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Income Tax News


Clarification regarding threshold Limit of tax audit under section 44AB and 44AD

   22 June 2016 at 10:47

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, the 20th June, 2016Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regardingSection 44AB of the Income-tax

Posted in Income Tax  5 comments |   12339 Views


Clarification regarding News Report of Arrest of Tax Defaulters

   22 June 2016 at 10:47

Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest wilful defaulters of tax. In this regard, it is clarified that no such statement has been authorised by the Income-tax Department. Thoug

Posted in Income Tax |   3051 Views


Major take aways from Annual conference of tax administrators

   20 June 2016 at 10:41

"Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology an

Posted in Income Tax |   2646 Views


Simplification of procedure for Form 15G and 15H

   11 June 2016 at 12:00

F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-174539Government of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems)New Delhi.Notification No 1/2016 Dated: 09th June, 2016Subject: Simplification of procedure for Form No.

Posted in Income Tax |   9030 Views


Relaxation of MCA additional fees and extension of time for filing of eforms

   01 June 2016 at 10:33

Circular No. 07/2016 F.No. MCA/21/33/2016-e-Gov cell Government of India

Posted in Income Tax |   6402 Views


At 7.6% GDP growth India is the fastest growing large economy

   01 June 2016 at 10:33

India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters; Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16 The Provisional Accounts for 2015-16 have been released by

Posted in Income Tax  2 comments |   4329 Views


Equalisation levy of 6 percent will come into force from 1st June

   31 May 2016 at 10:46

S.O. 1905(E) � In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 179 of the Finance Act, 2016 (28 of 2016), the Central Government hereby makes the following rules for carrying out the provisions of Chapter V

Posted in Income Tax  1 comments |   6957 Views


CBDT- E-filing of appeals extension of time limit

   28 May 2016 at 11:11

CBDT - E-filing of appeals Extension of time limit​ PFA the enclosed attachment to view in PDF form ​ ​

Posted in Income Tax |   8271 Views


Relaxation for furnishing of UID in case of Form 15G/15H for certain quarters

   26 May 2016 at 10:26

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Posted in Income Tax  1 comments |   6405 Views


Manner of determination of fair market value

   24 May 2016 at 10:48

F No 142/26/2015-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes*******New Delhi, Dated 23rd May, 2016Subject: Manner of determination of fair market value and reporting requirement for Indian concern-Indir

Posted in Income Tax  2 comments |   4920 Views