CBDT Corner

CBDT:Clarifies on seized-cash adjustment, trade-advance taxability u/s. 2(22)(e), TDS applicability on airline’s PSF payment

CBDT clarifies that Explanation 2 to Sec. 132B (debarring adjustment of seized cash against advance tax liability) is prospective  in nature, accepts the view taken

Jun 12,2017

CBDT: Notifies operating rules for TDS on rent payment exceeding Rs. 50k by individuals / HUFs

CBDT notifies operating rules and forms with respect to Sec. 194IB (inserted by Finance Act, 2017)  to provide for TDS

Jun 12,2017

India submits provisional list of expected reservations on MLI

India submits provisional list of expected reservations and notifications to be made by it pursuant to Articles 28(7) and 29(4)

Jun 07,2017

India signs historic Multilateral Instrument on BEPS, alongwith over 65 countries

Over 65 countries, including India sign historic Multilateral Instrument in Paris, that will amend thousands of bilateral tax treaties, with

Jun 07,2017

CBDT amends Rule 31(3A) regarding claiming TDS refund, enables electronic verification

CBDT amends Form 26B and sub-rule 3A of Rule 31A relating to claiming refund of excess TDS deposited by deductor;

Jun 07,2017

CBDT notifies cost inflation index for FY 2017-18 with new base year as FY 2001-02

CBDT notifies cost inflation index of 272 for FY 2017-18 with new base year as FY 2001-02; Notification shall come

Jun 07,2017

Govt issues final rules on Sec 10(38) capital - gains exemption carve-outs; ESOPs, approved M&As get relief

CBDT issues final notification u/s 10(38) providing for exceptions to long term capital gains exemption where STT is not paid

Jun 06,2017

CBDT amends due date for issue of Form 16 from May 31 to June 15

CBDT issues Notification No. 42/ 2017, amends Rule 31(3) specifying due date of furnishing of Form 16 (relating to TDS)

Jun 05,2017

CBDT: Announces transfers/postings of Asst. / Dy. CITs in Delhi region

CBDT orders transfers / postings of 24 officers in the cadre of Assistant/Deputy Commissioners of Income-tax in the Delhi region,

Jun 02,2017

CBDT announces local as well as inter-city transfers / postings of Pr. CCITs/CCITs

CBDT announces inter-city transfers/postings of 51 officers in the grade of Principal Chief Commissioner of Income-tax (‘CCIT’)  / Principal Director

Jun 01,2017