Income Tax News

India signs agreement with Seychelles for tax information exchange

21 August 2015 at 10:05

Signing and Ratification of agreement between India and Seychelles for the exchange of information with respect to taxes The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the signing and ratification of the agreement b

Posted in Income Tax | 1 comments | 10434 Views

Tax benefits notified in the state of Bihar

20 August 2015 at 10:14

Income-Tax Act 1961 Amended Through Finance Act 2015 to Provide Certain Tax Benefits to Notified Backward Areas in Specified States Including State of Bihar to Give These Areas an Opportunity to Grow Faster;21 Districts of Bihar Notified as Backward

Posted in Income Tax | 9588 Views

Computation of period of stay in India in certain cases

19 August 2015 at 10:36

[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]INCOME-TAXNotificationNew Delhi, the 17th August, 2015S.O. 2240(E).

Posted in Income Tax | 11676 Views

34281 cases pending related to direct tax in high courts

12 August 2015 at 10:42

The number of cases relating to Direct Taxes pending in various High Courts and the amount involved therein is as below: High Court No. of cases pending* 34,281 Amount involved* (in Rs. crore)

Posted in Income Tax | 4 comments | 15000 Views

Indirect Tax Provisional Revenue Collection Increases by 39.1%

11 August 2015 at 18:01

Indirect Tax Revenue (Provisional) Collections Increase From Rs. 40,802 Crore in July 2014 to Rs. 56,739 Crore During July 2015 Registering an Increase of 39.1% During the Month of July 2015 Over the Corresponding Period in the Previous Year; Customs

Posted in Income Tax | 1 comments | 9249 Views

CBDT signs advance pricing agreements (APAs) to usher in certainty in taxation

07 August 2015 at 10:40

As a part of a major initiative to usher in certainty in taxation, the Central Board of Direct Taxes (CBDT) entered into two unilateral Advance Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies (MNCs) which includes the fi

Posted in Income Tax | 8391 Views

Measures taken by govt to simplify tax filings

01 August 2015 at 13:26

With a view of minimize the cost of compliance of the taxpayers, the Central Board of Direct Taxes (CBDT) has taken several measures to make tax payment and statutory filings simple and convenient for the taxpayer, including- � Online applicatio

Posted in Income Tax | 13707 Views

CBDT notifies new ITR forms 3,4,5,6 and 7

31 July 2015 at 10:59

[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]Income-taxNOTIFICATIONNew Delhi, the 29th day of July, 2015S.O. 207

Posted in Income Tax | 16422 Views

New initiatives in efiling and some testimonials

30 July 2015 at 10:47

Taxpayers have appreciated the new initiative of Electronic Verification ofthe Income Tax Return through Aadhaar linkage and Net-banking and thetestimonials affirm the user-friendliness and removal of the hassle ofsending the paper copy of the ITR-V

Posted in Income Tax | 1 comments | 8151 Views

Timely redressal of tax payer grievances and public service delivery

30 July 2015 at 10:46

Government of IndiaMinistry of Finance Department of Revenue Central Board of Direct TaxesGrievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Central Acti

Posted in Income Tax | 7905 Views