Income Tax News

TDS on payments by Television channels

09 March 2016 at 10:40

Issue of clarification on contentious TDS issues on payments made by Television channels, Broadcasters and Newspapers With a view to bring about clarity in the interpretation of certain contentious issues relating to Tax Deduction at Source (TDS) on

Posted in Income Tax | 1 comments | 12609 Views

Clarification regarding taxability of consortium members

09 March 2016 at 10:40

Taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects has been a subject matter of dispute between Income-tax Department and the consortium. This has been particularly so

Posted in Income Tax | 9036 Views

Tax Administration Reforms Commission

09 March 2016 at 10:40

The Government has received the Report of Tax Administration Reforms Commission (TARC) headed by Dr. Parthsarathi Shome. The Report has four volumes containing a number of tax administration reforms. The broad recommendations inter-alia include chang

Posted in Income Tax | 7155 Views

CBDT sets up a dedicated structure for monitoring of taxpayer services in IT dept

08 March 2016 at 11:01

CBDT sets-up a Dedicated Structure for delivery and monitoring of Tax Payer Services in the Income Tax Department Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax De

Posted in Income Tax | 8754 Views

CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage

04 March 2016 at 11:09

CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of

Posted in Income Tax | 15600 Views

CBDT clarifies various provisions of the IT Act for reducing litigation

04 March 2016 at 11:09

CBDT clarifies various provisions of the Income-tax Act for reducing litigation and easing burden of compliance The Central Board of Direct Taxes (CBDT) has taken a number of decisions to clarify the applicability of various provisions of the Incom

Posted in Income Tax | 11430 Views

Non tax receipt portal launched

16 February 2016 at 12:35

Finance Minister Shri Arun Jaitley inaugurates the Non-Tax Receipt Portal (NTRP); Portal provides a one-stop platform to citizens/corporates/other users for making online payment of Non-Tax Receipts to Government of India;At the launch today, NTPC re

Posted in Income Tax | 13839 Views

Direct tax and indirect shows healthy growth of 10.9 and 33.7 percent

11 February 2016 at 10:52

Direct and Indirect Tax collections together expected to meet the target of Revenue collections for the Current Financial Year 2015-16 without any shortfall; Latest tax collections figures up to 31st January,2016 indicate healthy growth of 33.7% in I

Posted in Income Tax | 1 comments | 8823 Views

Steps taken by Income Tax Department for safeguarding taxpayers from Phishing emails

08 February 2016 at 10:51

The Income Tax Department has been at the forefront of using technology in implementing its –e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and aler

Posted in Income Tax | 1 comments | 12585 Views

CBDT signs 7 Unilateral Advance pricing agreements

23 January 2016 at 13:35

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Sub: Signing of 7 unilateral Advance Pricing Agreements on 22 January 2016-regardingThe Central Board of Direct Taxes (CBDT) entered into 7 more unilateral Advan

Posted in Income Tax | 10770 Views