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CBDT to conduct a Nation-wide Tax Collection Review for the year 2018 Today

Taxscan Team

In a bid to increase the direct tax revenue, the Central Board of Direct Taxes (CBDT) will conduct a country-wide review of tax collection, especially...

Persons who have not Filed Income Tax Returns for last Two Years can file the same till 31st March:...

CBDT releases Explanatory Note to the Provisions of the Finance Act, 2017 [Read Circular]

One Lakh Notices Sent to Crypto Currency Investors so far, says CBDT Chairman

E-Assessment of Tax Payer to be dealt by Two Officers, says CBDT Chief

Compounding Fee can exceed Principal Amount If Non-Payment of Tax was Wilful: Delhi HC Upholds CBDT Compounding Guidelines [Read Judgment]

While upholding the compounding guidelines issued by the Central Board of Direct Taxes (CBDT), a division bench of the Delhi High Court held that the amount of compounding fee can be more than the...

Direct Tax Collections for F.Y. 2017-2018 show Growth of 18.2% up to December, 2017

The provisional figures of Direct Tax collections up to December 2017 show that net collections are at Rs. 6.56 lakh crore which is 18.2% higher than the net collections for the corresponding period...

Number of Tax Payers increased Post-Demonetisation, says Shiv Pratap Shukla

Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Lok Sabha today said that the number of tax payers in India has increased after demonetization. During the period...

Income Tax E-Assessment to Roll Out Next Year

As part of introducing a "faceless and nameless" e-assessment procedure for income tax, a nine-member committee constituted by the Central Board of Direct Taxes (CBDT) confirmed that the online...

Property-Holders who have never filed Income Tax Returns are under Scanner

In a significant move to crackdown black money, the Income Tax department is planning to pursue those property-holders who have never filed income tax returns. The department suspects that these may...

Direct Tax Collections up to July, 2017 in Current Financial Year 2017-18 show a Growth of 19.1%

The Direct Tax collections up to July, 2017 in the Current Financial Year 2017-18 continue to register steady growth. Direct Tax collection during the said period, net of refunds, stands at Rs. 1.90...

CBDT Issues Guidelines for Selection of Cases for Scrutiny for the year 2017-18 [Read Instruction]

The Central Board of Direct Taxes (CBDT) today issued guidelines for compulsory selection of returns/ cases require scrutiny for the year 2017-18. The Board, as per the Instruction No. 5, prescribed...

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