Income Tax News

Direct and indirect tax collection increases by 15.03% and 27.5%

13 September 2016 at 11:07

Direct Tax Collections up to August, 2016 show an Increase of 15.03% over the net collections for the corresponding period last year; Till August 2016, 22.30% of the Budget Estimates of direct taxes for Financial Year 2016-17 has been achieved. The f

Posted in Income Tax | 2679 Views

Due date for filing ITR extended to 17th Oct from 30th Sep

09 September 2016 at 20:14

Due date for filing of Income tax returns by tax payers whose accounts are required to be audited under IT Act has been extended to 17th Oct F.No.225/195/2016-1TA-II Government of India Ministry of FinanceDepartment of RevenueCentral Board of Direct

Posted in Income Tax | 23 comments | 26244 Views

Further clarification issued for Income Declaration Scheme

06 September 2016 at 10:25

Income Declaration Scheme 2016 – Government issues Clarifications in the form of Sixth Set of Frequently Asked Questions (FAQs) The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in

Posted in Income Tax | 4365 Views

Extension of due date for quarterly furnishing of 15G and 15H declaration

01 September 2016 at 10:39

Extension of due date for quarterly furnishing of 15G and 15H declaration PFA the attachment for more details

Posted in Income Tax | 1 comments | 7044 Views

CBDT signs 20 Unilateral Advance Pricing Agreements with Indian taxpayers

31 August 2016 at 17:02

The Central Board of Direct Taxes (CBDT) entered into twenty (20) Unilateral Advance Pricing Agreements (APAs) yesterday and today, i.e., 29th August, 2016 and 30th August, 2016, with Indian taxpayers. Many of these agreements also have a “Roll

Posted in Income Tax | 3384 Views

Extension of date of filing return in J&K to 30.09.2016

27 August 2016 at 10:51

F. No. 225/195/2016/ITA.IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth-Block, ITA.II DivisionNew Delhi, the 26th of August, 2016 Order under Section 119 of the Income-tax Act, 1961 On consideration of

Posted in Income Tax | 3 comments | 3384 Views

Update PAN at ICAI to avoid blocking of efiling account by IT dept

26 August 2016 at 10:58

It has been noticed that the Income Tax Department has blocked/ disabled the e-Filing account of the members whose correct PAN details are not available with the Department. Upon following with the Income Tax Department, it has been informed that the

Posted in Income Tax | 3 comments | 10944 Views

Capital gains to be attracted for investment via Cyprus

25 August 2016 at 10:55

Cabinet approves Agreement and the Protocol between India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion India, today took another major step in the fight against tax evasion, "round tripping" and &quo

Posted in Income Tax | 1 comments | 3318 Views

Further clarification issued on the Income and Declaration Scheme

19 August 2016 at 11:43

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesSubject : The Income Declaration Scheme 2016- Rule amendment and issuance of FAQ The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to perso

Posted in Income Tax | 3249 Views

Income Declaration Scheme (Second Amendment) Rules, 2016

16 August 2016 at 10:34

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 12th August, 2016S.O. 2705(E).— In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 of the Finance Act, 20

Posted in Income Tax | 4674 Views