CBDT Corner

CBDT: Clarifies each loan instalment as separate transaction for Sec. 269ST, notifies further exclusions

CBDT issues notification excluding a few more transaction from purview of Sec. 269ST (provision restricting cash transaction exceeding Rs. 2

Jul 04,2017

CBDT revises Form 3CD regarding information on transactions mentioned in Sec. 269SS & 269T

CBDT revises Form for Tax Audit Report u/s 44AB i.e.form 3CD in respect of disclosure of transactions mentioned in Sec.

Jul 04,2017

Government outlines PAN-Aadhar linking & authentication process, cautions intermediaries on confidentiality

CBDT notifies multiple options for intimating Aadhar number by existing PAN holders & provides for operational guidelines for quoting Aadhar

Jun 30,2017

CBDT: Amends PAN application rules to include Aadhaar details effective July 1

CBDT amends Rule 114 of the Income Tax Rules [relating to Permanent Account Number (‘PAN’) application] consequent to powers conferred

Jun 28,2017

CBDT revises format for Sec 143(2) notices to implement e-assessments

CBDT revises format for issue of notices for assessment u/s 143(2); CBDT issues revised notice format in view of increased

Jun 23,2017

CBDT appoints over 260 Joint CITs on ad-hoc basis

CBDT announces ad-hoc appointment of 263 IRS officers to the grade of Joint Commissioner of Income-tax (‘Jt. CIT’) from  April

Jun 19,2017

CBDT Task Force to create new ecosystem for scrutiny assessments, taxpayer segmentation

CBDT agrees to the broad concept of taxpayer segmentation with differentiated treatment and creation of a "new ecosystem for conducting

Jun 16,2017

CBDT initiates consultation for tax consequences u/s 115JH on foreign company having Indian POEM

CBDT issues draft notification u/s. 115JH specifying tax consequences in respect of foreign company said to be resident on account

Jun 15,2017

CBDT:Clarifies on seized-cash adjustment, trade-advance taxability u/s. 2(22)(e), TDS applicability on airline’s PSF payment

CBDT clarifies that Explanation 2 to Sec. 132B (debarring adjustment of seized cash against advance tax liability) is prospective  in nature, accepts the view taken

Jun 12,2017

CBDT: Notifies operating rules for TDS on rent payment exceeding Rs. 50k by individuals / HUFs

CBDT notifies operating rules and forms with respect to Sec. 194IB (inserted by Finance Act, 2017)  to provide for TDS

Jun 12,2017