CBDT Corner

CBDT-Extends ROI due-date further to Dec. 31 in Jammu & Kashmir

CBDT further extends due-date for filing return of income and reports of audit for AY2016-17 for all categories of taxpayers

Oct 19,2016

Key changes in new share buy-back tax rules vis-à-vis draft rules

CBDT’s final share buy-back tax rules u/s 115QA provide formula for computing amount received by  company in respect of shares issued  as

Oct 18,2016

CBDT notifies final rules for share buy-back tax computation u/s 115QA

CBDT introduces new Rule 44BB for computing amount received by the company in respect of issue of share for computing

Oct 18,2016

Electronically filed declarations under IDS “valid”, clarifies CBDT

CBDT allows electronic mode of communication as valid mode of service for issuance of Form -2 (filed as acknowledgement of

Oct 14,2016

CBDT: Sec 194I TDS inapplicable on lumpsum lease premium not adjustable against periodic rent

CBDT clarifies that payment of one-time upfront lease charges (which are not adjustable against periodic rent) for acquiring long-term leasehold

Oct 13,2016

CBDT: Direct tax collections upto September 2016 register 8.95% growth

CBDT Press Release reveals net direct tax collections up to September, 2016 at Rs.3.27 lakh crore thereby registering a growth

Oct 12,2016

CBDT notifies application form u/s 270AA for seeking immunity from new penalty provisions

CBDT notifies new application form u/s 270AA(2) to be made to the assessing officer for seeking immunity from levy of penalty

Oct 07,2016

CBDT Member Shri. Gopal Mukherjee to hold additional charge of Member(A&J)

Shri. Gopal Mukherjee, Member Revenue CBDT to hold additional charge of Member (A&J) with immediate effect; Shri. Mukherjee to also

Oct 07,2016

Finmin invites pre-budget suggestions from Trade / Industry Associations for direct-tax & IDT changes

Finance Ministry invites suggestions from Industry & Trade Associations for Budget 2017-18 in relation to changes in duty structure, rates

Oct 06,2016

CBDT: Prescribes methodology for computing deduction u/s 35ABA for telecom spectrum fees

CBDT inserts new Rule 6A prescribing methodology for ascertaining “payment has actually been made” for the purposes of newly inserted

Oct 06,2016