CBDT to settle foreign funds' claims within a month
The Income Tax department has directed its officers that cases of foreign institutional investors (FIIs) seeking tax exmption under the Double Taxation Avoidance Agreements (DTAAs) with other countries must be decided within a month of claim filing.
Apr 27, 2015, 19:06 PM IST
CBDT to settle FII tax claims under DTAAs in a month
Seeking to quickly resolve the controversial tax issue facing foreign portfolio investors, the CBDT on Friday said all claims coming under the ambit of DTAAs will be settled within a month of being filed.
Apr 24, 2015, 23:08 PM IST
Govt meets FIIs on tax issues, offers DTAA relief to MAT-hit investors
In a relief to foreign investors slapped with Rs 40,000 crore tax demands, the government Wednesday said such levies would not be applicable to the entities based in countries having double taxation avoidance pacts with India, while others can approach the courts for reprieve.
Apr 22, 2015, 17:42 PM IST
Soon, PAN card to be issued in 48 hours flat!
The government will soon launch a facility under which a PAN card will be issued within 48 hours of applying.
Apr 21, 2015, 23:44 PM IST
Now EPIC or Aadhaar document enough to get PAN card
An EPIC or Aadhaar document will now be enough for any individual to obtain PAN card as the Income Tax Department has relaxed the cumbersome procedure of having multiple documents to prove one's own identity.
Apr 20, 2015, 17:41 PM IST
End of paper trail in e-filing of I-T returns; Aadhaar added
In a major step aimed at easing taxpayer grievances, CBDT on Friday announced that assessees filing I-T returns online will no longer have to send the paper acknowledgement by post as a new Aadhaar-based electronic verification code has been launched to authenticate this document.
Apr 17, 2015, 20:33 PM IST
Rollover of MFs beyond 36 months not capital gains: CBDT
In a major relief to investors, the rollover of mutual fund Fixed Maturity Plans (FMP) beyond 36 months will not attract capital gains.
Apr 12, 2015, 13:21 PM IST
CBEC to set up Directorate of Taxpayer Services
The CBEC is celebrating 2015 as the Year of Taxpayer Services in "recognition of the need to have 'customer focus' in our day-to-day functioning".
Apr 05, 2015, 13:47 PM IST
CBDT extends time for filing roll-back applications under APA
The Central Board of Direct Taxes has extended the window for filing roll-back applications under the Advance Pricing Agreement relating to transfer pricing cases by three months to June 30.
Mar 31, 2015, 21:16 PM IST
I-T dept publishes names of 18 tax defaulters, 11 from Gujarat
In a bid to force them these entities paying their dues, the Central Board of Direct Taxes (CBDT) had asked the I-T department to post on its website, few days back, the names of 18 defaulters, of whom 11 are based in Gujarat.
Mar 31, 2015, 10:56 AM IST
Tax shortfall: Finmin asks banks to deposit March TDS by month end
According to official data updated till March first week, TDS collections stood at 7.49 per cent as against 16.69 per cent in the same period last year.
Mar 29, 2015, 18:29 PM IST
CBDT asks I-T dept to act on public grievances after PM's rap
CBDT has called for according a "top priority" to addressing taxpayers' grievances by the Income Tax department after Prime Minister Narendra Modi expressed his disappointment about delays in corrective action and harassment of the assesses by tax officials.
Mar 29, 2015, 16:42 PM IST
CBDT makes public names of 18 tax defaulters who owe Rs 500 crore
Adopting an aggressive approach to increase tax collection, the revenue department for the first time publically named 18 tax defaulters - including Goldsukh Trade and Somani Cements - who owe over Rs 500 crore to the exchequer.
Mar 26, 2015, 17:50 PM IST
Tax collection: CBDT to hold high-level meeting Tuesday
The CBDT will hold a country-wide meeting with top Income Tax department officers Tuesday to review the tax collection work which is scheduled to end on March 31.
Mar 09, 2015, 22:41 PM IST
Acting against tax evasion is not tax terrorism: CBDT chief
Promising to move "two steps" forward to clear the perception of 'tax terrorism', the Tax Department Wednesday said the taxpayers also need to take 'two steps' to ensure their compliance with laws.
Mar 04, 2015, 21:16 PM IST
Onus on suspected offenders to prove overseas funds legal: CBDT
The proposed law on black money will put the onus on the suspected offender to prove the legitimacy of overseas assets, as the Tax Department will begin prosecution on the basis of a "rebuttable presumption", a top tax official said Tuesday.
Mar 03, 2015, 20:36 PM IST
CBDT sets up committee to simplify tax procedures
In yet another step to simplify tax procedures, CBDT has constituted a committee to redraft existing guidelines for undertaking write-off procedures in irrecoverable tax demand cases.
Feb 12, 2015, 21:54 PM IST
CBDT calls meeting for review of tax, TDS collection this week
CBDT will conduct a country-wide review of tax collection work, especially for TDS and arrears, later this week in order to shore up the direct tax revenue kitty for the financial year ending March 31.
Feb 04, 2015, 17:24 PM IST
I-T dept to step up prosecution against TDS defaulters
Concerned over latest shortfall in TDS revenue collections, the Income Tax department has decided to enhance prosecution action against large defaulters with the help of its specialised electronic database and processing centre created for this exclusive task.
Feb 03, 2015, 16:27 PM IST
Shortfall in TDS collections: CBDT asks I-T dept to act
The board, according to sources, asked I-T officials to bolster their efforts and give special emphasis on tax collections under the Tax Deducted at Source (TDS) and Advance Tax categories.
Feb 01, 2015, 10:06 AM IST
