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.
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...
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 ...
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.
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 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.
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.
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.
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.
Operation Clean Money to get another extension for clearing tax assessment cases
The CBDT will likely extend the deadline for disposal of assessment cases under operation Clean Money after more than 23 lakh cases were identified for E-verification in two phases. The original deadline of September 30 was extended to December 31.
Faceless e-assessments will motivate honest taxpayers: Pramod Chandra Mody, chairman, CBDT
CBDT chairman says the centralised process will improve “the quality of assessments”.
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.
Former tax dept head K V Chowdary joins Reliance board
A 1978-batch Indian Revenue Service (IRS) officer, Chowdary was in August 2014 appointed as chairman of the Central Board of Direct Taxes (CBDT), the top policy making body of the income tax department.
Top tax official who made sensational allegations against CBDT chairman gets promoted
Alka Tyagi, Chief Commissioner of IT(Unit 2) had written to FM that a previously disposed of vigilance case against her was now being used by CBDT chairman as a "weapon of blackmail" to stall her posting.
GST refunds denied to MNC back offices
Denial of refunds running into hundreds of crores of rupees is about to derail business models of many cos.
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