Page 23 - Cbdt

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

Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT

Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate

DTC report should be entirely implemented: CBDT member Akhilesh Ranjan

These are recommendations looking at the country's needs, immediate requirements, concerns, and the plans of the government, says Ranjan

Tax benefits for traders as CBDT approves NSE's commodity derivatives

Exchange gets 'Recognised Association' status, due to which participants can set off losses in commodity derivatives against business gains

NSE commodities segment gets CBDT recognition, traders to get tax benefit

The approval will benefit traders in relation to trading in commodity derivatives segment of the NSE as the derivative income will be treated as business income

In fifth such crackdown, govt retires 21 more 'corrupt' tax officers

CBDT compulsorily retired 21 Group B officers of the rank of Income Tax Officer under Fundamental Rule 56 (J) in the public interest due to corruption and other charges and CBI traps

I-T detects Rs 735-cr financial fraud in raids on BMC contractors

The operation "also led to the detection of the use of bogus companies (floated by entry providers) for giving entries to businesses in the form of loans or bills for expenses, among others".

At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target

The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer

I-T dept detects Rs 350-cr undisclosed income in raid on Chennai institute

"Cash of about Rs 5 crore and jewellery of more than about Rs 3 crore were seized in the said action.