CBDT Corner

CBDT: Withdraws circular on Sec. 56(2)(viia) applicability to ‘fresh’ issuance of shares; Cites subjudice matters

CBDT withdraws Circular no. 10 dated December 31, 2018 clarifying that Sec. 56(2)(viia) shall not be applicable in cases of receipt

Jan 05,2019

CBDT Chairman raises apprehension about regular assessment tax collection, urges enhanced efforts

CBDT Chairman cautions about growth rate of gross direct tax collection being lower than required rate that can adversely impact

Jan 04,2019

CBDT notifies annual circular for TDS on salary for FY 2018-19

CBDT notifies annual circular for TDS on salary for FY 2018-19.

Jan 02,2019

CBDT notifies National Iranian Oil Company for the purposes of Sec. 10(48) exemption

Considering the national interest, CBDT notifies the National Iranian Oil Company, as the foreign company for the purposes of Sec.

Jan 02,2019

CBDT: Sec. 56(2)(viia) inapplicable to receipt of ‘freshly issued shares’ by closely held co.

CBDT clarifies that Sec. 56(2)(viia) shall not be applicable in cases of receipt of shares by a closely held company(specified

Dec 31,2018

Copy of CBDT notification notifying New India-Hong Kong DTAA

Copy of CBDT notification notifying New India-Hong Kong DTAA

Dec 27,2018

CBDT issues Explanatory Notes to the provisions of the Finance Act, 2018

CBDT issues Explanatory Notes to the provisions of the Finance Act, 2018.

Dec 26,2018

No coercive measures on start-ups to recover demand w.r.t additions u/s 56(2)(viib), directs CBDT

CBDT directs AOs not to take coercive action till further instructions, to recover outstanding demand in case of start-ups if

Dec 24,2018

CBDT: Carves out exceptions from online application for nil/lower TDS / TCS Certificates

CBDT carves out 2 exceptions from online filing of Form 13 for lower/nil deduction TDS / TCS certificates u/s 197/206C(9)

Dec 24,2018

CBDT- Permits belated submission of income accumulation statements by Trusts for AY 2016-17

CBDT authorizes CITs to admit belated applications by Trusts in Forms 10 / 9A [Statement regarding accumulation or setting apart

Dec 20,2018

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