Income Tax News
Clarification regarding taxability of consortium members
09 March 2016 at 10:40Taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects has been a subject matter of dispute between Income-tax Department and the consortium. This has been particularly so
Tax Administration Reforms Commission
09 March 2016 at 10:40The Government has received the Report of Tax Administration Reforms Commission (TARC) headed by Dr. Parthsarathi Shome. The Report has four volumes containing a number of tax administration reforms. The broad recommendations inter-alia include chang
CBDT sets up a dedicated structure for monitoring of taxpayer services in IT dept
08 March 2016 at 11:01CBDT sets-up a Dedicated Structure for delivery and monitoring of Tax Payer Services in the Income Tax Department Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax De
CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage
04 March 2016 at 11:09CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of
CBDT clarifies various provisions of the IT Act for reducing litigation
04 March 2016 at 11:09CBDT clarifies various provisions of the Income-tax Act for reducing litigation and easing burden of compliance The Central Board of Direct Taxes (CBDT) has taken a number of decisions to clarify the applicability of various provisions of the Incom
Non tax receipt portal launched
16 February 2016 at 12:35Finance Minister Shri Arun Jaitley inaugurates the Non-Tax Receipt Portal (NTRP); Portal provides a one-stop platform to citizens/corporates/other users for making online payment of Non-Tax Receipts to Government of India;At the launch today, NTPC re
Direct tax and indirect shows healthy growth of 10.9 and 33.7 percent
11 February 2016 at 10:52Direct and Indirect Tax collections together expected to meet the target of Revenue collections for the Current Financial Year 2015-16 without any shortfall; Latest tax collections figures up to 31st January,2016 indicate healthy growth of 33.7% in I
Steps taken by Income Tax Department for safeguarding taxpayers from Phishing emails
08 February 2016 at 10:51The Income Tax Department has been at the forefront of using technology in implementing its –e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and aler
CBDT signs 7 Unilateral Advance pricing agreements
23 January 2016 at 13:35Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Sub: Signing of 7 unilateral Advance Pricing Agreements on 22 January 2016-regardingThe Central Board of Direct Taxes (CBDT) entered into 7 more unilateral Advan
Initiatives for reducing litigation
22 January 2016 at 10:33Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 15th January, 2016Subject: Initiatives for reducing litigation- regarding.Reducing litigation with the taxpayers has been a key focus area
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