Income Tax News

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

23 October 2017 at 11:08

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

Posted in Income Tax | 3963 Views

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

12 October 2017 at 12:04

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

Posted in Income Tax | 2457 Views

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

04 October 2017 at 11:22

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

Posted in Income Tax | 4857 Views

Number of taxpayers increases to 6.26 crore

02 October 2017 at 14:38

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

Posted in Income Tax | 3213 Views

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

23 September 2017 at 13:16

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

Posted in Income Tax | 4680 Views

Form 67 enabled in efiling for claiming foreign tax credit

22 September 2017 at 10:46

DGIT(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

Posted in Income Tax | 1 comments | 5058 Views

New Registration process for effective communication between taxpayer and department enabled

22 September 2017 at 10:46

New 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

Posted in Income Tax | 5 comments | 4854 Views

Voluntary reporting of estimated current income and advance tax liability

20 September 2017 at 10:18

Government 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

Posted in Income Tax | 3 comments | 23730 Views

CBDT asked to include service charge while assessing tax

14 September 2017 at 10:37

CBDT 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

Posted in Income Tax | 4245 Views

Direct Tax Collections upto August grows by 17.5%

12 September 2017 at 10:44

Direct 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

Posted in Income Tax | 2778 Views