Income Tax News


Gross Direct Tax Collections increased by 12.93%

   24 January 2015 at 13:44

Gross Direct Tax Collections During April-December of the Financial Year 2014-15 is up by 12.93 Percent and Stood at Rs. 5,46,661 Crore as Against Rs. 4,84,063 Crore in the same period last year Gross direct tax collection during April-December of t

Posted in Income Tax  5 comments |   14550 Views


Application for empanelment of Standing counsels

   22 January 2015 at 10:44

Application for empanelment of Standing counsels Detailed information has been attached herewith

Posted in Income Tax |   15267 Views


Guidelines for Compounding of Offences under Direct Tax Laws, 2014

   14 January 2015 at 10:47

Guidelines for Compounding- FNo285-35-2013-IT-Inv-V-108 Annexure-1Guidelines for Compounding- FNo285-35-2013-IT-Inv-V-108 Annexure-2-3 and AGuidelines for Compounding- Letter 17396 dt 6-1-15Guidelines for Compounding- Letter FNo. 285-35-2013-109 Deta

Posted in Income Tax |   13422 Views


No processing of return for refund if case is selected for scrutiny

   14 January 2015 at 10:47

Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961 Detailed information has been attached herewith

Posted in Income Tax |   17106 Views


Income-tax (Dispute Resolution Panel) (First Amendment) Rules, 2014 - Amendment in rule 3

   13 January 2015 at 18:05

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 31st December, 2014INCOME-TAXS.O. 3324(E).In exercise of the powers conferred by sub-section (14) of Section 144C of the Income-tax Act, 1961(4

Posted in Income Tax |   13929 Views


New draft of twelve Income computation and Disclosure standards

   10 January 2015 at 11:09

New Draft of Twelve Income Computation and Disclosure Standards (ICDS) has been Uploaded on the Finance Ministry and Income-Tax Department Website for Seeking Comments from Stakeholders and General Public by 8th February, 2015 Sub- se

Posted in Income Tax |   18147 Views


Action to be taken by ICAI against members signing TAR more than prescribed limit

   29 December 2014 at 17:56

Attention has been drawn to certain issues raised on the certification work done by the members of the profession in the report of Comptroller and Auditor General of India (C&AG) entitled Appreciation of Third Party (Chartered Accountant)

Posted in Income Tax  5 comments |   34218 Views


Admissions of Undisclosed Income under coercion / pressure during Search / Survey

   22 December 2014 at 10:29

Admissions of Undisclosed Income under coe​​​rcion/pressure during Search/Survey​ Detailed information has been attached herewith

Posted in Income Tax |   17535 Views


Percentage of Govt Grant for considering university, hospital as substantially financed by the Government

   17 December 2014 at 10:19

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SEC. 3, SUBSECTION(ii)]MINISTRY OF FINANCEDEPARTMENT OF REVENUE(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONINCOME-TAXNew Delhi, the 12th December, 2014 S.O. 3168 (E). In exercis

Posted in Income Tax |   13869 Views


Income-tax deduction from salaries during the FY 2014-15

   12 December 2014 at 09:47

CIRCULAR NO : 17/2014F.No. 275/192/2014-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New DelhiDated 10th December, 2014 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR

Posted in Income Tax |   34872 Views



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