Page 4 - Central Board Of Direct Taxes

Refund charges imposed on e-payments since Jan this year: CBDT to banks

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

Refund charges taken since Jan 1 on UPI, RuPay payments: Tax dept to banks

To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU, in the Finance Act, 2019

I-T dept to intimate taxpayers under scrutiny about faceless assessment

A Section142(1) notice is sent to an assessee to inquire about details and documents before making assessment under the Income Tax Act

Faceless scheme: Revenue officers seeks change in role, service conditions

IRS Association proposes to redraft transfer and deputation policy, seeks rebranding of IRS

Tax mop-up from metros sees double-digit decline; Kolkata worst-hit city

Numbers pose challenges to Centre's Rs 13.2-trn target

Not taken into confidence for faceless assessment scheme: Tax officers

In a letter to the CBDT Chairman P C Mody, the association has highlighted the unease among 97 per cent of the I-T department workforce with respect to the implementation of the scheme

Rules amended for faster resolution of MNCs' tax disputes under MAP

The move will help in speedy settlement of cases of multinational corporations which have opted for the alternative dispute resolution process

New Form 26AS is faceless hand-holding of taxpayers to e-file returns: CBDT

Taxpayers will see an improved Form 26AS carrying some additional details on taxpayers' financial transactions as specified in the statement of financial transactions (SFTs) in various categories

Income Tax dept adds new features in 26AS Form to help taxpayers

The new variant of 26AS Form will have taxpayers' details as specified statements of financial transactions (SFTs) in various categories

I-T dept issues refunds worth Rs 71,229 cr to 2.1 million taxpayers

The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for quick processing of their refunds

Sovereign wealth funds to get tax relief on infrastructure bets: CBDT

CBDT notifies changes that will also apply to pension funds

Limit expenses or won't sanction them: CBDT to HoDs in cost-cutting drive

Issues letter to heads of department asks to adhere to financial power

Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds

Collections may come under pressure once the base effect wears off

India, European nations may soon tax digital firms as US upends global plan

United States pulled out of global talks to put in place a multilateral instrument to bring these companies in the tax net.

I-T department issues refunds worth Rs 26,000 cr to around 1.7 mn taxpayers

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to tackle the economic impact of Covid.

DGS has to take a call on waiving detention charges

The CBIC has also instructed field formations to make special efforts to dispose of all pending refund and drawback claims through a "special refund and drawback disposal drive"

GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak

The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms from routing transactions through other countries to avoid taxes

Be flexible with your financial plan, don't make big commitment

Clearly, these are unusual times. So, things need to be done differently

Covid-19 crisis: Govt extends validity of e-way bills; gives relief in ITC

The Centre has also deferred the application of restricted input tax credit (ITC) of 10% under goods and services tax (GST), providing relief to industry

Vivad se Vishwas: Let this be the last scheme

We need innovative solutions to address tax litigation