CBDT Corner

Govt rules out extension of IDS, 2016 beyond Sept 30, Envisages no further clarifications

CBDT envisages that no further clarifications shall be issued in relation to the Income Declaration Scheme, 2016 (‘the Scheme’) given

Sep 03,2016

CBDT's pro-taxpayer clarification clips enquiry scope on IDS-related documents found during search/survey

CBDT issues clarification for allaying apprehensions relating to income/asset declared under Income Declaration Scheme, 2016 vis-à-vis search/ survey operation; CBDT restricts the scope

Sep 02,2016

CBDT – Devises action-plan for effective implementation of the Dispute Resolution Scheme

CBDT issues internal instruction for sensitizing CIT(A) in order to effectively implement the Direct Tax Dispute Resolution Scheme, 2016 (‘the Scheme’), introduced

Sep 02,2016

CIT-CPC, Bengaluru to exercise concurrent powers in respect of declarations under IDS, 2016

CBDT directs CIT - Centralized Processing Centre (‘CPC’), Bengaluru to exercise the concurrent powers and functions in relation to declarations

Sep 01,2016

CBDT extends due date for filing of form 15G/H declarations to Oct 31

CBDT extends the due date for filing of return of form 15G and form 15H received for the period from

Aug 31,2016

CBDT relaxes August 31 account-closure deadline for financial institutions under FATCA

CBDT relaxes August 31 account-closure deadline for financial institutions under Rule 114H(8) of the FATCA Rules in respect of self-certifications not obtained

Aug 31,2016

CBDT – Extends ROI due-date further to Sept.30 in J&K pursuant to general-life dislocation.

CBDT further extends due-date for filing return of income from August 31, 2016 to September 30, 2016 for assessees in

Aug 30,2016

CBDT : Streamlines assessment of foreign shipping companies, revises guidelines for issuing NOC/Port Clearance

CBDT issues circular streamlining assessment of foreign shipping companies u/s 172, lays down guidelines for issuance of No Objection Certificate

Aug 27,2016

CBDT sets Dec 31st cut-off for ‘eligible projects’ approval for Sec 35AC deduction purposes

CBDT sets December 31st deadline for approval of Eligible Projects or Schemes u/s 35AC; Sec 35AC provides deduction to assessee in respect of amount paid to a

Aug 19,2016

CBDT: Asset holding period clarification in IDS FAQs applicable only to immovable property

With respect to fifth set of FAQs released yesterday, CBDT further clarifies that ‘period of holding’ clarification issued in Question

Aug 19,2016