Income Tax News

Lok Sabha passes the Finance Bill,2016

06 May 2016 at 12:04

Lok Sabha passes the Finance Bill,2016 Please refer to the attached file for details

Posted in Income Tax | 5220 Views

Income arising from unlisted shares taxable under capital gains

06 May 2016 at 10:49

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 5th May, 2016Subject: Taxability of Income/Loss arising from Transfer of Unlisted Shares-reg.CBDT, vide order dated 2nd May, 2016 has given direction t

Posted in Income Tax | 4344 Views

Reward of Rs 15 lac for informer of tax evasion

30 April 2016 at 15:44

Guidelines for Grant of Rewards to Informers of Tax Evasion The details with regard to guidelines in respect of rewards to informers of tax evasion are: Direct Taxes:- Any person who provides specific information with respect to evasion of direct ta

Posted in Income Tax | 6 comments | 18984 Views

CBDT releases detailed direct taxes data

29 April 2016 at 11:40

CBDT releases Direct Taxes DataPFA the enclosed attachment to view the detailed data on the following aspects as mentioned below:- Income Tax Department Time Series Data Financial Year 2000-01 to 2014-15 Income Tax Department PAN Allotment Statistics

Posted in Income Tax | 10974 Views

Govt invites suggestion on MAT framework for computation of book profit

29 April 2016 at 11:40

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 28th April, 2016Subject: Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for

Posted in Income Tax | 6486 Views

CBDT will pay interest on refund for excess TDS deposited

28 April 2016 at 11:14

Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income-tax Act, 1961

Posted in Income Tax | 1 comments | 12504 Views

Draft rules for foreign tax credit

19 April 2016 at 15:14

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesSubject: Draft rules for grant of Foreign Tax Credit – reg.The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe

Posted in Income Tax | 10032 Views

Advisory for TDS on purchase of immovable property

07 April 2016 at 11:01

CPC(TDS) Advisory for Deposit of Tax deducted and Demand for TDS Defaults with respect to Purchase of Immovable Property (26QB Statement-cum-challan)

Posted in Income Tax | 1 comments | 16272 Views

Tax revenue increases to 14.6 lac crore in 2015-16

07 April 2016 at 11:01

Government achieves the Tax Revenue Targets for FY 2015-16; Actual collections of Direct & Indirect Tax Revenues in FY 2015-16 is Rs. 14.60 Lakh Crore as against Revised Target (RE) of Rs. 14.55 Lakh crore The aggregate Budget Estimates (BE) for

Posted in Income Tax | 5 comments | 7869 Views

Record setting year for taxpayer services - 4.14 crore return processed by CPC

05 April 2016 at 11:33

CBDT achieves record setting Year in Delivery of Taxpayer Services; CPC Bengaluru processed more than 4.14 crore Income Tax returns, an increase of over 35% over the previous year; CPC also issued over 1.61 crore refunds above Rs 100 to taxpayers, an

Posted in Income Tax | 3 comments | 7899 Views