TDS on interest on accident compensation: HC seeks CBDT stance

A bench of Justice S Muralidhar and Justice Talwant Singh also issued a notice to the Ministry of Finance, asking for its stand on the plea, and listed the matter for further hearing on November 6.

CBDT wants I-T dept to recover Rs 5.11 lakh crore tax arrears this fiscal

The total outstanding tax demand arrears of the I-T department stands at Rs 12.77 lakh crore as on April up over 14 per cent from a year ago.


Deposits during note ban: Deadline set for assessment of 87,000 non-filers

The tax department had served notices to around 3 lakh depositors, out of which 87,000 have not filed their returns in response to the notice issued under Section 142 (1) of the Income-tax Act.

Days after issuing circular to clarify stance on taxation of companies, CBDT withdraws it

The December 31 circular was welcomed by Congress party as a vindication of its stand in the National Herald case, with the next hearing slated for January 8 in Supreme Court.

Indirect tax evasion cases post a decline in FY18-19

A closer look at government data reveals that the Central Board of Direct Taxes (CBDT) has registered an over six-fold increase in the number of prosecution cases filed in courts to 4,524 in 2017-18 from 669 in 2014-15.

For 2017-18: ‘I-T dept picked 0.35 per cent returns for scrutiny’

In 2017-18, the CBDT has collected Rs 10.03 lakh crore revenue on account of income tax and corporate tax, a growth of 18 per cent over last year.


CBDT to Election Commission: Don’t make scrutiny of MP, MLA assets public

The CBDT had decided to scrutinise poll affidavits, at the EC’s request, to verify whether the information on movable and immovable assets submitted by the contesting candidates matches the income they have declared in the past.

Central Board of Direct Taxes exempts angel investors from income tax

The exemption is linked to the conditions approved by an inter-ministerial board last month that defines such concession for share capital and share premium of the start-up not exceeding Rs 10 crore.

CBDT to Income tax officials on Angel tax: ‘No coercive action over startup valuation’

CBDT said that in all the cases that are pending with the Commissioner (Appeals), necessary administrative steps should be taken for expeditious disposal of appeals, “preferably by March 31, 2018”.

Don't misuse I-T laws, tax rates already low: CBDT to industry

Sushil Chandra said that the effective tax rate for large companies works out to be 26 per cent after taking into account various exemptions which they enjoy.