Income Tax News

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 | 8325 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 | 13074 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 | 18936 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 | 18171 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 | 33504 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 | 29166 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 | 9852 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 | 13815 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 | 12009 Views

ITR 1,2 and 4S simplified for convenience of taxpayers

01 June 2015 at 08:36

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers; A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Inco

Posted in Income Tax | 7 comments | 23733 Views