CBDT Corner

Major changes in ICDS relating to inventories, contract revenues, forex & securities

Important changes in the revised text of Income Computation and Disclosure Standard (ICDS) released by the CBDT, applicable from AY

Oct 01,2016

Rs. 65,250 cr worth declarations made under IDS, announces pleased FM

Rs. 65,250 cr worth of declarations/disclosures made by  64,274 declarants in Income Declaration Scheme, announces Finance Minister Arun Jaitley; Figures

Oct 01,2016

CBDT re-notifies ICDS text, applicable from AY 2017-18; Tax audit report to disclose impact

CBDT rescinds earlier notification pertaining to Income Computation & Disclosure Standards (ICDS), issues new notification for 10 ICDS; ICDS to

Oct 01,2016

Due-date extension to October 17th, applicable for ALL assessees, clarifies CBDT

CBDT clarifies that extension of ‘due-date’ to October 17th in terms of its earlier orders dated September 9th and 14th

Sep 30,2016

CBDT extends working hours to accept IDS declarations

CBDT extends working hours for receiving IDS declarations, counters to be open till 8.00 pm today i.e. September 29, 2016; Further,

Sep 29,2016

CBDT: Allows non-PAN assessees’ to make IDS declaration by quoting PAN application acknowledgement no.

CBDT allows non-PAN assessees’ to make declaration under the Income Declaration Scheme (‘IDS’) by quoting date and acknowledgement number of

Sep 29,2016

CBDT: Denies 'indexation' under IDS for assets sold pre-Jun'16 & sale-proceeds held in cash

CBDT issues yet another clarification on the Income Declaration Scheme (‘IDS’), clears air on making declaration with respect to sale made

Sep 28,2016

CBDT extends working hours till midnight of 30th September for receiving IDS declarations

CBDT extends working hours till midnight of 30th September for receiving IDS declarations

Sep 27,2016

CBDT: Mandates printing official email id / tel. numbers of AOs on scrutiny notices u/s 143(2)

CBDT issues internal instruction directing income-tax authorities to mention their e-mail address and office telephone number in all notices /

Sep 23,2016

CBDT: Revises Forms 64A / 64B, seeks additional disclosure of business trusts' renting/leasing income exempt u/s 10(23FCA)

CBDT notifies Income-tax (22nd Amendment) Rules, 2016, amends Forms 64A/64B relating to furnishing of income distribution statement by business trusts u/s

Sep 22,2016