The Ministry of Finance has issued a press release dated 14.08.2013 inviting comments and suggestions on the draft “Safe Harbour Rules” proposed to be inserted by way of Rules 10TA to Rule 10TG in the Income-tax Rules, 1962. The Rules have been framed based on the recommendations of the Rangachary Committee
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Year: 2013
Tax Administration Reform Commission Set Up
The Ministry of Finance has issued a press release dated 13.08.2013 stating that the Union Cabinet has approved the proposal for setting up of the Tax Administration Reform Commission (TARC)
CBEC Service-tax VCES FAQ 2013 Is Available For Download
The CBEC has released a publication titled “Service Tax – Voluntary Compliance Encouragement Scheme (VCES), 2013 – Frequently Asked Questions” in which all doubts and apprehensions raised by taxpayers have been answered by the CBEC in the form of FAQs. For ease of reference, the statutory provisions and the ST VCES Rules containing the VCES forms are also included in the booklet
CBEC Clarification Circular On Service-Tax VCES
The Central Board of Excise and Customs(CBEC) has issued Circular No. 170/5 /2013 – ST dated 08.08.2013 providing important clarifications as to the scope and applicability of the Service Tax Voluntary Compliance Encouragement Scheme (VCES)
CBDT Criteria For Selection Of Scrutiny Cases In FY 2013-14
The CBDT has issued Instruction No. 10 of 2013 dated 05.08.2013 announcing the procedure and criteria for selection of scrutiny cases under the compulsory manual for FY 2013-14. The guidelines appear to have been issued pursuant to the direction of the Delhi High Court in Joginder Pal Gulati vs. OSD – CPIO
CBDT Directive Regarding Special Counters For Filing Returns
The CBDT has vide letter dated 31.07.2013 stated that special counters have been opened for acceptance of returns on Saturday and Sunday to facilitate taxpayers
CBDT Press Release On Extension Of Due Date For Filing ROI Upto 05.08.2013
The CBDT has issued a Press Release stating that the due date for filing of returns u/s 139(1) of the Income-tax Act, 1961 is extended to August 5, 2013
ITAT Bar Resolution On Measures To Tackle Alleged Corruption In ITAT
The ITAT Bar Association has passed an important resolution in which it has offered objective and practical suggestions on how to tackle the menace of alleged corruption in the ITAT
CBI Press Release And Statement Of ITAT Vice President In Response
The Central Bureau of Investigation (CBI) has issued a press release regarding a case registered against Shri. G. E. Veerabhadrappa, Vice-President of the Income Tax Appellate Tribunal, Mumbai u/s13(2) r/w 13(1)(e) of the Prevention of Corruption Act 1988 for alleged possession of unaccounted assets to the tune of Rs 3.92 crores. In response, Shri. G. E. Veerabhadrappa has issued a brief statement
CBDT Directive Regarding Grant Of TDS Credit In Mismatched Cases
Pursuant to the judgement of the Delhi High Court in Court on Its Own Motion vs. UOI 352 ITR 273, the CBDT has issued Instruction No. 5/2013 F.No.275/03/2013-IT(B), dated 8.07.2013 stating that when an assessee approaches the AO with requisite details and particulars in the form of TDS certificate as evidence against any mismatched amount, the AO will grant credit of TDS to the assessee after ascertaining whether the deductor has made payment of the TDS to the Government
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