NSE commodities segment gets recognition from CBDT
This approval will benefit traders in relation to trading in commodity derivatives segment of NSE.
Giving Aadhaar number in lieu of PAN? Make sure you have linked both. Here's why
CBDT issued a notification in August where it stated that if...
NCR-based real estate group admits Rs 3,000-crore black money after I-T raids
Though the Central Board of Direct Taxes (CBDT) did not identif...
CBDT notifies TDS certificate to be issued by individuals deducting tax on payments to contractors
According to the CBDT notification, an individual is required to deposit the tax deducted within 30 days from the end of the month in which the deduction was made. The tax must be deposited along with a challan-cum-statement in Form 26QD.
CBDT notifies PAN-Aadhaar interchangeability
The Union Budget presented in July had amended Section 139A of the Income-tax Act, 1961 to provide for interchangeability of PAN and Aadhaar number. However, an amendment to give effect to this change in various forms or returns and statements prescribed was pending.
CBDT seeks to widen net for appointment of members, makes younger officers eligible for post
Till a couple of years ago, only officers of the rank of Principal Chief Commissioner of Income Tax (PCCIT) were eligible for being considered for appointment as Member, CBDT. CBDT, on November 11, sought to widen the catchment of officers by making eligible all officers of the rank of Principal Commissioner of Income Tax and above.
21 I-T officers accused of corruption asked to retire
According to Government sources, the Central Board of Direct Taxes (CBDT) compulsorily retired yet another 21 Group B officers of the rank of ITO (Income Tax Officer).
CBDT apprises CEC of I-T action against Lavasa family
The CBDT has recently written to CEC Sunil Arora with details on the alleged income tax evasions by Lavasa’s family members. IT notices have been issued to Lavasa’s wife and son.
CBDT mops up Rs 6 lakh cr in direct tax collection so far
"During the beginning of the year, we were given the tax collection (target) of Rs 13.35 lakh crore. Of this, we have already collected Rs 6 lakh crore so far," Central Board of Direct Taxes Chairman P C Mody said after inauguration of the Taxpayers Lounge at New Delhi's Pragati Maidan.
CBDT extends all ITRs filing deadline for J-K, Ladakh UTs to November 30
The deadline for filing ITRs for certain categories of taxpayers -- professionals with an annual turn over Rs 50 lakh, businesses with an annual turnover of Rs 1 crore and some other category of taxpayers who need to get their books audited -- was to end on Thursday, October 31.
I-T department busts Rs 3,300-crore hawala racket involving infrastructure firms
The raids to unearth the large tax evasion nexus were conducted in the first week of this month on 42 premises in Delhi, Mumbai, Hyderabad, Erode, Pune, Agra and Goa on a group of people indulging in issuing bogus bills and carrying on hawala transactions. Hawala denotes illegal transaction of funds by skirting the legal banking channels.
CBDT inks 300th advance pricing agreement
The Central Board of Direct Taxes (CBDT) signed the 300th advance pricing agreement (APA) in September, 2019, an official statement said.
58,000 cases filtered for e-assessment: CBDT chairman
Mody further said that this is a pilot scheme and based on the learnings the department gets from this analysis, they will implement the system from next year.
View: How to tax a digitalised economy
The OECD proposal is separate from the existing ‘fixed place of business’ concept, and would operate regardless of whether taxpayers have an in-country marketing or distribution presence, or sell through related or unrelated distributors.
Demonetisation cases: CBDT extends taxman's deadline to December 31
An order was issued by the Central Board of Direct Taxes (CBDT) on Thursday, setting the new deadline on December 31, the official said.
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