Central Board Of Direct Taxes(cbdt)

The CBDT pointed out that the data from 2013-14 indicates that individual taxpayers are showing a positive trend of migration to a higher range of gross total income

CBDT extends due date for filing Form 10B/10BB, ITR-7 till October 31

The earlier deadline was scheduled to lapse on September 30. While Form 10B pertains to charitable institutions and religious trusts, Form 10BB is required to be filled by educational institutions and medical institutions.

Gross direct tax mop-up grows 24% to Rs 15.67 lakh crore, net collection touches 79% of revised estimates

The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore.

Dhanlaxmi Bank signs MoU with CBDT and CBIC for tax collection

The bank has been authorised by the Reserve Bank of India (RBI) based on the recommendation from the Controller General of Accounts for collection of various taxes, Dhanlaxmi Bank said in a regulatory filing.

Income Tax department rolls out new annual info statement; taxpayers can give feedback

The new AIS includes additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information.

CBDT extends due dates for electronic filing of various Income Tax forms

The tax filing due dates were extended by the CBDT in view of the difficulties being faced by taxpayers and other stakeholders in the electronic filing of these forms.

Vivad Se Vishwas scheme: Declarations can be filed even where notice of prosecution has been issued

The Central Board of Direct Taxes (CBDT) had on March 4 issued a detailed FAQ on the scheme. In a circular issued on Wednesday, the department has modified answer to a question in relation to prosecution cases with a view to "reflect the correct intent of law".

Taxman does not need to snoop into social media posts: CBDT Chairman PC Mody

The agency is empowered to get a hold of the necessary data via multiple agencies, eliminating the need to resort to such measures.

SC asks Centre for fast track courts for cases against MP, MLAs

The apex court said that inadequate infrastructure in the courts was resulting in pendency and said that Parliament should pass laws and create fast-track courts for speedy disposal of such cases against the lawmakers.

CBDT conducting massive operation against non-tax filers: Sources

CNBC-TV18 learns from sources that Central Board of Direct Taxes (CBDT) is conducting massive operation against non-tax filers.

Currency ban: I-T dept alert against doubtful cash, bullion

The Income Tax department today alerted its country-wide investigation units to keep a vigil on suspicious movements of huge cash and bullion in the wake of demonetisation of Rs 500 and Rs 1,000 currency notes by the government.

I-T dept to 'name and shame' crorepati' defaulters this fiscal

The Income Tax department, beginning this financial year, has decided to 'name and shame' all category of taxpayers who have a default of Rs one crore and above

Ultra-rich must declare cost price of expensive assets: CBDT

The luxury items to be disclosed will also include utensils, apparels and furnitures studded with precious stones and ornaments made of gold, silver, platinum or any other precious metal or alloy.

CBDT resolves Rs 5,000-cr tax dispute with foreign cos under MAP

The tax department has resolved disputes involving Rs 5,000 crore with foreign companies in sectors like software and consultancy under the MAP scheme in past two years, a development that could provide comfort to overseas investors over taxation issues.

'Infra cos can choose the yr from which they want tax benefit'

Issuing clarification, the Central Board of Direct Taxes (CBDT) said 'initial assessment year' in the Section 80IA (5) of the Income Tax Act, dealing with tax holiday, would mean the first year on which a company would claim for tax benefit.

Govt to relax compliance norms for payment to non-residents

The Finance Ministry said amendment in the Income Tax Rules have been made to "strike a balance between reducing the burden of compliance and collection of information" in case of payments made by domestic entities to non-residents.

Economy recovering, despondency on its way out: Jaitley

Jaitley, who got a slew of reform measures approved in the just-concluded Budget session of Parliament, said the focus of the Narendra Modi-led government in the second year would be increasing spending on rural infrastructure, including irrigation and social sector schemes.

CBDT on Cairn: Tax matters not covered under UK-India BIT

According to sources in the Central Board of Direct Taxes (CBDT), tax matters are not covered under UK-India bilateral Investment treaty (BIT).

MAT will become futile once tax exemptions are gone: CBDT

The Minimum Alternative Tax was originally brought into play to bring into the tax net large domestic corporate who did not pay taxes by making use of various incentive schemes.

FPI Placed At Par With FIIs For IT Purposes

FPI Placed At Par With FIIs For IT Purposes

Govt-Vodafone set for talks: Is amicable solution in sight?

The finance ministry has sent back a response to Vodafone in the tax tussle case thereby kicking off official talks on the tax dispute. A meeting is expected shortly between the revenue secretary and Central Board of Direct Taxes (CBDT) chair person with Vodafone executives and the interest waiver is likely to be the clincher in the resolution.

Telenor liable to pay taxes: CBDT tells JPC probing 2G scam

Telenor of Norway has confirmed that it has permanent establishments in India which makes it liable to pay taxes from revenue sourced from the country, the Central Board of Direct Taxes (CBDT) told the Joint Parliamentary Committee (JPC) looking into the 2G scam.