CBDT Corner

Digital tax administration, effective enforcement action among new CBDT Chairman's 7 priorities

Incoming CBDT Chairman Sushil Chandra, in his communication to IRS officers, outlines 7 priorities for tax department; Digital tax administration,

Nov 03,2016

CBDT: Higher profit-linked deduction under Chapter VI-A admissible on profits enhanced by business disallowances

CBDT clarifies on admissibility of higher deduction claim under Chapter VI-A on enhanced profits owing to disallowances made while computing

Nov 02,2016

CBDT: Reiterates "sum chargeable to tax" not gross amount subject to Sec. 40(a)(i) disallowance

CBDT reiterates that for the purposes of disallowance of "other sum chargeable" u/s 40(a)(i), in case of non-residents, the basis

Nov 02,2016

Sushil Chandra appointed new CBDT Chairman

Sushil Chandra appointed new CBDT Chairman

Nov 01,2016

CBDT-Chairperson highlights gaps in tax collections, calls for personal monitoring by senior officers

CBDT Chairperson, Ms. Rani Singh Nair, calls for close monitoring of tax collections in the wake of 5% gap between current direct

Oct 27,2016

CBDT issues second round of Certificates of Appreciation to 10.15 lakh tax-payers

In the second round, CBDT issues Certificates of Appreciation to another 10.15 lakh taxpayers for their contribution towards Nation building;

Oct 26,2016

CBDT notifies conditions for “deemed demerger” of an erstwhile public sector company

CBDT notifies conditions for ‘deemed demerger’ with respect to erstwhile PSU companies’ split-up; Taxation Laws (Amendment) Act, 2016 has amended

Oct 26,2016

CBDT : Extends return processing time-limit for AYs 2012-13 to 2014-15, enables grant of refund

CBDT issues order u/s 119 extending time-limit for issue of intimation u/s  143(1) in non-scrutiny cases for AYs 2012-13 to

Oct 26,2016

CBDT : Clarifies wider tax exemption for compensation under 'land-acquisition law', to cover non-agricultural land

CBDT issues clarification regarding taxability of compensation received by land owners towards land acquired under the Right to Fair Compensation

Oct 25,2016

CBDT releases draft ‘FMV valuation’ rules for computing Trust’s ‘accreted income’

CBDT releases draft rules prescribing fair market value (‘FMV’) based valuation methodology under newly inserted Chapter XII-EB relating to levy

Oct 25,2016