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

In order to wipe out the cliché procedure in the department, the Central Board of Direct Taxes (CBDT) has proposed to implement E-assessment soon. While clarifying the concept, the CBDT Chief Sushil...

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

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...

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

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...

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

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...

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

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...

Income Tax E-Assessment to Roll Out Next Year
Taxscan Team

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...

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

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...

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

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