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CBDT issues Circular on TDS from Salaries [Read Circular]

The Central Board of Direct Taxes ( CBDT ) has issued a circular on the applicability of Tax Deduction at Source (TDS) from salaries. The Board had...

Information that Dummy Concern used to route Unaccounted Money sufficient to Re-open Assessment:...

S. 56 not applicable in the absence of any Disproportionate Allotment of Shares to Existing...

Silver Articles given to Bride can’t be seized: ITAT Liberally Interprets CBDT Instruction [Read...

CBI Arrests Three Income Tax Officials in Separate Cases of Bribery

Income Tax Dept to proceed against Bogus Refund Claims

In a bid to prevent the bogus refund claims and evasion, the Income tax department is all set to launch some additional checks against persons who claimed a bogus refund based on fraudulent...

Govt constitutes Special Courts under Income Tax and Black Money Acts in West Bengal [Read Notification]

The Central Government has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and...

28.4% Growth in E-Returns by Income Tax Payers: Minister Shiv Pratap Shukla

The Minister of State for Finance, Shri Shiv Pratap Shukla has said that there is 28.4% growth in the number of e-returns filed by the income tax payers. There has been a growth in the number of...

Income Tax Dept asks Taxpayers to Beware of Phishing and Fake Refund Messages

The Income Tax department has recently asked the taxpayers to beware of the fake refund messages sent in the name of the department. In a recent advisory, the department said that the taxpayers...

Surplus earned by Trust while imparting Education not Business Income: ITAT [Read Order]

The Lucknow bench of the Income Tax Appellate Tribunal (ITAT) has held that the surplus earned by the Trust by imparting education cannot be treated as business income under the Income Tax Act, 1961. ...

CBDT asks to Pay Third Installment of Advance Tax by Dec 15

The Central Board of Direct Taxes ( CBDT ) has recently issued an advisory asking the taxpayers to remit the third installment of advance tax on or before December 15th, 2018. Advance tax means...

Senior Citizen not required to pay TDS u/s 194A for amount up to Rs. 50,000: CBDT

The Central Board of Direct Taxes (CBDT) has clarified that the senior citizen does not require to pay ‘deducted at source’ under section 194A of the Income Tax Act where the amount of such income...

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