Page 8 - Central Board Of Direct Taxes

NIIF Infrastructure Finance set for a tax dispute with I-T department

The company is seeking an exemption since 2015, while the I-T department has notified the fund only from April 1 this year

I-T Department conducts searches on business group; 28 premises covered

A total of 28 premises were covered in search action, including 15 under Section 132 and 13 under Section 133A

Only 1.5 million entities declared short-term capital gains in FY18

This is less than a fifth of total number of investors and an even smaller fraction of total demat accounts in existence

Income-tax officials give thumbs down to govt's faceless assessment move

Dubbed an important initiative in tax reforms, the government launched the faceless assessment scheme in a bid to eliminate the interface between the assessee and the tax officer

CBDT extends deadline on final assessment of post-demonetisation cases

This is the second extension given by the Board in this case after the first deadline of June 30 was extended up to September, the official said

Govt waives three-year lock-in period on investments made by NRIs in IDFs

With an aim to accelerate and enhance flow of long-term debt in infrastructure projects, amendments in the tax laws were made to provide exemption from income tax to infrastructure debt funds in 2011

Monetary limits won't matter in organised tax evasion, says CBDT

It has been reported that in many cases, tribunals and high courts have recognised the unique modus operandi involved in such scams, and have passed judgements in favour of the revenue

Overlooked for chairman post, CBDT Member Akhilesh Ranjan seeks retirement

Ranjan, who headed the tax force on direct taxes, has sought retirement from the service owing to "family and personal reasons," say sources

Revenue department to brief PMO on Rs 1.67-trillion tax shortfall

Despite a cut in the income tax collection target in the full Budget compared to the interim Budget projections, the target is far from realistic

New direct tax code panel report to overhaul I-T Act delayed by 15 days

This is the second extension for the taskforce under the CBDT member Akhilesh Ranjan

CBDT to conduct nationwide review of tax collection for FY18 today

In December, the CBDT had revised the target for direct tax collection to Rs 10 trillion, which includes personal income tax and corporate tax, up from the budgeted Rs 9.8 trillion

Don't inquire beyond jurisdiction in limited scrutiny cases: CBDT to taxmen

CBDT only brings less than 1% of ITRs or cases under the rigorous scrutiny procedure

Redress refunds, PAN related complaints within 30 days: CBDT to IT dept

The letter also mentioned that over 20,000 grievances of the taxpayers were disposed of since the beginning of this year till November 13

Cheque deposit machines coming soon at Ayakar Seva Kendras

The tax department will roll out several such initiatives, including expeditious refund in case the mismatch in TDS filing

Foreign stash cases:India not to press secrecy clause in all cases

The Central Board of Direct Taxes whenever such requests are made they should be backed by "evidence"