Income Tax News

Task Force constituted for drafting New Direct Tax legislation

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesConstitution of Task Force for drafting a New Direct Tax Legislation During Rajaswa Gyan Sangam held on 1st and 2nd September, 2017, Hon�ble Prime Minister

Aadhaar data was never breached says UIDAI

The Unique Identification Authority of India (UIDAI) responding to a news report, appeared in certain section of media on "210 Government sites made Aadhaar info public" as if Aadhaar data is leaked or breached, has said that such report

Direct tax collection shows growth of 15.2%, 89507 crore refund issued so far

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 7th November, 2017. Direct Tax Collections for F.Y. 2017-2018 show Growth of 15.2% up to October, 2017The provisional figures of Direct Tax collections

CBDT notifies rules in respect of Country-by-Country reporting of Master File

In keeping withIndia’s commitment to implement the recommendations of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifti

Tax Audit due date extended to 7th Nov

Draft Notification of amendment of Rule 17A and Form 10A of IT Act

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 18th October, 2017.Draft Notification of amendment of Rule 17A and Form 10A of the Income-tax Rules, 1962 – comments and suggestions thereof.Vid

Direct Tax Collections show a growth of 15.8% upto September 2017

The provisional figures of Direct Tax collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represen

Procedure for conduct of Assessment Proceedings electronically in time barring scrutiny cases

Instruction No. 8/2017 Government of IndiaMinistry of Finance Department of Revenue (CBDT) North Block, N.Delhi, dated the 29th of September, 2017 Subject: Conduct of Assessment Proceedings electronically in time-barring scrutiny cases-Order under se

Number of taxpayers increases to 6.26 crore

FM: Income Tax Department takes various initiatives to bring about efficiency, transparency, and fairness in Tax Administration; Government is committed to widen the tax base by encouraging and incentivising the new tax payers; Number of tax payers i

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law.However, instances have been brought to the noti