Income Tax News

Procedure of intimating AADHAAR number to Income Tax Department

Procedure of intimating AADHAAR number to Income Tax Department

CBDT Notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act

CBDT Notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961. Rule 10CB for operationalising the provisions of secondary adjustment has been notified by the Central Board of Direct Taxes on 15th June, 2017. It prescribes the t

CBDT notifies new Safe Harbour Regime

In order to reduce transfer pricing disputes, to provide certainty to taxpayers, to align safe harbour margins with industry standards and to enlarge the scope of safe harbour transactions, the Central Board of Direct Taxes (CBDT) has notified a new

Chargeability to STT for claiming exemption

CBDT notifies transactions for which the condition of chargeability to STT for claiming exemption under Section 10(38) of the Income Tax Act, 1961 shall not apply. Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amen

CBDT extends due date of SFT filing to 30th June

Order under Section 119 of the Income Tax Act, 1961

CBDT issues clarification on furnishing SFT and SFT Preliminary Response

Central Board of Direct Taxes (CBDT) Issues Clarification on furnishing Statement of Financial Transaction (SFT) & SFT Preliminary Response Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT

Persons liable to file Statement of Financial Transaction (SFT)

IT dept steps up actions against Benami Property holders

Income Tax Department Steps-up actions under Benami Transactions (Prohibition) Amendment Act, 2016 The Income-tax Department (ITD) has initiated actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 (the Act) w.e.f. 1st November

Operation Clean money portal launched : 18 lac person identified

The Union Minister of Finance, Shri Arun Jaitley, launches Operation Clean Portal; Will enable citizen engagement for creating a tax compliant society and transparent tax administration Operation Clean Money Phase I: 18 lakh persons identified; More

Quoting of Aadhar not compulsory in IT return for resident of Assam,J&K and Meghalaya

Central Government notifies Exemption from Quoting Aadhaar / Enrolment ID to certain individual The Central Government vide notification dated 11th May, 2017 has notified that the requirement of quoting of Aadhaar / Enrolment ID shall not apply to th