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Ministry of Corporate Affairs, CBDT ink MoU for Automatic and Regular Exchange of Information
The Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT) have signed Memorandum of Understanding (MoU) for automatic and regular exchange of tax information. The purpose of the MoU is to curb the menace of shell companies, ..
Month: Current Affairs - September, 2017
CBDT signs 4 more Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) has entered into four more Advance Pricing Agreements (APAs), pertaining to sectors like telecom, banking, manufacturing and education in August 2017. Out of these four agreements, three were unilateral and one was bilateral. ..
Month: Current Affairs - September, 2017
Rajaswa Gyan Sangam 2017 held in New Delhi
The 2017 Rajaswa Gyan Sangam, a two-day annual conference of senior tax administrators was held at Vigyan Bhawan, New Delhi. It was inaugurated Prime Minister Narendra Modi. The conference was jointly organised by Central Board of Direct Taxes (CBDT) and ..
Month: Current Affairs - September, 2017
CBDT inks 9 Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) has entered into 9 Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in July, 2017. With this, total number of APAs signed till date stands at 171 (Bilateral-12 and Unilateral-159). The nine APAs ..
Month: Current Affairs - July, 2017
Income Tax Department launches Operation Clean Money-II
The Income Tax department has launched the second phase of the ‘Operation Clean Money’ to investigate over 60,000 individuals with an aim to detect black money generation post demonetisation. The Central Board of Direct Taxes (CBDT), the policy-making body of the ..
Month: Current Affairs - April, 2017
CBDT inks 10 more Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) has entered into 10 more Advance Pricing Agreements (APAs) pertaining to various sectors of economy like Telecom, Banking & Finance, Pharmaceutical, Steel, Retail and IT etc It includes 7 Unilateral APAs, 2 Bilateral ..
Month: Current Affairs - March, 2017
CBDT signs four unilateral Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) under the Department of Revenue, Union Ministry of Finance has entered into four more unilateral Advance Pricing Agreements (APAs). These four APAs are related to Manufacturing, Financial and Information Technology sectors. They cover ..
Month: Current Affairs - February, 2017
CBDT extends deadline of Direct Tax Dispute Resolution Scheme
The Central Board of Direct Taxes (CBDT) has extended the last date for availing the Direct Tax Dispute Resolution Scheme to January 31, 2017 from the earlier deadline of December 31, 2016. This extension aims to give companies one more ..
Month: Current Affairs - December, 2016
CBDT inks 2 unilateral APAs with taxpayers
The Central Board of Direct Taxes (CBDT) signed two unilateral Advance Pricing Agreements (APAs) with Indian taxpayers pertain to the Information Technology and automobile sectors. The international transactions covered in these two agreements include software development services, IT enabled services ..
Month: Current Affairs - December, 2016
India and UK sign three Bilateral Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) signed three Bilateral Advance Pricing Agreements (APAs) with the Competent Authority of United Kingdom (UK) to reduce tax litigation. Earlier both countries had exchanged mutual agreements amongst them under the Mutual Agreement Procedure ..