Income Tax News

Initiatives for reducing litigation

22 January 2016 at 10:33

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 15th January, 2016Subject: Initiatives for reducing litigation- regarding.Reducing litigation with the taxpayers has been a key focus area

Posted in Income Tax | 9210 Views

Tax revenue increases by 20.8 percent during April-Nov 2016

14 January 2016 at 10:37

FM: Indian economy is on path of recovery despite uncertainty and volatility in global economic situation; Government continues to adhere to the path of fiscal consolidation; Gross tax revenues of the Government increase by 20.8 per cent during April

Posted in Income Tax | 11676 Views

Changes in Assessing officer performance appraisal format

09 January 2016 at 12:45

The Income Tax Department is committed to the objective of timely delivery of quality taxpayer services in a fair and transparent environment. The Department has modified the Annual Performance Appraisal Report (APAR) of the Assessing Officers (Incom

Posted in Income Tax | 9336 Views

644 Declarations involving Rs. 4,164 crore made under the Black Money scheme

07 January 2016 at 10:29

644 Declarations involving Rs. 4,164 crore made under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 A total of 644 declarations have been made under the compliance window provided in the Black Money (Undiscl

Posted in Income Tax | 11670 Views

FM calls upon IRS officers to maintain absolute standard of ethics

04 January 2016 at 10:21

The Finance Minister Shri Arun Jaitley calls upon the young officers of Indian Revenue Service (Customs & Central Excise) to maintain absolute standards of ethics and 100% integrity; asks them to emulate the Gandhian principle that even in moment

Posted in Income Tax | 8667 Views

Scope of scrutiny in cases selected through Computer Aided Scrutiny Selection

31 December 2015 at 10:46

Instruction No. 20/2015Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New DelhiDated-29th of December, 2015Subject: Scrutiny Assessments-some important issues and scope of scrutiny in cases select

Posted in Income Tax | 1 comments | 13563 Views

Specific requirement to be mentioned in scrutiny notice

31 December 2015 at 10:46

Instruction No.19/2015Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New Delhi, dated the 29th of December, 2015ToAll Pr. Chief-Commissioners of Income-tax/Chief-Commissioners of Income-tax All Pr

Posted in Income Tax | 4 comments | 11013 Views

Efiling of first appeal before CIT

30 December 2015 at 23:16

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesPRESS RELEASENew Delhi, 30th December, 2015Subject: Electronic filing of first appeal before CIT(Appeals) – reg. It is the endeavour of the Income tax Depa

Posted in Income Tax | 1 comments | 9657 Views

TDS under section 194A of the Act on interest on fixed deposit made on directions of Courts

30 December 2015 at 11:14

Subject: TDS under section 19A of the Act on interest on fixed deposit made on directions of Court- reg Section 194A of Income Tax Act, 1961(�The Act�) stipulates deduction of tax at source (TDS) on interest other than interest on securit

Posted in Income Tax | 3 comments | 14457 Views

Now quote PAN if cash payment is made above 2 lac

16 December 2015 at 10:49

The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Ac

Posted in Income Tax | 4 comments | 37470 Views