CBDT Corner

CBDT: Notifies procedure for registration & Form V submission by Banks under PMGK Deposit scheme

CBDT notifies procedure for registration and submission of Form V by authorised banks under Pradhan Mantri Garib Kalyan Deposit Scheme,

Jan 02,2017

CBDT amends Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

CBDT amends Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

Dec 30,2016

CBDT grants one month extension for filing declarations under Direct-tax Dispute Resolution Scheme

CBDT extends deadline for Direct Tax Dispute Resolution Scheme by one month; Amends the earlier notification number S.O. 1902(E) dated

Dec 30,2016

CBDT issues Circular explaining provisions of PMGKY, 2016

CBDT issues Circular No. 43 of 2016, explaining the provisions of the taxation and investment regime for PMGKY, 2016 as

Dec 28,2016

Vodafone-like Sec 9 retrospective amendment cases covered by Direct Tax Dispute Resolution Scheme, 2016

CBDT issues 8 FAQs on the Direct Tax Dispute Resolution Scheme, 2016 (‘Scheme’); CBDT clarifies that assessee would be eligible

Dec 26,2016

CBDT clarifies on cash-sales reporting; Rs 2 lakhs threshold applicable for 'each' transaction

CBDT clarifies that Rs. 2 lakh threshold under Rule 114E for reporting of cash transactions relating to sale of goods/services

Dec 23,2016

Govt. issues corrigendum, now retrospectively rescinds Cyprus blacklisting notification

Indian govt. issues corrigendum, retrospectively rescinds Cyprus notification u/s 94A; Revised notification now inserts word "the", replacing the word  "this"

Dec 19,2016

Political parties exempt u/s 13A also subject to scrutiny, clarifies CBDT

CBDT clarifies on media reports suggesting no scrutiny of accounts of political parties under Income-tax Act in context of deposit

Dec 19,2016

Demonetization related amendments to Income-tax Act receive President’s assent

The Taxation Laws (Second Amendment) Bill, 2016 containing demonetization related amendments to Income-tax Act  receive President’s assent on December 15

Dec 16,2016

Govt. rescinds Cyprus notification u/s 94A

Government rescinds 2013 notification issued u/s 94A treating Cyprus as a non-cooperative jurisdiction; Government states that earlier notification is rescinded

Dec 16,2016