Circlar No. 1 of 2018, dated January 10, 2018. Click Here
Conduct of Assessment Proceeding Electronically.... Instruction No. 8/2017. Click Here
Section 220 of the IT Act 1961- Cllection and Recovery. (Letter) 6-9-2017 Click Here
Latest Notifications under Income Tax Law. Click Here
Rule 114B of Income-tax Rules Amended Click Here
* Clarification regarding attaining prescribed age of 60 years/80 years on 31st March itself, in case of senior/very senior citizens whose date of birth falls on 1st April, for purposes of Income-tax Act, 1961 – Regarding.- vide Circular No. 28 of 2016, [F.No. 225/182/2016/ITA.II],dated 27-07-2016. * Finance Act, 2016 – Notification under section 187 – Commencement of section 187 – Amendment.- vide Notification No. 59/2016, [F.No. 142/8/2016-TPL], dated 20-07-2016. * Finance Act, 2016 - Direct Tax Dispute Resolution Scheme, 2016 - Implementation of. -vide Letter [F.No. 279/MISC/M-74/2016 - ITJ], dated 18-07-2016.
* Notification under section 92C(2) of I.T. Act, 1961 regarding.- vide Notification No. 57/2016, [F.No. 500/1/2014-APA-II], dated 14-07-2016. * Direction regarding scope of enquiry in cases under “Limited Scrutiny” selected through CASS 2015 and 2016 – regarding. – vide Circular/Instruction No. 5 of 2016, [F.No. 225/269/2016/ITA-II], dated 14-07-2016. * Compulsory manual selection of cases for scrutiny during the financial year 2016-17 – regarding. – vide Circular/Instruction No. 4 of 2016, [F.No. 225/176/2016/ITA-II], dated 13-07-2016. * Information & documents in respect of a valid declaration made under ‘the Income Declaration Scheme, 2016’ shall not be disclosed. - vide Notification No. 56/2016, [F.No. 142/8/2016-TPL], dated 06-07-2016. * Applicability of section 197A(1D) and section 10(15)(viii) of the Income-tax Act, 1961 to interest paid by IFSC Banking Units (IBUs) – Clarification regarding.- vide Circular No. 26/2016, dated 04-07-2016. * Fair market value and reporting requirement for Indian concern – Indirect transfer provisions – section 9(1) of the Income-tax Act, 1961 – regarding. - vide Press Release, dated 30-06-2016.
* Issue of further clarifications (FAQs) under Income Declaration Scheme, 2016. - vide Press Release, dated 30-06-2016. * Clarifications on the Income Declaration Scheme, 2016.- vide Circular No. 25 of 2016, [F.No. 142/8/2016-TPL], dated 30-06-2016.
* Clarifications on the Income Declaration Scheme, 2016 by CBDT. vide Circular No. 24 of 2016, [F.No. 142/8/2016-TPL], dated 27-06-2016.
* Amendment in section 206C of the Income-tax Act vide Finance Act 2016 – Clarifications regarding. - vide Circular No. 23/2016 [F.No. 370142/17/2016-TPL], dated 24-06-2016. * Rule 37BC inserted. Rule 37BC relates to relaxation of tax at higher rate under section 206AA. Form 27Q amended. - vide Notification No. 53/2016, [F.No. 370142/16/2016-TPL], dated 24-06-2016.
* Corrigendum to Notification No. 46/2016 dated 17th June, 2016 relating to no deduction of tax on payments of the nature specified in section 10(23DA) received by any securitisation trust. – Section 197A(1F).- vide Notification No. 52/2016, [F.No. 275/16/2016-IT(B)], dated the 23-06-2016.
* CBDT notifies procedure for online e-filing of TDS or TCS returns through e-filing portal (i.e. https://incometaxindiaefiling.gov.in/) - vide Notification No. 11/2016 [F.NO. DGIT(S)-ADG(S)-2/E-Filing Notification/106/2016], dated 22-06-2016.
* Clarification regarding News Report on Arrest of Tax Defaulters – regarding.- vide Press Release dated 21-06-2016. * Threshold Limit of tax audit under section 44AB and section 44AD – clarification regarding.- vide Press Release dated 20-06-2016.
* The Finance Minsiter on 18-06-2016 allowed subscribers of the Public Provident Fund (PPF) to prematurely close the deposit scheme after completing five years. Notification is as follows.- vide Notification No. F.No. 1/04/2016-NS.II, dated 18-06-2016.
* No deduction of tax on Payments of the nature specified in section 10(23DA) received by any securitisation trust. – Section 197A(1F) - vide Notification No. 46/2016, [F.No. 275/16/2016-IT(B)], dated 17-06-2016.
* Some Payments to banks or to payment systems company given exemption from TDS under section 197A(1F) of I.T. Act, 1961.- vide Notification No. 47/2016, [F.No. 275/53/2012-IT(B)], dated 17-06-2016.
* Due date for quarterly furnishing of 15G/15H declarations received from 1-4-2016 onwards and from 1-10-2015 to 31-3-2016 specified. - vide notification number 9 dated 09-06-2016.
* CBDT has issued clarifications in question answer form regarding tax collection at source on sale of motor vehicles u/s 206C (1F) - vide circular dated 8-6-2016. * Cost inflation index for financial year 2016-17 notified at 1125 vide notification dated 2-6-2016. *
1st June, 2016 notified as date on which equalisation levy shall come
into force and equalisation levy rules notified vide notifications dated
27-5-2016. * 31st Dec. 2016 date notified before
which declaration can be made under Direct tax Dispute Resolution
Scheme, 2016 and Rules notified vide notifications dated 26-5-2016.
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