The Central Board of Direct Taxes (CBDT) vide notification on Wednesday has issued the Income-tax (10th Amendment) Rules, 2020. The Rule 10V that provides the guidelines for the application of Section 9A has been amended....
The tellers of doom would argue that India Inc is staring at the end of a barrel owing to the contagion. In my view, we are at a cusp, where all the fittest would survive. ...
The Central Board of Direct Taxes (CBDT) has deferred the new procedure for Registration, Approval of Registration of Charitable and Religious Trusts. In view of the unprecedented humanitarian and economic crisis, the CBDT has decided that the...
The Central Board of Direct Taxes (CBDT) on Friday notified that the donations made to ‘Shri Ram Janmbhoomi Teerth Kshetra’ are eligible for deduction under Section 80G of Income Tax Act, 1961. The Central Government...
The Central Board of Direct Taxes (CBDT) has laid down fresh rules to amend the Income-tax Rules, 1962. The board notified Income-tax (8th Amendment) Rules, 2020. The Income Tax (8th Amendment) Rules, 2020, notified on...
The Income Tax Appellate Tribunal (ITAT) deleted the addition by Commissioner of Income Tax (CIT)(A) on account of unexplained jewellery in the light of the fact that the jewellery seized was supported by purchase bills...
The Government of India has notified the protocol amending Double Taxation Avoidance Agreement (DTAA) with Austria, notifies that the date of entry into force of the said amending Protocol is the 1st May 2020. The...
The three officers Prashant Bhushan of 1988 batch IRS, Prakash Dubey of 2001 batch, and Sanjay Bahadur of 1989 batch IRS officers have been identified as the key accused of the tax hike hoax incident....
The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their Income Tax audit report the details of the Goods and Services Tax (GST) and the General...
The Central Board of Direct Taxes (CBDT) has said today that there is some report circulating on social media regarding suggestions by a few IRS officers on tackling COVID-19 situation. It is unequivocally stated that...
The Central Board Direct Tax (CBDT) issued a clarification on Direct Tax Vivad se Vishwas Scheme, 2020 wherein the Board has updated the Frequently Asked Questions (FAQs)issued after the introduction of the same. Pursuant to...
The Central Board of Direct Taxes (CBDT) responding to some observations being circulated on social media alleging that the Income Tax Department is pursuing recovery proceedings and using arm-twisting methods by adjusting the outstanding demands...
The High Court of Gujarat held that no Tax Deducted at Source (TDS) is applicable on export freight to shipping agents of the non-resident. The respondent-assessee, Summit India Water Treatment filed its return of income...
The Central Board of Direct Taxes ( CBDT ) has revised Income Tax Return Forms to enable Taxpayers to avail benefits of timeline extension due to COVID-19. In order to enable income taxpayers to avail...
The Central Board of Direct Taxes (CBDT) issued clarification on issuance for lower rate or nil deduction or collection of Tax Deduction at Source (TDS) or Tax Collected at Source (TCS). The board received the...
In an advisory issued to the taxpayers, the Central Board of Direct Taxes (CBDT) has asked to be careful with their income tax e-filing account in order to secure the same from any misuse by...
At a time when the entire world, including India, is traversing in the uncharted territory of the pandemic of Coronavirus COVID-19 and is virtually in a complete lockdown of 21 days effective 24th March 2020...
In order to curb the difficulties caused to the coronavirus pandemic, the Central Board of Direct Taxes (CBDT) has directed all the TDS assessing officers to dispose of the applications through e-mail. An order issued...
In order to overcome the issues caused due to the COVID-19 outbreak and the lockdown period, the Central Board of Direct Taxes (CBDT) has extended the validity of Forms 15G and 15H of FY 2019-20...
In the wake of the outbreak of Coronavirus (COVID-19), the Central Board of Direct Tax (CBDT) has issued the directions on regarding the issue of certificates for lower rate/ nil deduction/ collection of Tax Deducted...
The Finance Minister Nirmala Sitharaman has announced that, under Vivad se Vishwas Scheme, there will not be additional 10% amount if the payment is done by June 30th, 2020. The Finance Minister also said that,...
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