Page 15 - Cbdt
Mukesh Ambani family case: I-T department seeks details from seven nations
According to the I-T department, the Ambani family refuted all the charges in the show-cause notice and submitted the copy of GDR offer documents on June 7 for RUPL along with other documents
 "Mukesh Ambani family case: I-T department seeks details from seven nations")
CBDT extends all I-T returns filing deadline for J&K, Ladakh to January 31
The CBDT order also said the returns filed by taxpayers, post the earlier set deadline of November 30, will also be considered valid
 "CBDT extends all I-T returns filing deadline for J&K, Ladakh to January 31")
CAA: CBDT extends advance tax payment deadline for Northeast to Dec 31
Earlier, the deadline was Sunday, December 15
 "CAA: CBDT extends advance tax payment deadline for Northeast to Dec 31")
Link your PAN with Aadhaar before Dec 31; it's mandatory, says I-T dept
Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must intimate his Aadhaar number to tax authorities.
 "Link your PAN with Aadhaar before Dec 31; it's mandatory, says I-T dept")
CBDT quizzes senior officers over cancellation of Tata Trusts' registration
The Trusts is of the view that the cancellation should apply retrospectively as it had offered to surrender the registration in 2015
 "CBDT quizzes senior officers over cancellation of Tata Trusts' registration")
Top 10 business headlines: RBI pauses on rate cut, GST slab raise & more
From RBI keeping rate cut unchanged, tough road for Subhash Chandra's Essel to Saudi Aramco raising $25.6 bn in largest-ever IPO, Business Standard brings you the top headlines of the day.
 "Top 10 business headlines: RBI pauses on rate cut, GST slab raise & more")
CBDT issues draft notification on fund managers' remuneration, seeks inputs
The CBDT has sought inputs from stakeholders on draft notification proposing amendments December 19
Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT
Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate
 "Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT")
DTC report should be entirely implemented: CBDT member Akhilesh Ranjan
These are recommendations looking at the country's needs, immediate requirements, concerns, and the plans of the government, says Ranjan
 "DTC report should be entirely implemented: CBDT member Akhilesh Ranjan")
Tax benefits for traders as CBDT approves NSE's commodity derivatives
Exchange gets 'Recognised Association' status, due to which participants can set off losses in commodity derivatives against business gains
 "Tax benefits for traders as CBDT approves NSE's commodity derivatives")
NSE commodities segment gets CBDT recognition, traders to get tax benefit
The approval will benefit traders in relation to trading in commodity derivatives segment of the NSE as the derivative income will be treated as business income
 "NSE commodities segment gets CBDT recognition, traders to get tax benefit")
In fifth such crackdown, govt retires 21 more 'corrupt' tax officers
CBDT compulsorily retired 21 Group B officers of the rank of Income Tax Officer under Fundamental Rule 56 (J) in the public interest due to corruption and other charges and CBI traps
 "In fifth such crackdown, govt retires 21 more 'corrupt' tax officers")
I-T detects Rs 735-cr financial fraud in raids on BMC contractors
The operation "also led to the detection of the use of bogus companies (floated by entry providers) for giving entries to businesses in the form of loans or bills for expenses, among others".
 "I-T detects Rs 735-cr financial fraud in raids on BMC contractors")
At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer
 "At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target")
I-T dept detects Rs 350-cr undisclosed income in raid on Chennai institute
"Cash of about Rs 5 crore and jewellery of more than about Rs 3 crore were seized in the said action.
 "I-T dept detects Rs 350-cr undisclosed income in raid on Chennai institute")
NIIF Infrastructure Finance set for a tax dispute with I-T department
The company is seeking an exemption since 2015, while the I-T department has notified the fund only from April 1 this year
 "NIIF Infrastructure Finance set for a tax dispute with I-T department")
Rs 5k cr dues declared under Sabka Vishwas Scheme, likely to gain traction
Senior CBIC officials are confident the scheme is likely to gain further momentum in the coming days as taxpayers would not forego this opportunity.
 "Rs 5k cr dues declared under Sabka Vishwas Scheme, likely to gain traction")
I-T dept unearths Rs 3,300-crore hawala racket involving infra firms
The Board, the policy-making body for the I-T department, however, did not identify the entities raided
 "I-T dept unearths Rs 3,300-crore hawala racket involving infra firms")
I-T Department conducts searches on business group; 28 premises covered
A total of 28 premises were covered in search action, including 15 under Section 132 and 13 under Section 133A
 "I-T Department conducts searches on business group; 28 premises covered")
Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune
The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.
