Govt reworking its strategy to enhance direct tax mop-up: CBDT Member Ranjan
Ranjan, who is also the convenor of the task force on Direct Tax Code, said taxpayers in the country should not see paying income tax as a burden.
Corporate tax system complex, need to make it more streamlined, says CBDT's Akhilesh Ranjan
DTC report focuses on using tech to improve compl...
Govt waives 3-year lock-in period on investments made by NRIs in IDF bonds
IDFs are investment vehicles to accelerate the flow of long-term d...
CBDT launches one-time facility for compounding of income tax offences
A one-time facility to apply for compounding of income tax offences has been launched and taxpayers can avail this opportunity by December 31, a latest CBDT directive said.
Government notifies faceless e-assessments in tax: More transparency, but some challenges too
The e-assessment scheme has now been notified, under which CBDT will set up national and regional e-assessment centres as well as various units to conduct e-assessments.
E-assessment scheme for faceless scrutiny of income tax returns notified
The notification was issued by the CBDT on Septemeber 12, 2019.
CBDT’s norms for manual ITR scrutiny
For the current financial year 2019-20, ITRs filed by charitable trusts entities will be manually selected and will be subject to complete scrutiny.
Tax offences, failure to pay TDS up to Rs 25 lakh not be prosecuted by taxman
The directive is being seen as a major move to cut down tax litigation and will save a number of assessees from legal proceedings.
No tax demand from startups sans appellate tribunal nod: CBDT
CBDT has issued a consolidated circular reiterating clarifications issued so far on taxation issues hurting startups, including the so-called angel tax.
CBDT notifies creation of special cell for startups
An order issued by the CBDT said the 'Startup Cell' will be headed by the member (Income Tax and Computerisation) of the Board.
PMO seeks litigation withdrawal update from CBDT
The Prime Ministers Office (PMO) has sought data on withdrawal of cases and the cases identified for withdrawal till August 31.
Govt extends CBDT Chairman Mody's tenure
The Appointments Committee of the Cabinet headed by PM Modi has approved the re-appointment.
Overlooked for chairman post, CBDT member Akhilesh Ranjan seeks retirement
Official sources said that Ranjan, who headed the tax force on direct taxes, has sought retirement from the service owing to "family and personal reasons."
Order of ITR filing deadline extension to Sept 30 is fake: CBDT
There had been rumours that the deadline may be extended again. There had been images of an order issued by the CBDT circulated in social media. Consequently, CBDT has issued a clarification.
Reporting of foreign assets in income tax return: CBDT issues clarification
CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing ITR for FY 2018-19.
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