Wed, Nov 01, 2023
The Income Tax Department appreciated taxpayers and tax professionals for on-time compliance, resulting in a record number of filing of Income Tax Returns (ITRs) till October 31, 2023, said a press release by CBDT.
Sun, Aug 20, 2023
Employees enjoying rent-free accommodation would see rationalisation of perquisite value leading to a reduction in taxable salary, increasing the net take-home pay.
Sat, May 27, 2023
Suggestions/Comments have been invited from stakeholders & general public on the draft rules, which can be sent to ustpl2@nic.In, latest by June 5, 2023, the Central Board of Direct Taxes (CBDT) tweeted.
Wed, Jan 18, 2017
Nangia & Co Partner Amit Agarwal said FII/FPIs are highly sensitive breed of investments and the circular had brought in more apprehensions than clarity.
Thu, Jan 12, 2017
To curb grey market and boost the organised players, the Gem and Jewellery Export Promotion Council (GJEPC) is expecting Finance Minister Arun Jaitley to reduce the import duty on gold to around 5%in the upcoming Union Budget.
Fri, Dec 30, 2016
The DRS which came into force on June 01, 2016, aimed on settling pending disputes with the Commissioner of Income Tax (Appeals). It covers two kinds of litigation.
Sun, Dec 25, 2016
Vodafone, Cairn Energy and other firms facing retrospective tax demand will have to withdraw legal cases and give up the right to contest constitutional validity of back-dated amendment to Income Tax (I-T) laws if they want to avail of the dispute resolution scheme ending on December 31.
Fri, Dec 23, 2016
The Central Board of Direct Taxes (CBDT) has clarified that reporting requirements as per the rules are applicable when a single transaction involves receipt of cash payment exceeding Rs 2 lakh for sale of goods or services, signifying that no aggregation is required, a Union Finance Ministry release here said.
Thu, Dec 22, 2016
The Income Tax Department (IT) has identified 67.54 lakh non-filers for financial year 2014-15, it said in a statement.
Fri, Dec 02, 2016
In a statement, Meenakshi J Goswami, I-T Commissioner and Spokesperson of the Central Board of Direct Taxes (CBDT), clarified that jewellery bought from disclosed income will not be taxed under existing or proposed amended provisions.
Fri, Sep 09, 2016
In a move to remove inconvenience and facilitate smooth process of filing tax returns under the Income Declaration Scheme (IDS), the Central Board of Direct Taxes (CBDT) has extended the date for taxpayers to October 17, Zee Business news channel reported on Friday.
Mon, Jun 27, 2016
The Income Tax Department has been levying 1% TCS on cash purchase of bullion in excess of Rs 2 lakh and jewellery in excess of Rs 5 lakh.
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