Income Tax News
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
Efiling of first appeal before CIT
30 December 2015 at 23:16Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASENew Delhi, 30th December, 2015Subject: Electronic filing of first appeal before CIT(Appeals) – reg. It is the endeavour of the Income tax Depa
TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts
30 December 2015 at 11:14Subject: TDS under section 19A of the Act on interest on fixed deposit made on directions of Court- reg Section 194A of Income Tax Act, 1961(�The Act�) stipulates deduction of tax at source (TDS) on interest other than interest on securit
Now quote PAN if cash payment is made above 2 lac
16 December 2015 at 10:49The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Ac
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