The GAAR (General Anti-Avoidance Rule) provisions have not been put on hold. The Finance Act, 2012 had provided that these provisions shall be effective from the 1st day of April, 2014 and apply to Assessment year 2014-15 onwards. One of the rec
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY, DATED THE 23rd Government of India November, 2012] Ministry of Finance Department of Revenue Notification New Delhi, the 23rd (Income-tax) November
Instances of alleged corruption for settlement of refund claims and complaints come to notice from time to time. Whenever any such instance or complaints comes to notice, the same is verified and if it is found to be correct, the concerned officer
The Income tax Department conducts search and seizure operations based on the credible companies, association of ‘persons’ which includes individuals, hindu undivided families (HUFs), firms, companies, association of persons (AoPs), bo
Hon’ble Finance Minister compliments the Income Tax Department during CPC, Bangalore visit. "I am greatly impressed by what has been created and put in place at the CPC. The CPC represents a technological leap for the I.T. Department. U
With a view to provide clarity on contentious legal issues, promote consistency of approach on a given issue and reduce litigation, the following institutional mechanism to formulate ‘Departmental View’ on contentious legal issues has
A workshop on the proposed "National Judicial Reference System” will be held on 23rd Nov 2012, 10:30AM in the office of the Directorate of Income Tax (Legal & Research) at 15th Floor Hindustan Times Building, Kasturba Gandhi Marg, N
Direct Tax Collections of Rs.2,65,417 crore have been made till 15th November,2012 during the current Financial Year 2012-13. It is expected that the total Direct Tax Collections for F.Y. 2012-13 will exceed the collection for F.Y. 2011-12. The
The following steps are being taken by the Ministry to mobilize resources to increase tax collection in order to reduce fiscal deficit:- (A) Direct Taxes: (i) Monitoring of Advance Tax payment especially by top tax
Gross direct tax collections during April-October of the Financial Year 2012-13 was up by 6.59 percent and stood at Rs. 3,02,810 crore as against Rs. 2,84,081 crore in the same period last year. Net direct tax collections was up by 14.63 percent a
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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