The CBDT has issued Instruction No. 15/2015 dated 16.10.2015 in which it has set out revised and updated guidance for implementation of transfer pricing provisions. The Instruction sets out the circumstances in which a reference can be made to the TPO by the AO, the role of the TPO when such a reference is made, the role of the AO after determination of the ALP by the TPO, etc. The Instruction is of crucial importance to all taxpayers and professionals engaged in the practice of transfer pricing law

The CBDT has issued a press release dated 14.10.2015 stating that the condition of obtaining the certificate for claiming expenditure under section 80DDB in respect of specified ailments from a specialist working in a Government hospital has been amended. As per amended Rule 11DD, the prescription can be issued by any specialist mentioned in the amended Rule. Henceforth, it will not be mandatory to obtain a certificate from a specialist working in a Government hospital

The CBDT has issued Office Order No. 198 of 2015 dated 13.10.2015 stating that in order to address the large pendency before DRPs at Mumbai and Bengaluru, the CBDT has decided to create additional Benches i.e. DRP-3 at Mumbai DRP-2 at Bengaluru until further orders

The CBDT has issued Instruction No. 14/2015 in which important directives have been set out with regard to framing of scrutiny assessments in cases of assessees engaged in the business of Mining Click here to download CBDT Instruction No. 14/2015 …

CBDT Instruction Reg Framing Of Scrutiny Assessments In Cases Of Assessees Engaged In The Business Of Mining Read More »

The CBDT has issued a directive dated 07.10.2015 in which it has noted that the implementation of its previous directive that Assessing Officers should give prompt and proper effect to the appeal orders of the CIT(A) is found wanting. The CBDT has sternly directed the Pr. CCsIT, DGsIT and CCsIT to urgently monitor that the Assessing Officers give timely effect to the CIT(A)’s order and that there is no grievance caused to taxpayers

Dr Hasmukh Adhia, Revenue Secretary, Government of India, has tendered a public apology for the harassment meted out to taxpayers owing to the CBDT’s adamant stand in not extending the due date for filing the return of income despite the department being clearly at fault for delay in preparing the forms.

The issue of extension of last date for e-filing returns of income and audit reports u/s 44AB due by 30th September, 2015 has been the subject matter of litigation in various High Courts across the country. While some High Courts have ruled in favour of the extension of due date, some others have ruled otherwise. In order to avoid discrimination between taxpayers residing in different jurisdictions and to be fair to all, and also in view of paucity of time to approach the Hon’ble Supreme Court by way of Special Leave Petition (SLP), the Government has decided that across the country, all the returns of income and audit reports u/s 44AB which were due for e-filing by 30th September, 2015, may now be filed by 31st October, 2015