Income Tax News

18 lakh persons identified by IT dept for online verification of cash deposits

31 January 2017 at 17:43

Income Tax Department (ITD) launches Operation Clean Money Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December

Posted in Income Tax | 18075 Views

FAQ on implementation of GAAR provisions

27 January 2017 at 19:53

Circular No. 7 of 2017F.no. 500/43/2016-FT&TR-IVGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesDate 27/01/2017 Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961 The provisi

Posted in Income Tax | 11352 Views

Guiding Principles for determination of Place of Effective Management of a company

25 January 2017 at 10:22

CBDT issues Guiding Principles for determination of Place of Effective Management (POEM) of a Company The concept of Place of Effective Management (POEM) for deciding the Residential Status of a company was introduced by the Finance Act, 2015. It is

Posted in Income Tax | 3702 Views

Amendment in Pradhan Mantri Garib Kalyan Deposit Scheme 2016

23 January 2017 at 10:46

The Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide Notification No. S.O.4061(E) dated December 16, 2016. The deposit under this Scheme shall be made by

Posted in Income Tax | 3228 Views

PAN/TAN will be compulsory for all fresh incorporation applications in SPICe

20 January 2017 at 11:03

As part of the Ministry’s efforts towards providing greater Ease of Doing Business to stakeholders, Form SPICe (INC-32) will be revised w.e.f 21 January 2017 so as to include the functionality of applying for Company PAN and first TAN (allotted

Posted in Income Tax | 1 comments | 3543 Views

Clarifications on the Taxation and Investment Regime for PMGKY 2016

19 January 2017 at 10:53

F.No.142/33/2016-TPL(Part)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated: 18th of January, 2017Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana

Posted in Income Tax | 1 comments | 2532 Views

New design of PAN card with QR code from 1st January

12 January 2017 at 15:16

NSDL e-Governance Infrastructure LimitedPAN ServicesCircularCircular No.: NSDL/TIN/12017/001January 10, 2017 Subject: New design of PAN card All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain cha

Posted in Income Tax | 10 comments | 60927 Views

Direct tax collection upto December shows 12.01% growth

11 January 2017 at 11:14

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesDirect Tax Collections up to December, 2016 show Growth of 12.01% The figures for Direct Tax collections up to December, 2016 show that revenue net of refunds is

Posted in Income Tax | 2103 Views

IT dept awarded for efiling of IT returns project

11 January 2017 at 11:14

Income Tax Department receives Silver Award for e-filing of Income Tax Returns project in the National Awards on e-Governance 2016-17. The Income Tax Department is proud to announce that it has been conferred the Silver Award in the National Awards o

Posted in Income Tax | 3 comments | 3537 Views

Tax collection figures for the period April to December 2016 show a positive trend

09 January 2017 at 18:05

Tax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015Direct Tax and Indirect tax collection figu

Posted in Income Tax | 3 comments | 2172 Views