CBDT Corner

CBDT highlights 7 red flags to identify post-demonetisation cash deposit cover-ups

CBDT's internal note to the Senior Revenue officers highlights taxpayers trying to build an explanation for cash deposits in their

Nov 25,2017

Govt sets up Tax Force to draft new direct tax legislation

Govt sets up Tax Force to draft new tax code

Nov 22,2017

CBDT: Issues draft notification u/s. 115JG (1) relating conversion of foreign banks’ Indian branch into subsidiary

CBDT issues draft notification u/s. 115JG(1) specifying the conditions to be fulfilled upon conversion of Indian Branch of foreign bank

Nov 17,2017

CBDT lays down guidelines for issuing intimation proposing adjustments u/s. 143(1)(a)(vi)

CBDT lays down guidelines regarding applicability of Sec. 143(1)(a)(vi) of the Act while processing income-tax returns filed in Forms ITR-2,

Nov 15,2017

CBDT : Relaxes indirect transfer provisions on investment funds' multi-tier structures to avoid double taxation

CBDT addresses concerns raised by private equity and venture capital funds that non-resident funds set-up as multi-tier investment structures suffer

Nov 08,2017

CBDT : Re-constituted Multi Agency Group to monitor ‘Paradise Papers’ investigations, assures 'swift action'

CBDT alerts the Investigation units to take note of ‘Paradise Papers’ revelations (scooped by leading newspaper Indian Express) for immediate appropriate

Nov 06,2017

CBDT: Cash purchases upto Rs. 2 lakhs of agricultural produce from cultivator not disallowable u/s. 40A(3)

CBDT clarifies that cash sales of agricultural produce by its cultivator to the trader less than Rs. 2 lakhs will

Nov 03,2017

CBDT confirms due-date extension to Nov. 7, issues notification

CBDT confirms tax due-date extension news broken by Taxsutra a while ago; Tweet from Tax Dept handle: “Due date for filing

Oct 31,2017

CBDT extends tax audit due date till Nov. 7

CBDT extends tax audit due date till Nov. 7

Oct 31,2017

CBDT's POEM clarification for India based regional HQ operations comes with GAAR rider

CBDT issues clarification on POEM applicability to multinational companies with regional headquarter structure wherein certain employees having multi-country responsibility or oversight

Oct 24,2017