Page-3 of CBDT

Update : Erroneous reports about the Filing of Income tax Return

July 17, 2019

There were several reports in the social media that a few taxpayers were facing issues in filing the returns. What had happened? Unverified reports in the social media claimed that the large scale changes were made in the Income-tax Return ..

Preliminary Report of Standing Committee on Finance

June 25, 2019

The Preliminary Report of the Standing Committee on Finance was tabled in the Parliament. The report titled Status of Unaccounted Income/Wealth Both Inside and Outside the Country A Critical Analysis makes the following observations: The committee s report was based ..

Terror Monitoring Group for Jammu and Kashmir

April 1, 2019

The Union Home Ministry has announced setting up of a Terror Monitoring Group (TMG) to ensure synergised and concerted action against terror financing and terror-related activities in Jammu and Kashmir. Mandate of the Terror Monitoring Group Taking action against hardcore ..

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Govt relaxes norms for Start-ups

February 20, 2019

The government has relaxed the norms under the definition of Start-Ups. The changes brought in are: The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore. ..

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61 Individuals Declared Annual Income of Over Rs 100 Crore

February 9, 2019

As per the information provided by Minister of State for Finance Pon Radhakrishnan to the Lok Sabha 61 individuals who declared an income of more than Rs 100 crore during the assessment year 2017-18. Even though the numbers have increased sharply ..

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PIL in Supreme Court against govt’s order to snoop on computers

December 26, 2018

A PIL has been filed in the Supreme Court by advocate Manohar Lal Sharma challenging the government’s notification authorising 10 central agencies to intercept, monitor and decrypt any computer system. What was the Order of the Home Ministry? As per ..

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Akhilesh Ranjan appointed as Convenor of Task Force drafting New Direct Tax Legislation

November 27, 2018

Union Finance Ministry has appointed Akhilesh Ranjan, Central Board of Direct Taxes (CBDT) member as Convenor of Task Force that is drafting New Direct Tax Legislation (Law). He will replace Arbind Modi who retired in September 2018. The other members ..

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PK Dash, Akhilesh Ranjan and Neena Kumar inducted as members of CBDT

November 10, 2018

Appointments Committee of the Cabinet (ACC) has appointed three senior IRS officers K Dash, Akhilesh Ranjan and Neena Kumar as new members of Central Board of Direct Taxes (CBDT). All three members belong to 1982-batch of the Indian Revenue Service ..

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Government receives Rs. 3,000 crore from MNCs that have entered into APAs

September 4, 2018

Union Government has received Rs. 3,000 crore of additional tax from MNCs that have entered into advance pricing agreements (APAs) with it over last five years and also has eliminatedbig source of tax litigation. It was revealed in recently released ..

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Government raises threshold monetary limit for filling appeals relating to tax cases

July 13, 2018

Union Finance Ministry has hiked threshold monetary limit for tax departments to file appeals all three levels of appeal — Appellate Tribunals, High Courts, and Supreme Court. The move is aimed at significantly decreasing taxpayer greivances and litigation burden of ..

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