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CBDT extends I-T deductions on donations made to Patanjali research trust

In a shot in the arm for yoga guru Ramdev-run Patanjali group, the Income Tax Department has extended tax deductions on donations made to Patanjali Research Foundation Trust for five years.

Businesses need not deduct TDS on share purchases via exchanges: CBDT

Businesses had said there are practical difficulties in implementing the provisions of Tax Deduction at Source (TDS) contained in a rule.

GST: A turning point?

The recent upsurge in revenues offers the prospect of the country breaking out of the long-stagnant tax-to-GDP ratio

CBDT Chairman Mody's tenure ends; Mohapatra given additional charge

J B Mohapatra, a 1985-batch Indian Revenue Service officer, was on Monday given the additional charge as CBDT chairman after the extended tenure of incumbent P C Mody ended, a government order said

I-T dept goes after hospitals taking cash payment to treat Covid patients

Response from Minister of State for Finance Anurag Thakur and I-T department is carried at the end of the story

Showing PAN-Aadhaar for Covid treatment not practical: Experts

It would have been more effective, they say, if the exemption in cash payment had been given without any caveats and for a longer period

Net direct tax mop up exceeds revised estimates at Rs 9.45 trn in FY21

Direct tax collection target set in the revised estimates (RE) for 2020-21 was Rs 9.05 lakh crore.

Glitch-free faceless assessment addressed industry fears: P C Mody

Of the 57,985 cases picked for assessment during its pilot last year, orders have been passed in 46,822 cases

New ITR forms aligned with changes in Finance Act: Check details here

Presumptive taxation provisions allow companies below a threshold to not keep detailed accounts of books.

Top corporate houses pay 20% more tax this fiscal, shows CBDT data

HDFC Bank tops the list, followed by SBI

CBDT may take measures to correct withholding tax anomaly for FPIs

The CBDT is expected to rectify the same either in the Finance Bill or the I-T Act

Direct tax collection inches closer to revised Budget target for 2020-21

The direct tax collection target for FY21 saw a significant fall from Rs 13.19 trillion estimated earlier in view of the economic impact of the pandemic

FPIs bat for common platform to avail Budget benefit on dividends

Tax consultants and custodians are also putting heads together to standardise the kind of documents needed to be furnished by FPIs, which can be acceptable to all companies

CBDT Chairman P C Mody gets further extension for three months

Mody is a 1982-batch Indian Revenue Service officer, was appointed as the CBDT chief in February 2019

21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman

In a Q&A, P C Mody says while income tax slabs have been left untouched, more money is being put in the hands of taxpayers with faster refunds. Tax administration reforms will boost tax compliance

Rs 95,000-cr disputed sum settled under 'Vivad se Vishwas': CBDT chairman

This relates to entities resolving long pending litigation issues with the Income Tax Department

Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

Gujarat HC serves notice on Centre over interest on delayed payments

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit

Direct tax compliance set to be made easier in upcoming Budget

Budget may resolve issues related to administration

Relaxed norms to help MSMEs get AEO recognition

At present, there 791 entities with AEO-LO recognition, 3,206 parties with AEO-T1 recognition, 581 parties with AEO-T2 recognition, and 20 parties with AEO-T3 recognition