Income Tax News

CBDT Clarification Regarding Information Received Under the DTAA With Germany

06 December 2011 at 10:16

It has been reported in some sections of the press that the Central Board of Direct Taxes (CBDT) has shared details of 18 individuals found to have stashed illegal funds abroad in LGT bank accounts. In this connection, it is clarified that the C

Posted in Income Tax | 3981 Views

Income-tax (9th Amendment) Rules, 2011- Insertion of Rule 40BA and Form No. 29C

03 December 2011 at 10:55

NOTIFICATION NO. 60/2011 [F. NO. 133/70/2011-SO(TPL)] DATED 1-12-2011 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to am

Posted in Income Tax | 19746 Views

FM Pranab Mukherjee's opening remarks in Kathmandau today after signing the Double Taxation Avoidance Agreement (DTAA)

28 November 2011 at 12:59

Here are the opening remarks of the Finance Minister: ‘It is an honour and a privilege to be in this beautiful city, the capital of Nepal. It brought back fond memories of my previous visits. It has been a very busy but most useful visit t

Posted in Income Tax | 1 comments | 4107 Views

Chairman's Message regarding Results Framework Document, 2012-13

23 November 2011 at 15:16

From the desk of Chairman, CBDT To the Members of Aayakar Parivaar Dear Friends, Subject: Preparation of Results Framework Document for Income tax Department for F. Y. 2012-13. I am sure that by now you have read the OM F. No. 22/1/2011/AP/DO

Posted in Income Tax | 7755 Views

Suggestions for prescribing a proforma for obtaining information relating to Transfer Pricing

22 November 2011 at 13:54

The Income Tax Department Need Suggestions for prescribing a proforma for obtaining information relating to Transfer Pricing and in other cases. For details please check the attached file...

Posted in Income Tax | 4653 Views

Central Board of Direct Taxes (CBDT) seeking tax audit data

16 November 2011 at 13:19

Dear Professional Colleague, As you must be aware, recently the ICAI had represented before Central Board of Direct Taxes (CBDT) seeking tax audit data based on returns e-filed during the year 2010-11. I would like to inform you that in response t

Posted in Income Tax | 4 comments | 11802 Views

Over 15000 Tax Disputes Involving Over 1.35 Lakhs Tax Proceedings Settled by Income Tax Settlement Commission

11 November 2011 at 15:27

The Income Tax Settlement Commission, Ministry of Finance , has settled over 15000 tax disputes involving over 1.35 lakhs tax proceedings in its life time since 1976. In 2010-11, it passed 400 orders, in which it settled income amounting to 595 Cr

Posted in Income Tax | 1 comments | 4848 Views

Income-Tax (Seventh Amendment) Rules, 2011 -Substitution of Form Nos. 49A & 49AA

02 November 2011 at 10:55

Income-Tax (Seventh Amendment) Rules, 2011 Substitution of Form Nos. 49A & 49AA Corrigendum to Notification No 2394(E) Dated 17-10-2011 NOTIFICATION NO. 58/2011 [F.NO. 133/48/2011-SO(TPL)]/S.O.2468(E) DATED 29-10-2011 In

Posted in Income Tax | 16029 Views

Income -Tax (Eighth Amendment) Rules, 2011 - Amendment in Rules 31A And 37BA

02 November 2011 at 10:18

NOTIFICATION NO. 57/2011 [F.NO. 142/23/2011-SO(TPL)]/S.O. 2429 (E) DATED 24-10-2011 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules

Posted in Income Tax | 2 comments | 15273 Views