Income Tax News
Further clarification issued on Income Declaration Scheme
28 June 2016 at 11:10Page 1 of 4Circular No. 24 of 2016F.No.142/8/2016-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated 27th of June, 2016Clarifications on the Income Declaration Scheme, 2016The Income Decl
PM says last chance to declare undisclosed income
27 June 2016 at 10:26Prime Minister speaks on Income Declaration Scheme in Mann ki Baat The Honourable Prime Minister, Shri Narendra Modi, in his radio programme, Mann ki Baat aired on Sunday, 26th June, 2016, advised his countrymen about the benefits of declaring hithe
TCS at 1 percent only applicable on cash portion of sale
25 June 2016 at 12:09Circular No. 23/2016F.No.370142/17/2016-TPLGovernment of IndiaMinistry of FinanceDepartment of revenueCentral Board of Direct Taxes(TPL Division)Subject: Amendment in Section 206C of the Income-tax Act vide Finance Act 2016 In order to curb the cash
Amendment in Rule 114H of Income-tax Rules, 1962
23 June 2016 at 10:45The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151(E)] dated 20th June 2016. In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence pro
Clarification regarding threshold Limit of tax audit under section 44AB and 44AD
22 June 2016 at 10:47Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, the 20th June, 2016Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regardingSection 44AB of the Income-tax
Clarification regarding News Report of Arrest of Tax Defaulters
22 June 2016 at 10:47Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest wilful defaulters of tax. In this regard, it is clarified that no such statement has been authorised by the Income-tax Department. Thoug
Major take aways from Annual conference of tax administrators
20 June 2016 at 10:41"Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology an
Simplification of procedure for Form 15G and 15H
11 June 2016 at 12:00F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-174539Government of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems)New Delhi.Notification No 1/2016 Dated: 09th June, 2016Subject: Simplification of procedure for Form No.
Relaxation of MCA additional fees and extension of time for filing of eforms
01 June 2016 at 10:33Circular No. 07/2016 F.No. MCA/21/33/2016-e-Gov cell Government of India
At 7.6% GDP growth India is the fastest growing large economy
01 June 2016 at 10:33India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters; Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16 The Provisional Accounts for 2015-16 have been released by
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