Central Board of Direct Taxes

Central Board of Direct Taxes News

India ratifies convention to check tax evasion

The board said that the MLI will modify India’s tax treaties to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out.

CBDT asks I-T dept to share info of loan defaulters with banks

The tax department will cull out this information from the Income Tax Return (ITR) of an assessee.

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Income tax returns | ‘Foreign assets: Wrong ownership info could invite prosecution’

The CBDT plans to provide e-PAN within four hours of receiving an application.

APAs: Govt gets Rs 3,000 crore but agreements slowing

The annual report on APAs for FY18, just released by the Central Board of Direct Taxes (CBDT) says the 219 APAs resulted in MNCs accepting an extra income of Rs 10,000 crore, translating into a tax of Rs 3,000 crore.

CBDT chairman Sushil Chandra: ‘Curb high-pitched assessments; take action on erring officers’

The CBDT chief also directed that a compliance report on these cases should be sent to the board every three months and a publicity campaign should be undertaken so that taxpayers know that this mechanism can be used to get their grievance addressed.

Long-term capital gains tax: CBDT lays down rules for concessional rate

The Central Board of Direct Taxes has asked stakeholders for comments by April 30.

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Working group formed: Panel to assess tax risks of HNIs migrating abroad

The Working Group will be headed by Pragya Sahay Saksena, a joint secretary with Foreign Tax & Tax Research Division of CBDT.

CBDT data: 9,690 paid more than Rs 1 crore tax in 2014-15

In 2013-14, three individuals figured in Rs 100-crore group, paying Rs 547 crore in direct tax. The new data show that no individual paid tax of over Rs 500 crore in 2014-15 as against one (Rs 21,870 crore) the previous year.

Express 2013 list yields undeclared Rs 500 cr; CBDT says 546 Indians identified

The information was sought in the wake of an April 2013 investigation by The Indian Express-International Consortium of Investigative Journalists on investments by Indians in offshore entities in tax havens.

Explain shortfall in direct tax mop-up: Hasmukh Adhia to CBDT

Revenue Secretary Hasmukh Adhia has sent a terse missive to the Central Board of Direct Taxes chairman Atulesh Jindal seeking an explanation for a likely shortfall in direct tax collections in 2015-16. This comes after the government had sharply lowered its direct tax target for 2015-16 by Rs 45,974 crore in the Union Budget last […]

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