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Finance Ministry

Govt to soon issue clarification on applicability of surcharge on...

FM Sitharaman proposed to increase surcharge from 15 pc to 25 pc on taxable income between Rs 2 cr and Rs 5 cr.

9 July 2019 8:30 AM IST

Interestingly, the CBDT chiefs move to make officers comply by seeking a compliance report every three months gives room for hope for justice for the taxpayer.

Govt working as an accountant for every taxpayer: CBDT Chairman

The CBDT Chairman said he is confident of achieving the Rs 13.35 lakh crore target for direct tax collections in...

6 July 2019 5:16 PM IST

Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes.

2 pc TDS on cash withdrawals of over Rs 1 crore from Sep 1: Tax dept

If a person has already withdrawn Rs 1 cr or more in current fiscal, the 2 pc TDS shall apply on all subsequent cash...

31 Aug 2019 10:58 AM IST

FPIs had invested over Rs 20,000 crore in the capital market in September 2016.

Surcharge rollback creates no differential regime between FPIs,...

FM on Friday announced the withdrawal of enhanced surcharge on short-term and long-term capital gains earned by FPIs.

28 Aug 2019 2:01 PM IST

Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Elimination of angel tax to uplift sentiment in the start up community

These steps shows government's resolve towards ease of doing business in India and encourage entrepreneurship.

27 Aug 2019 10:06 AM IST

Startups have also appealed that the government should also consider eliminating Minimum Alternate Tax for startups, which are DIPP certified.

CBDT's procedure for pending angel tax assessment cases to help...

Government is seeking to calm the nerves of startups worried about angel tax.

16 Aug 2019 10:26 AM IST

Interestingly, the CBDT chiefs move to make officers comply by seeking a compliance report every three months gives room for hope for justice for the taxpayer.

All communication from tax dept to assessees to carry DIN from Oct 1:...

The CBDT has also specified exceptional circumstances where the communication could be issued manually.

14 Aug 2019 7:13 PM IST

Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes.

CBDT issues FAQs on filing tax returns to help taxpayers

The FAQs are based on the queries received by the CBDT to help assessees file ITRs.

12 Aug 2019 10:34 AM IST

Startups have also appealed that the government should also consider eliminating Minimum Alternate Tax for startups, which are DIPP certified.

Relief for startups: CBDT lays out procedure for pending angel tax...

More than 540 startups have received exemption from angel tax so far.

9 Aug 2019 9:05 AM IST

Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Tax force on direct taxes gets more time to submit report

The government has allowed the task force to submit its report by 16th of August 2019.

1 Aug 2019 10:56 AM IST

The Income Tax (IT) department on Wednesday announced that a dress code is being imposed upon its employees through the rollout of Operation Dress Code.

Taxpayer without e-filing a/c, PAN to not be eligible for I-T...

The CBDT, which frames policy for the Income Tax Department, issued a circular on Thursday stating exceptions to the new...

27 Sept 2019 7:08 PM IST

CBDT has made available in the Compliance Module on the e-filing portal of the Income Tax Department the information relating to the identified non-filers.

CBDT launches one-time facility for compounding of income tax offences

In order to avail the facility a taxpayer will have to file an application for compounding a tax offence before the...

12 Sept 2019 12:07 PM IST