CBDT Corner

CBDT enables PAN-application via MCA's common form for new companies

CBDT amends Income Tax Rules to allow Permanent Account Number (PAN) application through notified 'common application form' for newly set-up

Mar 21,2017

CBDT-Clarifies on undisclosed income existence while making declaration under PMGKY

CBDT issues yet another clarification on the Taxation and Investment Regime for  Pradhan Mantri Garib Kalyan Yojana, 2016 (‘PMGKY’); CBDT clarifies

Mar 14,2017

CBDT Chairman urges to expedite disposal of prosecution & compounding cases

CBDT Chairman urges Pr. CCITs to expedite filing of prosecution complaints and disposal of compounding applications; Highlighting the importance of

Mar 09,2017

CBDT Chairman asserts "revenue collection" key parameter for IRS Officers' performance evaluation

CBDT Chairman urges ‘scrupulous’ monitoring of advance-tax, TDS recoveries to meet revenue collection targets; Reiterates ‘revenue collection’ as single most

Mar 07,2017

CBDT clarifies Rs. 50 crore turnover threshold for POEM applicability

CBDT issues circular clarifying that provisions of Sec 6(3)(ii) relating to place of effective management (POEM) won't apply to companies

Feb 24,2017

15 Key takeaways from CBDT’s SOP for on-line cash verification post demonetisation

CBDT’s Standard Operating Procedure (‘SOP’) for on-line verification of cash transactions pursuant to demonetisation, clarifies that AO’s exercise under on-line verification

Feb 22,2017

CBDT: Enlarges scope of disclosure of taxpayers' IT-related information u/s 138, amends 2003 notification

CBDT retrospectively amend its earlier notification no. 137/2003 issued u/s 138(2) so as to harmonize it with the provisions of

Feb 22,2017

CBDT clips AO's powers in preliminary verification of cash-deposits post demonetisation

CBDT releases Standard Operating Procedure (‘SOP’) to be followed by AOs for on-line verification of cash transactions relating to demonetisation;

Feb 22,2017

CBDT: Emphasizes expeditious issue of refunds; Over 1.62 crore refund issued upto Feb.10

CBDT lays emphasis on expeditious issue of refunds; States that CPC has processed over 4.19 crore tax returns while issuing over 1.62 crore refunds

Feb 14,2017

CBDT issues FAQs on "Operation clean money"; 5 lakh unregistered taxpayers identified

5.27 lakh taxpayers respond on Income Tax (IT) Department's ‘Operation Clean Money’ for e-verification of large cash deposits made post demonetization

Feb 13,2017