/s 68 for jewellery purportedly received on death of grandparent under Will upheld. In a recent judgment, ITAT upheld…
Supreme Court lays down tests to determine whether a debt is a financial debt or an operational debt under IBC…
Merely because directors of two companies were common not mean that deposits received was bogus and companies were shell companies…
Application though named as rectification but if tax imposed is not legitimate then it also touches upon the merit –…
Cost of acquisition as on 01.04.1981 taken as per valuer report by reverse indexing of current FMV to be further…
ITAT directed AO to serve notice of hearing both through electronic and physical mode upon the assessee In a recent…