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CBDT issues draft norms for taxing buy back of unlisted shares

Central Board of Direct Taxes (CBDT) Monday came out with draft rules for determining the quantum of distributed income arising out of buy back of shares of unlisted companies for levy of tax.

CBDT prepares 9 lakh special cases; to confront taxpayers

The CBDT on Monday cautioned lurking stash holders saying it has prepared a database of about "nine lakh pieces" of instances of high-value transactions and it will soon "confront" them with this information as part of its exercise to ensure timely declarations under the ongoing one-time black money window.

Issue upto Rs 5,000 refunds fast and quick: CBDT to I-T dept

CBDT has directed the Income Tax department to "expeditiously" issue refunds worth Rs 5,000 for last three assessment years in order to provide immediate relief to taxpayers.

Black money: Income Declaration Scheme is not a seasonal sale, says FM Jaitley

Black money: Income Declaration Scheme is not a seasonal sale, says FM Jaitley

Refusing demands to make the Income Declaration Scheme 2016 more attractive, Finance Minister Arun Jaitley on Thursday said the IDS is "not a seasonal sale".

 

Black money window: CBDT issues notification to ensure secrecy

Black money window: CBDT issues notification to ensure secrecy

CBDT on Monday issued a fresh notification making it clear that information about those who declare their black money under the compliance window, ending September 30, will be kept secret.

 

Blackmoney window: CBDT orders rationing of taxman's leave

Pulling out all the stops to make the ongoing one-time black money window scheme a success, the CBDT has ordered regulation of leave of all Income Tax department officials over the next three months.

Black money window: FM Jaitley to meet industry chambers, CAs today

Black money window: FM Jaitley to meet industry chambers, CAs today

Finance Minister Arun Jaitley will meet industry associations on Tuesday to clear doubts about the four-month window provided to holders of undeclared wealth to come clean.

Black money window: CBDT issues fresh FAQs; PAN mandatory

Black money window: CBDT issues fresh FAQs; PAN mandatory

CBDT on Monday issued a set of fresh FAQs to clarify doubts about the processes of the one-time black money window as it stated that furnishing PAN number will be mandatory for the declarant while cases of non-filing of ITRs will be eligible to apply but with certain conditions.

TCS to be levied above Rs 2 lakh only if payment in cash: CBDT

TCS to be levied above Rs 2 lakh only if payment in cash: CBDT

CBDT has issued a new circular clarifying that the Tax Collected at Source (TCS) levy will not be applicable when cash part of the payment for certain goods or services is less than Rs 2 lakh, even when the total payment is more than this amount.

Publicise blackmoney scheme at posh markets, malls: CBDT to IT

Publicise blackmoney scheme at posh markets, malls: CBDT to IT

CBDT has directed the Income Tax department to step up publicity of the ongoing one-time blackmoney compliance window by advertising it at posh markets, clubs and showrooms and also ensure full privacy to those making disclosures for better collections.

Ensure single point contact for black money disclosures: CBDT

Ensure single point contact for black money disclosures: CBDT

To ensure confidentiality, the Income Tax Department has mandated only senior officers to be a single point of contact for those making disclosures under the one-time window provided to black money holders to come clean.

Rajasva Gyan Sangam: PM Modi asks tax officers to remove fear of harassment among taxpayers

Rajasva Gyan Sangam: PM Modi asks tax officers to remove fear of harassment among taxpayers

Inaugurating the two-day Rajasva Gyan Sangam at Vigyan Bhavan today, PM Modi asked tax officers to move towards digitisation and make tax administration better and efficient.

 

PM Narendra Modi to inaugurate Rajasva Gyan Sangam today

PM Narendra Modi to inaugurate Rajasva Gyan Sangam today

Prime Minister Narendra Modi will hold an interactive session with the top brass of the two revenue collection arms of the government -- CBDT and CBEC -- during a first-of-its-kind 'Rajasva Gyan Sangam' on Thursday.

 

PM Modi to hold interactive session with taxmen at Revenue 'Gyan Sangam'

PM Modi to hold interactive session with taxmen at Revenue 'Gyan Sangam'

Prime Minister Narendra Modi will hold an interactive session with the top brass of the two revenue collection arms of the government -- CBDT and CBEC -- during a first-of-its-kind 'Rajasva Gyan Sangam' to be held here on June 16.

Black money window: IT dept to publish list of asset valuers

Black money window: IT dept to publish list of asset valuers

The Income Tax department will soon put out a list of registered valuers of various categories of assets for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened Wednesday.

Compliance window for domestic black money opens tomorrow

Compliance window for domestic black money opens tomorrow

Under the Income Declaration Scheme, persons making disclosure of unaccounted assets will be given time up to November 30 to pay taxes, penalty and surcharge totalling 45 percent at the fair market value.

 

FIs can obtain self-certification via internet banking: CBDT

FIs can obtain self-certification via internet banking: CBDT

Under the FATCA and CRS, Financial Institutions (FIs) can now obtain self-certification through internet banking platform from the user account where the customer has transaction rights, the CBDT said on Friday.

Not just cash transactions, IT officials also tracking Facebook posts for foreign tour photos!

Not just cash transactions, IT officials also tracking Facebook posts for foreign tour photos!

IT officials are now tracking Facebook account of the offenders to dig out information from them.

IT dept's PAN-Aadhaar linkage crosses 50-lakh mark

The Income Tax department's ambitious plan to link its PAN number database with Aadhaar has crossed the 50-lakh mark.

 

CBDT sets August 31 as deadline for clearing pending ITRs, refunds

CBDT sets August 31 as deadline for clearing pending ITRs, refunds

Taxpayers have been advised to check their status of pending returns for the said AYs at the IT department website for e-filing -- http://incometaxindiaefiling.Gov.In/. They can log in by using their PAN number and specific year of assessment.