Cbdt

Government Releases New Income Tax Compounding Rules

Business | Press Trust of India | Monday June 17, 2019

CBDT has issued a revised 32-page guideline for 'compounding of offences under direct tax laws, 2019' which will be executed under the I-T Act, 1961

Lok Sabha Elections: Top Court Gives Centre 24 Hours To Produce Status Report On Cash Seizure Cases

India News | Written by A Vaidyanathan | Tuesday May 7, 2019

The Supreme Court today asked the centre to come up with a status report on all the cases related to cash seizures made during the 2014 and 2019 Lok Sabha elections within 24 hours.

PAN Card Aadhaar Card Linkage Deadline Extended by 6 Months to September 30

Gadgets 360 Staff | Tuesday April 2, 2019

PAN Card Aadhaar Card linking deadline was set for March 31, but has now been moved forward 6 months.

Quoting Aadhaar In Income Tax Return Compulsory "Unless Specifically Exempted": Taxman

Business | NDTV Profit Team | Monday April 1, 2019

The CBDT has said that the cut-off date for intimating Aadhaar and linking it with PAN is September 30, 2019 "unless specifically exempted". The DBDT or Central Board of Direct Taxes is the top policy-making body for the Income Tax Department.

Income Tax Department To Probe 3 Lakh De-Registered Firms For Money Laundering

Business | NDTV Profit Team | Friday March 29, 2019

The CBDT has also asked the tax offices to undertake this special task and bring under their ambit the time period (over last two years) when these companies were struck off from the records of the Ministry of Corporate Affairs (MCA).

Direct Tax Collections Fall Short Of Target By 15%, Tax Body Raises Alarm

Business | Indo-Asian News Service | Thursday March 28, 2019

The Central Board of Direct Taxes (CBDT) frames policy for the I-T department and is also its controlling authority that functions from the North Block in the Finance Ministry.

Income Tax Department Asked To Maximise Revenue Collection, Boosts Taxpayer Base

Business | Press Trust of India | Thursday February 28, 2019

The central government had earlier this month appointed PC Mody as the chairman of CBDT.

Aadhar-Pan Linking Mandatory For IT-Returns, Says Tax Body

India News | Press Trust of India | Saturday February 16, 2019

The CBDT has stressed that Aadhaar-PAN linking is "mandatory" for those filing an Income Tax Return (ITR) and this procedure has to be "completed" by March 31 this year.

CBDT Chairman Sushil Chandra Appointed New Election Commissioner

India News | Edited by Anindita Sanyal | Thursday February 14, 2019

CBDT Chairman Sushil Chandra has been appointed as the new election commissioner

Angel Tax: Government Says Final Solution In 5 Days, No Relief On Existing Orders

Business | Written by Alisha Sachdeva | Tuesday February 5, 2019

The DPIIT will work with the CBDT to grant exemption from the angel tax to all DPIIT-registered Level-I start-ups, in what has been the long-standing demand of the start-up and angel network to the government.

Assessments To Be "Completely Faceless" In Few Years, Says Taxman

Business | Press Trust of India | Monday February 4, 2019

Income tax assessment: The Income Tax Department has said it is working on the initiative to make the process faceless. Last year, about 2.06 lakh income tax assessments were completed in a faceless manner, according to the chairman of Central Board of Direct Taxes (DBDT), the apex policymaking body of the Income Tax Department.

Non-Filers Asked To Submit Income Tax Returns Within 21 Days: 10 Things To Know

Business | NDTV Profit Team | Wednesday January 23, 2019

If you haven't filed your income tax return yet, you have few days left to do so to avoid legal proceedings. Individuals who have not filed their income tax returns (ITR) for the assessment year 2018-19 should do the same within 21 days to avoid proceedings under the Income Tax Act, news agency IANS (Indo-Asian News service) reported citing a gover...

Tax Body Directs Taxman To Maximise Collection Efforts As Growth Rate Not Satisfactory

Business | Press Trust of India | Sunday January 6, 2019

The CBDT chief also suggested some "strategies" to be adopted and implemented to achieve the targets.

"Positive Impact Of Notesban": High Growth Rate Highlight Of Tax Report

India News | Press Trust of India | Tuesday December 4, 2018

The Income Tax Department has mopped up over half the kitty of the targeted direct tax revenue for this fiscal -- at more than Rs 6.63 lakh crore -- riding at a record "high growth rate of last seven years" that was also propelled by demonetisation, a latest report of the CBDT has said.

Tax Body Issues Fresh Directive On 'Limited Scrutiny' Assessment Cases

Business | Press Trust of India | Thursday November 29, 2018

This will allow the tax officials to widen the scope of such probes if they receive "credible" information of tax evasion by assessees.