Income Tax News

India and US sign agreement to promote transparency in tax matters

10 July 2015 at 10:26

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th July, 2015 Sub: United States and India Sien Agreement to Share Tax Information U.S. Ambassador to India Mr. Richard Verma and Indian Revenue S

Posted in Income Tax | 10815 Views

Procedure for claiming exemption u/s 11 for remittance to Nepal

09 July 2015 at 10:19

Standard Operating Procedure (SOP) for making application for claim of tax exemption u/s 11(1)(c) of the Income-tax Act, in respect of remittance of money/relief articles by Indian NGOs/Charitable Organisations for earthquake hit people in Nepal.Many

Posted in Income Tax | 11013 Views

Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets

06 July 2015 at 17:45

Circular No. 13 of 2015F. No. 142/18/2015-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated 6th of July, 2015Clarifications on Tax Compliance for Undisclosed Foreign Income and AssetsThe

Posted in Income Tax | 8334 Views

Notification of Black Money Rules and issue of Explanatory Circular for Compliance Window under Black Money Act

04 July 2015 at 13:32

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 (the Rules) have been notified vide notification

Posted in Income Tax | 1 comments | 13086 Views

Electronic Filing of Income Tax Returns for 2015-16 Commences

02 July 2015 at 11:16

Electronic Filing of Income Tax Returns for 2015-16 Commences; ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business; ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Bus

Posted in Income Tax | 4 comments | 18948 Views

Business relationship a CA can have with client notified by CBDT

27 June 2015 at 17:30

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II,SECTION 3, SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th June, 2015INCOME-TAXS.O. 1683(E).

Posted in Income Tax | 3 comments | 18186 Views

ITR-1, ITR-2,ITR-2A and ITR-4S notified for AY 2015-16 by CBDT

24 June 2015 at 10:51

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,SECTION 3, SUB- SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE[CENTRAL BOARD OF DIRECT TAXES]NOTIFICATIONNew Delhi, the 22nd day of June, 2015Income-taxS.O. 16

Posted in Income Tax | 33540 Views

Return filing date extended to 31st Aug from 31st July for AY 15-16

12 June 2015 at 11:24

F.No.225/154/2015/ITA.II Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, ITA.II pisionNew Delhi, the 10th June, 2015. Order under section 119 of the Income-tax Act 1961Subject:- Extension of due da

Posted in Income Tax | 7 comments | 29172 Views

Clarifications on Rollback Provisions of Advance Pricing Agreement Scheme

12 June 2015 at 11:19

Circular No. 10/2015F.No. 500/7/2015-APA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesForeign Tax and Tax Research Division-IAPA-II SectionNew Delhi, dated 10th June, 2015Subject: Clarifications on Rollbac

Posted in Income Tax | 9870 Views

Indirect tax collection increases by 37% in May 2015

11 June 2015 at 10:48

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 36,408 Crore in May 2014 to Rs. 49,993 Crore During May 2015 An Increase of 37.3 % Registered During the Month of May 2015 over the Corresponding Period in the Previous Year; Central E

Posted in Income Tax | 2 comments | 13824 Views