News WrapGet Handpicked Stories from our editors directly to your mailbox

Central Board of Direct Taxes

CBDT chief PC Mody gets 1-year extension

A 1981-batch Indian Revenue Service (IRS) officer, Mody had taken charge of the top job in February succeeding Sushil Chandra.

Aug 29, 2019, 13:21 PM IST

CBDT refutes reports on differential regime between domestic investors and FPIs

The government has decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on long/ short term capital gains arising from transfer of equity shares/units referred in section 111A and 112 A respectively.

Aug 28, 2019, 11:50 AM IST

Small start-ups with turnover upto Rs 25 crore will continue to get tax holiday, clarifies CBDT

The Section 80-IAC of the Income Tax Act, 1961 provides deduction for 100 percent of income of an eligible start-up for 3 years out of 7 years from the year of its incorporation.

Aug 23, 2019, 11:43 AM IST

CBDT issues 19 FAQs on ITR forms for Assessment Year 2019-20

The Income-tax return (ITR) forms for the Assessment Year 2019-20 were notified on April 01.

Aug 09, 2019, 13:08 PM IST

CBDT enhances monetary limits for filing of appeals by Income Tax Department

CBDT said that there is a substantial pendency of appeals of the Income Tax Department before various appellate fora, adding that it is aware of the importance of litigation management and has been continuously working towards achieving the same.

Aug 09, 2019, 12:47 PM IST

Ease of tax compliance will promote ease of living: CBDT Chairman

Pre-filling of returns shall be able to reduce errors in tax calculation and also collection. Faceless assessment is a great step. Tax offices will be anonymized and the pain points will be minimized, he added.

Jul 10, 2019, 18:21 PM IST

CBDT extends due date for filing of TDS statement in Form 24Q

It has also extended the due date for issue of TDS certificate in Form 16 for financial year 2018-19 from June 15 to July 10

Jun 05, 2019, 16:01 PM IST

CBDT extends due dates of TDS compliance to deductors in Odisha

CBDT has done so to redress genuine hardship faced by the deductors due to the severe disruption of normal life and breakdown of communication systems caused by cyclone Fani in Odisha.

May 25, 2019, 10:06 AM IST

India notifies pact with US to check tax evasion by MNCs

The agreement, which was signed by Central Board of Direct Taxes Chairman P C Mody and US ambassador to India Kenneth Juster in March, was notified by the revenue department on April 25.

Apr 29, 2019, 16:56 PM IST

CBDT refutes media report on Yeddyurappa diary papers

The Central Board of Direct Taxes (CBDT) on Friday was dismissive about the papers which the Congress claimed to be parts of a diary, saying the loose sheets alleging payment of Rs 1,800 crore by former Karnataka Chief Minister B S Yeddyurappa to top BJP leaders prima-facie appear to be of a doubtful nature and were given by a Congress leader during a raid on him for tax violations.

Mar 22, 2019, 19:47 PM IST

Govt banking on advance tax collection to meet direct tax target of Rs 12 lakh crore

Under the Income Tax Act, any assessee, including salaried employee whose estimated tax liability for an year exceeds Rs 10,000 needs to pay advance tax.

Mar 15, 2019, 15:25 PM IST

CBDT gives 21 days to non-filers to file I-T returns, submit response

Non-filers can file I-T returns, submit response online.

Jan 23, 2019, 11:51 AM IST

En masse issue of prosecution notices to small cos for minor TDS default misleading: CBDT

CBDT said that some defaulter companies and vested interests are deliberately misleading the media to thwart action against themselves.  

Jan 22, 2019, 14:11 PM IST

CBDT allows manual filing by resident, NRI taxpayers for nil or lower TDS certificate

The CBDT has also allowed resident applicants to file manual application in Form No. 13 before the TDS officer or in ASK Centers till December 31.

Dec 26, 2018, 13:56 PM IST

Number of crorepatis has risen by 60% in India: CBDT

Number of salaried taxpayers has increased by 37 percent in India, CBDT said.

Oct 22, 2018, 15:46 PM IST

Govt extends deadline for filing ITR, audit report till October 15

The Central Board of Direct Taxes (CBDT) had received representations from stakeholders seeking extension of the last date for filing of returns by taxpayers whose accounts have to be audited.

Sep 24, 2018, 17:41 PM IST

Income Tax returns deadline extended to September 15 for flood-hit Kerala

Income Tax assessees in Kerala can now file their I-T returns till September 15.

Aug 28, 2018, 21:20 PM IST

PAN-Aadhaar linking deadline extended again till March 2019

As per updated data till March, over 16.65 crore PANs, out of the total about 33 crore, have been linked with Aadhaar.

Jul 01, 2018, 07:07 AM IST

CBDT dedicates June 1-15 for expeditious disposal of pending appeals

The move is aimed to address taxpayers' disputes regarding rectification and adjustments made in tax demands.

Jun 08, 2018, 13:30 PM IST

CBDT chief Sushil Chandra gets another one-year extension

CBDT has six members, apart from the chairman, and is responsible for framing policy related to direct taxes and the Income Tax Department.

May 25, 2018, 15:34 PM IST