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Tax proposals to promote investments in start-ups / sunrise industries
Several tax proposals aim to promote investments in start-ups and sunrise industries in the country Lower 25% corporate tax rate is to be applicable to those with annual turnover upto Rs.400 crore ins...
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Interchangeability of PAN and Aadhaar to file tax return proposed
Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 crore Interchangeability of PAN and Aadhaar to file tax return proposed...
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No scrutiny of Start-ups related to valuations of share premiums
Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share premiums E-verification mechanism proposed for establishing identity of th...
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CBDT Central Action Plan 2019-20
Central Action Plan 2019-20Central Board of Direct TaxesMinistry of FinanceGovernment of IndiaCONTENTSINTRODUCTIONKEY RESULT AREAS:CHAPTER IBUDGET COLLECTIONCHAPTER IIREDUCTION AND CASH COLLECTION OUT...
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Invitation to Submit Articles on Union Budget 2019
TAXGURU invites you to be a part of ‘BUDGET 2019 Knowledge Sharing Campaign‘. The campaign has been initiated with the intent of congregating an overview on The Union Budget 2019. This would enable pr...
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Tax on off-shore investments routed through Alternate Investment Fund
CBDT clarification on taxability of income earned by a non-resident investor from off-shore investments routed through an Alternate Investment Fund vide Circular No. 14/2019 dated 03rd July 2019.Circu...
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Important Judgment on Credit Card Interest and interest for delay by builder
INEQUITABLE AGREEMENTMy builder forced me to pay ‘Penal interest’. But, he does not pay any compensation for delayed completion. What to do?As per the agreement, if the Builder abandons the whole or p...
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CBDT Circular on anti-abuse provisions in cases of receipt of shares
CBDT CircularCentral Board of Direct Taxes had issued Circular 10/2018 dated 31.12.2018 to clarify that provisions of section 56(2)(viia) of the Income-tax Act, 1961 being anti-abuse provisions shall...
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Steps taken by Government to ensure corruption free tax administration
Corruption CasesThe complainant against the officers under the Department of Revenue received through CVC, individuals and other sources are dealt as per the existing guidelines of CVC and DOPT.(i) Th...
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Income Tax Notification No. 50/2019, Dated: 27.06.2019
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 50/2019- Income TaxNew Delhi, the 27th June, 2019S.O.2164(E).—In exercise of the powers conferred by clause (6...
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CBDT notifies ‘Karnataka Electricity Regulatory Commission’ for exemption U/s. 10(46)
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 49/2019- Income TaxNew Delhi, the 27th June, 2019S.O. 2163(E).—In exercise of the powers conferred by clause (...
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Income Tax Department continues to strike in J&K Region
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 27th June, 2019PRESS RELEASEIncome Tax Department continues to strike in J&K RegionThe Income Tax Dep...
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ITBA Functionality to Rectify ITR 1 to 6 for A.Y. 2017-18 Launched
The functionality for rectification of processing u/s 143(1) of ITR 1,2,3,4,5, & 6 for A.Y. 2017-18 is now made available in Income Tax Business Application (ITBA). ITBA- Rectification Instruction No....
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CBDT expands Terms of Reference for drafting new Direct Tax Law
to include (i) The Faceless and anonymised verification/ scrutiny/ assessment (ii) The mechanism for system based cross verification of the financial transactions (iii) Reduction in litigation and exp...
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Delay in All India Annual General Transfer orders of Income Tax Officers- Reg.
JOINT COUNCIL OF ACTION INCOME TAX EMPLOYEES FEDERATION & INCOME TAX GAZETTED OFFICERS ASSOCIATION A-2/95, Manishinath Bhawan, RajouriGarden, New Delhi-110027Joint Conveners:Rupak Sarkar8902198000itef...
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CBDT allows Angel Tax Exemption to 702 startups
DPIIT accepts applications and declarations from Startups applying for Angel Tax Exemption and on the receipt of the same DPIIT forwards these applications to CBDT. As on 21st June, 2019 a total of 94...
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Transfer & Postings of the officers in the grade of ACIT/ DCIT
Office Order No. 142 of 2019 – AGT 2019 – Transfer & Postings of the officers in the grade of Assistant Commissioner/ Deputy Commissioner of Income Tax – reg.F.No. A-22013/1/2019-Ad-VIGovernment of In...
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Income Tax Dept can share info of loan defaulters with Public Sector Banks
CBDT is of the view that sharing of information with Public Sector Banks (PSBs) in respect of assets held by defaulters of loans, so as to enable recovery of loans from such defaulters, is in public i...
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Things to know about pre-filling of ITRs and Changes in ITR Software
A. Taxpayers are requested to note the followings in connection with pre-filling of ITRs-1.Pre-filling of ITR is only for the taxpayer’s convenience. Taxpayers should verify the pre-filled data carefu...
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Income Tax Dept can share info of loan defaulters with Public Sector Banks
CBDT is of the view that sharing of information with Public Sector Banks (PSBs) in respect of assets held by defaulters of loans, so as to enable recovery of loans from such defaulters, is in public i...