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ASK centres to not to accept ITRs for A.Y. prior to AY 2018-19 without verifying copy of notice
ASK centres under your charge not to accept ITRs for A.Y. prior to AY 2018-19 without verifying copy of notice / order u/s 119(2)(b), 139(9), 142(1), 148, 153A & 153C and applicability of Rule 12 of I...
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No need to report clause 30C (GAAR) & 44 (GST) of Revised 3CD Report till 31.03.2019
It has been decided by the CBDT that reporting under the proposed clause 30C and proposed clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2019. Therefore, for Tax Audit Re...
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Computation of admissible deduction u/s 10A of the Income Tax Act, 1961
Computation of deduction u/s 10A of Income Tax Act, 1961Circular No. 4/2018F. No. 279/Misc./140/2015/ITJGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delh...
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Income Tax Notification No. 37/2018, Dated 08.08.2018
Central Government, in consultation with the Chief Justice of the Gauhati High Court hereby designate the Court of Munsiff No. 3 -cum-Judicial Magistrate, 1st Class, Kamrup (M), Guwahati as the Specia...
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Securities Contracts (Regulation) (Second Amendment) Rules, 2018
MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATIONNew Delhi, the 3rd August, 2018G.S.R. 738(E).—In exercise of the powers conferred by section 30 of the Securities Contracts (Regulation)...
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Only 0.35% returns picked up for scrutiny this year: CBDT chairman
Government has faith in taxpayers; only 0.35% returns picked up for scrutiny this year: CBDT chairmanIncome Tax Dept. has full information and capacity to nab tax evadersNew Delhi, August 9, 2018: The...
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Additional Charge of Member (Admn.) CBDT to CBDT Chairman
Order No. 123 of 2018 – Additional Charge of Member (Admn.) CBDT to Shri Sushil Chandra, Chairman, CBDT and additional charge of Member (IT&C) to Smt. S. Bhattasali, Member (A&J),CBDT along with zonal...
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CBDT notifies India International Exchange (IFSC) Limited U/s. 43(5)(d)
CBDT notifies India International Exchange (IFSC) Limited under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read wit...
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Securities Contracts (Regulation) (Second Amendment) Rules, 2018
MINISTRY OF FINANCE(Department of Economic Affairs)NOTIFICATIONNew Delhi, the 3rd August, 2018G.S.R. 738(E).—In exercise of the powers conferred by section 30 of the Securities Contracts (Regulation)...
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CBDT notifies NSE IFSC Limited under section 43(5)(d)
CBDT notifies NSE IFSC Limited, Gandhinagar, Gujarat under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub...
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Action on those Converting Black Money into White during Demonetization
Appropriate action by the Income-tax Department (ITD) and other Law Enforcement Agencies has been taken against those involved in the misuse of the Scheme of Demonetization.Such actions by the Income-...
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Giving-up of Indian addresses may not result in escaping scrutiny
Income Tax Notices have been issued by the Income Tax Department and the Enforcement Directorate. In respect of Income Tax Department, assesses including, non-resident assesses are served notices/summ...
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ICAI represents on Revised Form 3CD – Demands Deferment of Revised 3CD
ICAI vide its representation suggested CBDT to that changes made in Form No. 3CD be implemented from AY 2019-20 for smooth implementation and compliance. It is further suggested that the new clauses m...
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Notices for assessment/reassessment of income of old cases
Under the provisions of Income-tax Act, 1961, notices for assessment/reassessment of income of old cases of more than six years from the end of the relevant assessment year can be issued only in the f...
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ICAI represents on Revised Form 3CD
As per icai.org Direct Tax Committee of ICAI has submitted a Representation to Chairman, CBDT with suggestions on Revised Form No. 3CD, which was revised vide Notification No. 33/2018, dated 20th July...
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PIL in SC challenging withdrawal of Pending Tax Appeal Cases
Ashish Gopal Garg has challenged by way of PIL in Supreme Court Circular No. 3/2018 dated 11.07.2018 and Instruction No. F.No.390/Misc./116/2017-JC dated 11.07.2018 issued by CBDT and CBIC respectivel...
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Details of Black Money unearthed, prosecution, Search, Seizure & Surveys in last 3 Years
Income-tax Department (ITD) takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income...
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Income Tax Return Due Date extended to 31/08/2018
CBDT extends ‘due date’ for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of taxpayers who were liable to file their Returns by 31.07.2018. So in effect due date be...
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CBDT seeks details of “Least Performing” CsIT(A)
The CBDT has issued a directive to All Pr. Chief Commissioners of Income Tax seeking details of 2 least performing CsIT (Appeals). It is not specified as to what constitutes least performing.Governmen...
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Former I-T commissioner from Mumbai gets 4 years jail in bribery case
FOUR YEARS RIGOROUS IMPRISONMENT WITH FINE OF Rs.2.50 LAKH TO THEN COMMISSIONER OF INCOME TAX IN A BRIBERY CASECBI Press Release- New Delhi, 27.07.2018Four years Rigorous Imprisonment with fine of Rs....