News digest: Shell companies, dividend yield, ITC versus HUL, and more

The CBDT has also written to all principal chief commissioners of income tax, expressing concerns that action against these dormant companies with tax liabilities has been limited

1. Banned shell firms come under tax scanner; CBDT asks govt to give details

Apprehensive that shell companies that have been struck off or are in the process of being so might dodge taxes, the Central Board of Direct Taxes (CBDT) has asked the Ministry of Corporate Affairs (MCA) and registrar of companies (RoCs) to give details relating to them.

It also asked the MCA to keep the tax department posted before striking off any company because the firm could have tax dues.

The tax department said it must have details relating to these companies, including their tax liabilities, by May 31.