Income Tax News

Govt reiterates information shared under IDS will not be shared with any authority

16 September 2016 at 10:49

Government reiterates that information contained in a valid declaration under the Income Declaration Scheme, 2016 is confidential and shall not be shared with any authority. The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to

Posted in Income Tax | 2400 Views

Further instruction regarding Income Declaration Scheme

16 September 2016 at 10:49

Instruction No. 8 of 2016F.No.142/8/2016-TPLGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)***New Delhi, the 15th September, 2016To,All The Principal Chief Commissioners of Income-taxSub.: The Income Declara

Posted in Income Tax | 3717 Views

Direct Tax Dispute Resolution Scheme can be availed upto 31st Dec

16 September 2016 at 10:31

Litigation is a scourge for a tax friendly regime. In order to reduce the pending litigation, the Direct Tax Dispute Resolution Scheme, 2016 (the Scheme) has come into force from 1st June, 2016 and can be availed up to 31st December, 2016. The Scheme

Posted in Income Tax | 2922 Views

CBDT clarifies due date extension also applicable to Accounts audited under sec 44AB

15 September 2016 at 10:52

F. No. 225/195/2016-ITA IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes North Block, New DelhiDated the 14th of September, 2016 Clarification req. u/s 119 of the Income-tax Act, 1961 dated 9th September 2016

Posted in Income Tax | 2 comments | 8271 Views

Clarifications on the Direct Tax Dispute Resolution Scheme, 2016

13 September 2016 at 11:07

F.No.142/11/2016-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated: 12th September, 2016Clarifications on the Direct Tax Dispute Resolution Scheme, 2016The Direct Tax Dispute Resolution

Posted in Income Tax | 4104 Views

Direct and indirect tax collection increases by 15.03% and 27.5%

13 September 2016 at 11:07

Direct Tax Collections up to August, 2016 show an Increase of 15.03% over the net collections for the corresponding period last year; Till August 2016, 22.30% of the Budget Estimates of direct taxes for Financial Year 2016-17 has been achieved. The f

Posted in Income Tax | 2691 Views

Due date for filing ITR extended to 17th Oct from 30th Sep

09 September 2016 at 20:14

Due date for filing of Income tax returns by tax payers whose accounts are required to be audited under IT Act has been extended to 17th Oct F.No.225/195/2016-1TA-II Government of India Ministry of FinanceDepartment of RevenueCentral Board of Direct

Posted in Income Tax | 23 comments | 26253 Views

Further clarification issued for Income Declaration Scheme

06 September 2016 at 10:25

Income Declaration Scheme 2016 – Government issues Clarifications in the form of Sixth Set of Frequently Asked Questions (FAQs) The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in

Posted in Income Tax | 4374 Views

Extension of due date for quarterly furnishing of 15G and 15H declaration

01 September 2016 at 10:39

Extension of due date for quarterly furnishing of 15G and 15H declaration PFA the attachment for more details

Posted in Income Tax | 1 comments | 7050 Views

CBDT signs 20 Unilateral Advance Pricing Agreements with Indian taxpayers

31 August 2016 at 17:02

The Central Board of Direct Taxes (CBDT) entered into twenty (20) Unilateral Advance Pricing Agreements (APAs) yesterday and today, i.e., 29th August, 2016 and 30th August, 2016, with Indian taxpayers. Many of these agreements also have a “Roll

Posted in Income Tax | 3387 Views