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Central Board of Direct Taxes (CBDT) News
Central Board of Direct Taxes (CBDT)
Income Tax alert! IMPORTANT update from CBDT for taxpayers facing difficulties - RELAXATION in electronic filing of these forms
Mon, Jun 14, 2021
CBDT has granted relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported by taxpayers in filing of forms online on the new e-filing portal http://incometax.gov.in.
I-T dept withdraws circular on transfer of shares for 'no or inadequate consideration'
Sun, Jan 06, 2019
The CBDT had on December 31 said taxes need not be levied in cases where shares were "received" by a specified company as a result of fresh issuance of shares, including by way of bonus shares, rights issue and preference shares.
PAN card rules changed! Check important date, affected taxpayers, other details
Sat, Nov 24, 2018
Ordinary individuals do not have to worry about the new rules as they would be applicable only for entities that have made financial transactions worth Rs 2.5 lakh or more in a financial year. As per a notification, it would be mandatory for such entities to apply for a PAN card.
Reward for income tax payers? See what CBDT chairman said
Thu, Nov 15, 2018
The CBDT, that frames policies for the Income Tax (I-T) Department, is "examining" a report that proposes to facilitate honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, a top official said Wednesday.
Crorepatis in India: CBDT says number has risen by 60 per cent
Mon, Oct 22, 2018
Releasing key statistics of income tax and direct taxes for a period of about four years, the policy-making body of the IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.
Income tax returns (ITR) filling: Govt extends deadline for assessees in Kerala
Tue, Aug 28, 2018
Income tax returns (ITR) filling: In a great respite to taxpayers in flood ravaged Kerala, the Central Board of Direct Taxes (CBDT) today extended the last date of filing income tax returns (ITR) till 15 September.
Reporting of GST, GAAR details in tax audit report deferred till Mar 2019
Sat, Aug 18, 2018
The revenue department deferred implementation of a reporting norm for tax auditors wherein they were required to furnish details of Goods and Service Tax (GST) and general anti-tax avoidance rules (GAAR) till March 31, 2019.
Income Tax collection surges to record Rs 10.03 lakh crore says CBDT
Sat, Aug 18, 2018
Addressing a two-day conference of Income Tax Administrators of Eastern Zone here, Shabri Bhattasali, Member of CBDT said that during 2017-18, a record number of 6.92 crore I-T returns were filed, which was 1.31 crore more than 5.61 crore returns filed in 2016-17.
ITR filing last date: Income tax returns filing deadline extended by Modi govt
Thu, Jul 26, 2018
ITR filing last date: CBDT has extended Income tax returns (ITR) filing deadline. The due date for filing tax returns for assessment year 2018-19 for taxpayers has been extended by one month till August 31, 2018 from the earlier July 31, 2018.
Income Tax returns refund: Rs 70,000 crore worth refunds issued; did you get yours?
Wed, Jul 04, 2018
Central Board of Direct Taxes on Wednesday said that more than Rs 70,000 crore of refunds have been issued to the taxpayers as a result of the special drive and expeditious processing of returns involving the claim of returns.
Startups floated before 2016 may get breather from angel tax
Mon, Feb 05, 2018
The government has also reportedly asked tax officials not to pursue cases against startups
April 30 last day to provide self-certification for account holders; here's what you need to know about FATCA
Wed, Apr 12, 2017
The Inter-Governmental Agreement (IGA) between India and USA was expected to come into force on August 31, 2015.
More than Rs 1.3 lakh crore of income tax evasion detected in three years: FinMin
Fri, Apr 07, 2017
The Ministry in a release mentioned that the three year period witnessed "unprecedented enforcement actions in direct & indirect taxes."
CBDT seeks suggestion on draft notification of STT chargeability rules
Mon, Apr 03, 2017
Under the Section 10 (38), the income arising by way of a transfer of long term capital asset, being equity share in a company, shall be exempt from tax if such transfer is undertaken after 1st October, 2004.
Income Tax Filing: What is Sahaj? Here's all you need to know about new ITR-1 Form
Mon, Apr 03, 2017
The ITR-1 Form, also called Sahaj (meaning easy in Hindi), is the Income Tax Return Form for salaried individuals.
CBDT asks taxman to make all out efforts to recover arrears
Sat, Mar 18, 2017
The CBDT boss said the new current demand (after reducing pre-paid taxes) of Rs 3,60,707 crore has been raised till February.
Income Tax dept releases list of defaulters owing Rs 448 crore
Sat, Mar 18, 2017
The department brought out the list of defaulters of income tax and corporate tax even as it advised them to pay their "tax arrears immediately".
Fast track prosecution cases against shell cos: CBDT to taxmen
Sun, Mar 12, 2017
The I-T department is taking steps to plug loopholes in the law and deter people from wrongly availing capital gains benefits.
Less tax for small traders on digital transactions: Govt
Mon, Dec 19, 2016
Legislative amendment in this regard would be carried out through the Finance Bill, 2017, the CBDT added.
Income Tax department seizes Rs 130 crore post-demonetisation
Tue, Dec 06, 2016
The Income Tax Department has carried-out swift investigations in more than 400 cases.