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CBDT Circulars

P&H HC upholds Transfer of Assessment From Chandigarh to Goa u/s 127 of Income Tax Act, Citing Efficient Tax Collection and Public Interest [Read Order]

The Punjab and Haryana High Court has upheld the order of the Principal Commissioner ofIncome Tax (PCIT), Chandigarh‑I, transferring the assessment...

Mere Reiteration of Order Not Wilful Disobedience: Delhi HC Drops Contempt Proceedings Against...

Category III AIFs Not Automatically Indeterminate if Investor names are Absent from Original Trust...

Section 9(a)(i) Bars Vivad Se Vishwas Scheme Relief in Search Cases Exceeding ₹5 Crore Disputed Tax:...

Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme...

“Don’t Delay, Link it Today”: Income Tax Department to Deactivate Unlinked PAN from 1st April, Urges Taxpayers to Link Adhaar with PAN

As the Government is all set to deactivate all PAN Cards that are not linked with aadhaar card, the income tax department has issued an urgent notice to all taxpayers advising them to link their PAN...

Income Tax Authorities Bound to Follow CBDT Circulars: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has recently in an appeal filed before it, held that income tax authorities are bound to follow CBDT circulars. The aforesaid observation...

CBDT issues of further clarifications (FAQs) on Income Declaration Scheme, 2016 [Read Circular]

The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme came into...

Income Declaration Scheme; PAN Mandatory, Scheme open to residents & non residents; CBDT [Read Circular]

The Central board of direct Taxes (CBDT) today issued clarification and a bunch of Frequently Asked Questions (FAQs) to clarify the confusion of the newly introduced income declaration scheme. This...

CBDT issues Clarification regarding News Report of Arrest of Tax Defaulters

Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest willful defaulters of tax. In this regard, it is clarified that no such statement has...

1% Tax at Source only on retail sales of Motor Vehicles of the value exceeding 10L₹: CBDT Circular [Read Circular]

In a Clarificatory Circular No 22/2016, dated 8th June 2016, the Central Board of Direct Taxes clarified Amendment in Section 206C vide Finance Act 2016. The one percent tax collection at source...

Publishing Houses eligible to claim additional depreciation; CBDT [Read Circular]

In a circular issued by Central Board of Direct Taxes(CBDT) clarified that, Business of manufacture or production of an article or thing, is eligible to claim additional depreciation under (iia) of...