Income Tax News
Direct Tax Collections show a growth of 15.8% upto September 2017
12 October 2017 at 12:04The 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
04 October 2017 at 11:22Instruction 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
02 October 2017 at 14:38FM: 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
23 September 2017 at 13:16The 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
Form 67 enabled in efiling for claiming foreign tax credit
22 September 2017 at 10:46DGIT(S)-ADG(S)-3/e-filing notification/form67_____ /2017 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 9 New Delhi 19th September, 2017 Procedure for filing Statement of inc
New Registration process for effective communication between taxpayer and department enabled
22 September 2017 at 10:46New Registration process to facilitate effective communication between the taxpayer and department is enabled. The existing e-Filing users are required to update their profile by logging into e-Filing account. Users who have registered already and no
Voluntary reporting of estimated current income and advance tax liability
20 September 2017 at 10:18Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 19th September, 2017Voluntary reporting of estimated current income and advance tax liabilityA taxpayer who is liable to discharge part of its tax liab
CBDT asked to include service charge while assessing tax
14 September 2017 at 10:37CBDT has been asked to consider inclusion of Service Charge while assessing tax: Shri Ram Vilas Paswan Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charg
Direct Tax Collections upto August grows by 17.5%
12 September 2017 at 10:44Direct Tax Collections up-to August, 2017 in the current Financial Year 2017-18 show Growth of 17.5% The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net
CBDT extends date for Linking of Aadhaar with PAN to 31st December
01 September 2017 at 11:08CBDT extends date for (a) Linking of Aadhaar with PAN and (b) Due date for filing Income Tax Returns and Tax Audit Reports. To facilitate ease of compliance by the taxpayers, CBDT has extended the date in the following cases:-i. Aadhaar was to be lin
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