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CBDT NEW GUIDELINES
New form for correction in PAN related details: CBDT notifies new online and offline forms for modification in PAN card details; check the guideline and how it worksThe Central Board of Direct Taxes has introduced new forms for correcting PAN card details. These forms, PAN CR-01 for individuals and PAN ...- Income tax department issues revised guidelines for compounding of offencesOn Thursday, the income tax department announced revised guidelines for compounding offences under the I-T law, simplifying the process and...
- Now a VIP or PMO can help you to expedite pending tax appeals; Know how to file request for expeditionCBDT has revised the situations when a individual or income tax assessing officer (AO) can file a request for expedition of tax appeal case...
- Now, life insurance maturity money will not be fully tax-exempt: CBDT issues new tax rulesThe Central Board of Direct Taxes (CBDT) has issued guidelines on how tax exempt portion from life insurance policies will be calculated (b...
- I-T dept committees on high-pitched assessments to submit report in about 2 months: CBDTThe local committees have been created in each region of the income tax department, that are headed by a principal chief commissioner rank ...
- Clarificatory circular on new TDS provisions for banks soon, says CBDT chairmanWhile the CBDT had issued a set of guidelines in June with regard to the applicability of the newly introduced section 194R in the Income T...
- Income Tax survey to be conducted only after nod from high-ranked officers, says CBDTThe CBDT has issued directions to the officers that where any survey action is required by officers of "Central Charge" (involving search/ ...
- All communication with taxpayers to be from NeAC under faceless assessmentAll the functions would be through electronic means for which the NeAC will be the gateway and will function as such for all the flow of in...
- CBDT issues new guidelines for compoundingThe latest guidelines from the Central Board of Direct Taxes, which come into effect from June 17, clearly state offences in this category ...
- CBDT warns taxman against roving, fishing scrutiny inquiriesThe policy-making body of the department has asked assessing officers to not "travel beyond the issue" and not to randomly or unauthorisedl...
- Restaurants that are still making you pay service charge could now face big tax blowThe move comes after the department issued advisories for making service charge voluntary, and restaurants continued to ignore the governme...
- Experts seek more clarity on PoEM norms, seek FAQs from CBDTTax experts have sought greater clarity from CBDT on draft PoEM norms that aim to determine the tax residency of companies.
- CBDT lists norms for faster refund in pending tax demand casesThe CBDT has issued guidelines for expeditious tax refund of up to Rs 5,000 in cases where the department wants to adjust the refund with a...
- Eyeing consistency, CBDT streamlines transfer pricing normsIt also said a similar guidance note will be issued to deal with transfer pricing cases pertaining to domestic transaction within the group.
- Undisclosed foreign bank accounts: CBDT issues guidelines for compounding of offencesThe CBDT clarified that the matter was examined in consultation with the Special Investigation Team (SIT) on black money.
- CBDT sets up committee to simplify tax proceduresCBDT has constituted a committee to redraft existing guidelines for undertaking write-off procedures in irrecoverable tax demand cases.
- File appeal in court based on merit of case: CBDT to Income-Tax departmentThe CBDT said the new set of guidelines have been issued as there have been "several instances wherein department has had to face criticism.
- Govt warns tax deductors who fail to deposit TDS by due dateIn a stern warning, the Revenue department today said tax deductors who default in depositing TDS by due date will be liable for prosecutio...
- Free samples to doctors to be now considered as taxable incomeDoctors getting free samples of medicines, gifts should now be prepared to pay tax as such freebies will be calculated as taxable income.
- Govt to notify guidelines on ESOPs within a weekThe guidelines will give respite to companies to find out the manner for calculating liability under FBT. TideTwenty20
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