Month: January 2014

Vide Notification dated 16.01.2014 the CBDT has stated that the President has appointed 123 IRS(IT) officers in the grode of Assistant Commissioners of Income Tax (Junior Scale) in the pay scale of Rs.15,600-39.100/- (Plus the grade pay of Rs.5,400 in P8-3) in a substantive capacity in that grade with effect from the dotes(s) indicated against their names

The CBDT has issued Instruction No. 1/2014 dated 15.01.2014 to the Chief Commissioners stating that though the Citizens Charter prescribes a time limit of one month for a decision u/s 197 on application for no deduction of tax or deduction of tax at lower rate, there is considerable delay in issuing the lower/non deduction certificate. The CBDT has directed that the commitment to tax payers as per the Citizens Charter must be scrupulously adhered to by the Assessing Officers and all applications for lower or no deduction of tax at source filed u/s 197 of the Income-tax Act, 1961 must be disposed of within the stipulated time frame

The CBDT has issued Circular No. 1/2014 dated 13.01.2014 pointing out that the Rajasthan High Court has taken the view in CIT(TDS) vs. Rajashthan Urban Infrastructure (copy attached) that if as per the terms of the agreement between the payer …

CBDT Accepts High Court Verdict Of No TDS On Service-Tax Component Read More »

Kanga and Palkhivala’s – The Law and Practice of Income Tax (in 2 vols) has just been released. The book is a must-have for all tax professionals

Vide Order dated 06.01.2014 the Special Bench in the case of Maersk Global Service Centres (India) Pvt. Ltd has directed that the questions referred to it, relating to whether back office support services are comparable to KPO functions and whether companies earning abnormally high profit margin can be treated as comparable be reframed. The Special Bench has stated that the matter will be heard on 08.01.2014 and that assessees desiring to intervene in the matter should contact the Registry

The Finance Ministry has written a letter dated 24.12.2013 pointing out that the Tax Administration Reform Commission (“TARC”) has been set up to recommended measures to enhance the effectiveness and efficiency of the tax administration system