Income Tax News


Amendment in Rule 114H of Income-tax Rules, 1962

 23 June 2016 at 10:45

The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151(E)] dated 20th June 2016. In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence pro

Posted in Income Tax |   5337 Views


Clarification regarding threshold Limit of tax audit under section 44AB and 44AD

 22 June 2016 at 10:47

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, the 20th June, 2016Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regardingSection 44AB of the Income-tax

Posted in Income Tax |   5 comments |   12417 Views


Clarification regarding News Report of Arrest of Tax Defaulters

 22 June 2016 at 10:47

Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest wilful defaulters of tax. In this regard, it is clarified that no such statement has been authorised by the Income-tax Department. Thoug

Posted in Income Tax |   3153 Views


Major take aways from Annual conference of tax administrators

 20 June 2016 at 10:41

"Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology an

Posted in Income Tax |   2739 Views


Simplification of procedure for Form 15G and 15H

 11 June 2016 at 12:00

F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-174539Government of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems)New Delhi.Notification No 1/2016 Dated: 09th June, 2016Subject: Simplification of procedure for Form No.

Posted in Income Tax |   9141 Views


Relaxation of MCA additional fees and extension of time for filing of eforms

 01 June 2016 at 10:33

Circular No. 07/2016 F.No. MCA/21/33/2016-e-Gov cell Government of India

Posted in Income Tax |   6483 Views


At 7.6% GDP growth India is the fastest growing large economy

 01 June 2016 at 10:33

India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters; Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16 The Provisional Accounts for 2015-16 have been released by

Posted in Income Tax |   2 comments |   4551 Views


Equalisation levy of 6 percent will come into force from 1st June

 31 May 2016 at 10:46

S.O. 1905(E) � In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 179 of the Finance Act, 2016 (28 of 2016), the Central Government hereby makes the following rules for carrying out the provisions of Chapter V

Posted in Income Tax |   1 comments |   7026 Views


CBDT- E-filing of appeals extension of time limit

 28 May 2016 at 11:11

CBDT - E-filing of appeals Extension of time limit​ PFA the enclosed attachment to view in PDF form ​ ​

Posted in Income Tax |   8361 Views


Relaxation for furnishing of UID in case of Form 15G/15H for certain quarters

 26 May 2016 at 10:26

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Posted in Income Tax |   1 comments |   6519 Views



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