Income Tax News

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

23 September 2017 at 13:16

The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law.However, instances have been brought to the noti

Posted in Income Tax | 4662 Views

Form 67 enabled in efiling for claiming foreign tax credit

22 September 2017 at 10:46

DGIT(S)-ADG(S)-3/e-filing notification/form67_____ /2017 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 9 New Delhi 19th September, 2017 Procedure for filing Statement of inc

Posted in Income Tax | 1 comments | 5034 Views

New Registration process for effective communication between taxpayer and department enabled

22 September 2017 at 10:46

New Registration process to facilitate effective communication between the taxpayer and department is enabled. The existing e-Filing users are required to update their profile by logging into e-Filing account. Users who have registered already and no

Posted in Income Tax | 5 comments | 4839 Views

Voluntary reporting of estimated current income and advance tax liability

20 September 2017 at 10:18

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 19th September, 2017Voluntary reporting of estimated current income and advance tax liabilityA taxpayer who is liable to discharge part of its tax liab

Posted in Income Tax | 3 comments | 23712 Views

CBDT asked to include service charge while assessing tax

14 September 2017 at 10:37

CBDT has been asked to consider inclusion of Service Charge while assessing tax: Shri Ram Vilas Paswan Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charg

Posted in Income Tax | 4209 Views

Direct Tax Collections upto August grows by 17.5%

12 September 2017 at 10:44

Direct Tax Collections up-to August, 2017 in the current Financial Year 2017-18 show Growth of 17.5% The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net

Posted in Income Tax | 2760 Views

CBDT extends date for Linking of Aadhaar with PAN to 31st December

01 September 2017 at 11:08

CBDT extends date for (a) Linking of Aadhaar with PAN and (b) Due date for filing Income Tax Returns and Tax Audit Reports. To facilitate ease of compliance by the taxpayers, CBDT has extended the date in the following cases:-i. Aadhaar was to be lin

Posted in Income Tax | 4437 Views

Impact of Demonetisation on Black Money, Tax Base and Direct Tax Collections

01 September 2017 at 11:08

The Government of India launched a concerted drive against black money with Demonetisation being an important step in that direction. Among the main objectives of Demonetisation was the flushing out of black money and also the conversion of the non-f

Posted in Income Tax | 1 comments | 4026 Views

Audit due date extended to 31st October 2017

31 August 2017 at 21:30

F.No. 225/270/2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi dated the 31st of August, 2017 Order under Section 119 of the Income-tax Act, 1961 (`Act'

Posted in Income Tax | 20 comments | 24033 Views

Demonetization was immensely beneficial to Indian Economy says Govt

31 August 2017 at 10:52

Finance Ministry: Demonetization immensely beneficial to Indian Economy and People The Government of India decided to cancel the Legal Tender Status of Rs.1000 and Rs.500 denomination currency notes on 8th November 2016 with several objectives: (i) f

Posted in Income Tax | 4125 Views