Income Tax News


Procedure for claiming exemption u/s 11 for remittance to Nepal

 09 July 2015 at 10:19

Standard Operating Procedure (SOP) for making application for claim of tax exemption u/s 11(1)(c) of the Income-tax Act, in respect of remittance of money/relief articles by Indian NGOs/Charitable Organisations for earthquake hit people in Nepal.Many

Posted in Income Tax |   11064 Views


Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets

 06 July 2015 at 17:45

Circular No. 13 of 2015F. No. 142/18/2015-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated 6th of July, 2015Clarifications on Tax Compliance for Undisclosed Foreign Income and AssetsThe

Posted in Income Tax |   8385 Views


Notification of Black Money Rules and issue of Explanatory Circular for Compliance Window under Black Money Act

 04 July 2015 at 13:32

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 (the Rules) have been notified vide notification

Posted in Income Tax |   1 comments |   13116 Views


Electronic Filing of Income Tax Returns for 2015-16 Commences

 02 July 2015 at 11:16

Electronic Filing of Income Tax Returns for 2015-16 Commences; ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business; ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Bus

Posted in Income Tax |   4 comments |   18975 Views


Business relationship a CA can have with client notified by CBDT

 27 June 2015 at 17:30

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II,SECTION 3, SUB-SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th June, 2015INCOME-TAXS.O. 1683(E).

Posted in Income Tax |   3 comments |   18225 Views


ITR-1, ITR-2,ITR-2A and ITR-4S notified for AY 2015-16 by CBDT

 24 June 2015 at 10:51

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,SECTION 3, SUB- SECTION (ii)]GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE[CENTRAL BOARD OF DIRECT TAXES]NOTIFICATIONNew Delhi, the 22nd day of June, 2015Income-taxS.O. 16

Posted in Income Tax |   33570 Views


Return filing date extended to 31st Aug from 31st July for AY 15-16

 12 June 2015 at 11:24

F.No.225/154/2015/ITA.II Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, ITA.II pisionNew Delhi, the 10th June, 2015. Order under section 119 of the Income-tax Act 1961Subject:- Extension of due da

Posted in Income Tax |   7 comments |   29202 Views


Clarifications on Rollback Provisions of Advance Pricing Agreement Scheme

 12 June 2015 at 11:19

Circular No. 10/2015F.No. 500/7/2015-APA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesForeign Tax and Tax Research Division-IAPA-II SectionNew Delhi, dated 10th June, 2015Subject: Clarifications on Rollbac

Posted in Income Tax |   9912 Views


Indirect tax collection increases by 37% in May 2015

 11 June 2015 at 10:48

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 36,408 Crore in May 2014 to Rs. 49,993 Crore During May 2015 An Increase of 37.3 % Registered During the Month of May 2015 over the Corresponding Period in the Previous Year; Central E

Posted in Income Tax |   2 comments |   13875 Views


CBDT Clarifies Regarding Prosecution of Tax Evaders

 09 June 2015 at 10:50

CBDT Clarifies Regarding Prosecution of Tax Evaders; Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary T

Posted in Income Tax |   2 comments |   12084 Views



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