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Saturday, June 12, 2021

Central Board of Direct Taxes

CENTRAL BOARD OF DIRECT TAXES NEWS

Coronavirus: Income Tax Employees Federation asks CBDT for longer window to process tax returns

March 23, 2020 3:14 pm

Apart from the Vivad se Vishwas scheme, the deadline for filing the revised income tax returns for 2019-20 is on March 31. The deadlines for various GST returns also fall between March 20 and March 31.

CBDT retires 21 tax officers on charges of graft, bribery

November 27, 2019 4:47 am

More than half of the officers have been charged by CBI in cases of “illegal gratification”, sources said. One of them was caught accepting a bribe of Rs 65,00,000, while another official is accused of having been a part of criminal conspiracy.

Opting for new tax structure: No MAT credit, additional depreciation benefits

October 03, 2019 3:25 am

Earlier, the tax rate for companies with annual sales over Rs 400 crore was 30 per cent (exclusive of surcharge and cess).

CBDT raises monetary threshold limit for I-T dept for filing appeals

August 09, 2019 5:33 am

The Board has not provided information on reduction of cases due to higher threshold. After last year’s increase, the CBDT has said that the I-T Department would withdraw 34 per cent of cases stuck in tribunal, 48 per cent of those stuck in high courts and 54 per cent in the Supreme Court.

India ratifies convention to check tax evasion

July 03, 2019 4:53 am

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

June 27, 2019 3:16 am

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

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

December 05, 2018 2:27 am

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

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

September 04, 2018 12:52 am

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’

July 09, 2018 12:38 am

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

April 25, 2018 1:34 am

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