Income Tax News

Report of the Committee on Taxation of E-Commerce

21 March 2016 at 10:37

Executive SummaryThe Committee on taxation of E-Commerce examined the tax issues arising from the new business models employed in the digital economy, in particular issues relating to tax nexus rules under existing law and tax treaties, characterizat

Posted in Income Tax | 9108 Views

Remedial action on revenue audit objections raised by CAG

18 March 2016 at 10:52

Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes Sub: Modification of Instruction No. 9/2006 dealing with remedial action on Revenue Audit Objections not accepted by the Department– reg. The guidelines

Posted in Income Tax | 2 comments | 9597 Views

Rules for Fund Manager Regime under section 9A of IT Act

17 March 2016 at 10:54

Rules in respect of fund manager regime under section 9A of the Income-tax Act, 1961-reg.Section 9A of the Income-tax Act, 1961 (the Act) provides for special taxation regime with effect from 01.04.2016 to facilitate location of fund managers of off

Posted in Income Tax | 7269 Views

TDS on payments by Television channels

09 March 2016 at 10:40

Issue of clarification on contentious TDS issues on payments made by Television channels, Broadcasters and Newspapers With a view to bring about clarity in the interpretation of certain contentious issues relating to Tax Deduction at Source (TDS) on

Posted in Income Tax | 1 comments | 12645 Views

Clarification regarding taxability of consortium members

09 March 2016 at 10:40

Taxation 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

Posted in Income Tax | 9105 Views

Tax Administration Reforms Commission

09 March 2016 at 10:40

The 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

Posted in Income Tax | 7227 Views

CBDT sets up a dedicated structure for monitoring of taxpayer services in IT dept

08 March 2016 at 11:01

CBDT 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

Posted in Income Tax | 8814 Views

CBDT clarifies various provisions of the IT Act for reducing litigation

04 March 2016 at 11:09

CBDT 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

Posted in Income Tax | 11490 Views

CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage

04 March 2016 at 11:09

CBDT 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

Posted in Income Tax | 15681 Views

Non tax receipt portal launched

16 February 2016 at 12:35

Finance 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

Posted in Income Tax | 13872 Views