Income Tax News
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
Tax revenue increases by 20.8 percent during April-Nov 2016
14 January 2016 at 10:37FM: Indian economy is on path of recovery despite uncertainty and volatility in global economic situation; Government continues to adhere to the path of fiscal consolidation; Gross tax revenues of the Government increase by 20.8 per cent during April
Changes in Assessing officer performance appraisal format
09 January 2016 at 12:45The Income Tax Department is committed to the objective of timely delivery of quality taxpayer services in a fair and transparent environment. The Department has modified the Annual Performance Appraisal Report (APAR) of the Assessing Officers (Incom
644 Declarations involving Rs. 4,164 crore made under the Black Money scheme
07 January 2016 at 10:29644 Declarations involving Rs. 4,164 crore made under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 A total of 644 declarations have been made under the compliance window provided in the Black Money (Undiscl
FM calls upon IRS officers to maintain absolute standard of ethics
04 January 2016 at 10:21The Finance Minister Shri Arun Jaitley calls upon the young officers of Indian Revenue Service (Customs & Central Excise) to maintain absolute standards of ethics and 100% integrity; asks them to emulate the Gandhian principle that even in moment
Scope of scrutiny in cases selected through Computer Aided Scrutiny Selection
31 December 2015 at 10:46Instruction No. 20/2015Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New DelhiDated-29th of December, 2015Subject: Scrutiny Assessments-some important issues and scope of scrutiny in cases select
Specific requirement to be mentioned in scrutiny notice
31 December 2015 at 10:46Instruction No.19/2015Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New Delhi, dated the 29th of December, 2015ToAll Pr. Chief-Commissioners of Income-tax/Chief-Commissioners of Income-tax All Pr
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