Income Tax News

Govt not to appeal Bombay HC order in Vodafone tax case

29 January 2015 at 10:50

Acceptance of the Order of the High Court of Bombay in the case of Vodafone India Services Private Limited The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the High Court of

Posted in Income Tax | 3 comments | 14961 Views

Gross Direct Tax Collections increased by 12.93%

24 January 2015 at 13:44

Gross Direct Tax Collections During April-December of the Financial Year 2014-15 is up by 12.93 Percent and Stood at Rs. 5,46,661 Crore as Against Rs. 4,84,063 Crore in the same period last year Gross direct tax collection during April-December of t

Posted in Income Tax | 5 comments | 14559 Views

Application for empanelment of Standing counsels

22 January 2015 at 10:44

Application for empanelment of Standing counsels Detailed information has been attached herewith

Posted in Income Tax | 15276 Views

Guidelines for Compounding of Offences under Direct Tax Laws, 2014

14 January 2015 at 10:47

Guidelines for Compounding- FNo285-35-2013-IT-Inv-V-108 Annexure-1Guidelines for Compounding- FNo285-35-2013-IT-Inv-V-108 Annexure-2-3 and AGuidelines for Compounding- Letter 17396 dt 6-1-15Guidelines for Compounding- Letter FNo. 285-35-2013-109 Deta

Posted in Income Tax | 13425 Views

No processing of return for refund if case is selected for scrutiny

14 January 2015 at 10:47

Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961 Detailed information has been attached herewith

Posted in Income Tax | 17121 Views

Income-tax (Dispute Resolution Panel) (First Amendment) Rules, 2014 - Amendment in rule 3

13 January 2015 at 18:05

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 31st December, 2014INCOME-TAXS.O. 3324(E).In exercise of the powers conferred by sub-section (14) of Section 144C of the Income-tax Act, 1961(4

Posted in Income Tax | 13944 Views

New draft of twelve Income computation and Disclosure standards

10 January 2015 at 11:09

New Draft of Twelve Income Computation and Disclosure Standards (ICDS) has been Uploaded on the Finance Ministry and Income-Tax Department Website for Seeking Comments from Stakeholders and General Public by 8th February, 2015 Sub- se

Posted in Income Tax | 18168 Views

Action to be taken by ICAI against members signing TAR more than prescribed limit

29 December 2014 at 17:56

Attention has been drawn to certain issues raised on the certification work done by the members of the profession in the report of Comptroller and Auditor General of India (C&AG) entitled Appreciation of Third Party (Chartered Accountant)

Posted in Income Tax | 5 comments | 34221 Views

Admissions of Undisclosed Income under coercion / pressure during Search / Survey

22 December 2014 at 10:29

Admissions of Undisclosed Income under coercion/pressure during Search/Survey Detailed information has been attached herewith

Posted in Income Tax | 17541 Views

Percentage of Govt Grant for considering university, hospital as substantially financed by the Government

17 December 2014 at 10:19

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SEC. 3, SUBSECTION(ii)]MINISTRY OF FINANCEDEPARTMENT OF REVENUE(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONINCOME-TAXNew Delhi, the 12th December, 2014 S.O. 3168 (E). In exercis

Posted in Income Tax | 13878 Views