Page 22 - Cbdt

CBDT notifies 10-IC, 10-ID forms for firms to avail lower corporate taxes

Form 10-IC will have to be filed by the companies that wish to avail the beneficial rate of 22 per cent upon relinquishment of the exemptions/incentives offered under the Income Tax Act.

Confident of meeting Rs 11.7-trn direct tax collection target in FY20: CBDT

Income tax collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion

Vivad se Vishwas: CBDT to collect data on direct tax cases in high courts

The CBDT has asked the regional Income Tax Department chiefs to "personally monitor" the exercise

Budget paved way for perfect ecosystem for startups in India: CBDT

CBDT Chairman P C Mody said most of the issues pertaining to startups were already addressed in last budget

10% TDS only on dividend payment by mutual funds, clarifies CBDT

CBDT clarification removed uncertainty over treatment of capital gains

New tax slabs proposed in Budget to benefit taxpayers: CBDT chairman

The set target for revenue collection (personal income tax, corporate tax and others) was Rs 13.35 trillion for the 2019-20 financial year that ends on March 31

Income mismatch probe: 5,000 companies under tax department lens

The Central Board of Direct Taxes has directed its tax sleuths to intensify enforcement action and launch search-and-survey operations against these firms

Looking at Budget with hope for making offshore funds India-friendly

The objective of introducing this Section was to ensure offshore funds do not pay incremental tax just because those are managed out of India.

CBDT extends till Jan 31 deadline for compounding of I-T offences

The earlier deadline was December 31, 2019

Firms won't be allowed to adjust MAT credit if they opt for lower tax: CBDT

Experts say new tax rates not attractive to companies enjoying tax holidays

CBDT wants taxmen to fastrack redressal of grievances ahead of PM's review

The directive issued by the Board on Tuesday comes ahead of Prime Minister Narendra Modi's scheduled review of CPGRAMS (Centralized Public Grievance Redress and Monitoring System) on January 8

Govt to fine firms with over Rs 50 cr revenue for not accepting UPI, RuPay

Companies with turnover of over Rs 50 crore to pay Rs 5,000 per day as penalty

Dispose of 5-year-old pending cases by March, CBDT tells officials

There are about 31,000 pending cases, locking revenue worth Rs 500 crore

Mukesh Ambani family case: I-T department seeks details from seven nations

According to the I-T department, the Ambani family refuted all the charges in the show-cause notice and submitted the copy of GDR offer documents on June 7 for RUPL along with other documents

CBDT extends all I-T returns filing deadline for J&K, Ladakh to January 31

The CBDT order also said the returns filed by taxpayers, post the earlier set deadline of November 30, will also be considered valid

CAA: CBDT extends advance tax payment deadline for Northeast to Dec 31

Earlier, the deadline was Sunday, December 15

Link your PAN with Aadhaar before Dec 31; it's mandatory, says I-T dept

Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must intimate his Aadhaar number to tax authorities.

CBDT quizzes senior officers over cancellation of Tata Trusts' registration

The Trusts is of the view that the cancellation should apply retrospectively as it had offered to surrender the registration in 2015

Top 10 business headlines: RBI pauses on rate cut, GST slab raise & more

From RBI keeping rate cut unchanged, tough road for Subhash Chandra's Essel to Saudi Aramco raising $25.6 bn in largest-ever IPO, Business Standard brings you the top headlines of the day.

CBDT issues draft notification on fund managers' remuneration, seeks inputs

The CBDT has sought inputs from stakeholders on draft notification proposing amendments December 19