Month: September 2017

The Tax Bench of the Hon’ble Bombay High Court with effect from 3rd October 2017 is as follows

The CBDT has issued Instruction No. 8/2017 dated 29th September 2017 in which it has set out the procedure covering various aspects of conducting scrutiny assessments electronically in cases which are getting barred by limitation during the financial year 2017-2018

For the first time, All India Federation of Tax Practitioners, in association with Karnataka State Tax Practitioners Association and the Institute of tax Practitioners of India is holding a two day national conference at Managalore. The theme of the conference is “GST & Tax professionals- Partners in Nation building” at Gate Hotel Mangalore. The conference, will be inaugurated by Honourable Justice Mr S. Abdul Naseer, Supreme Court of India and Padma Vibhusahn awardee Dr D . Veerendra Heggade, Dharmasthala.

The Ministry of Finance has issued a Corrigendum Notification dated 25th September 2017 in which it has provided clarification with regard to the applicability of GST by way of reverse charge on legal services by advocates including senior advocates and firms of advocates. The corrigendum is presumably issued to correct the ambiguity in the language of the principal Notification which was pointed out by the Delhi High Court in JK Mittal & Co vs. UOI

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The CBDT has issued Notification No. 08/2017 dated 13th, September, 2017 in which it has explained the law relating to TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased

The Directorate of Income Tax (Recovery & TDS) has issued a directive dated 6th September 2017 in which it has explained the salient provisions of the SARFESI Act 2002 and the impact that it has with regard to the right of the department to recover taxes out of attached properties

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The CBDT has issued Order No. 155 of 2017 dated 13th September 2017 by which it has stated that the President has extended the ad-hoc appointment of several IRS Officers to the grade of Joint Commissioner of Income-tax from 1st July 2017 to 15th October 2017

The CBDT has vide Order No. 151 of 2017 dated 8th September 2017 promoted several officers to the grade of Principal Commissioner of Income-tax (Pr CCIT) (level 17 in the pay matrix of Rs. 2,25,000) with effect from the date of assumption of charge of the post or until further orders. The CBDT has also directed the posting of the officers on promotion

The CBDT is on a shopping spree. It has been allocated a whopping sum of Rs. 615 crore by the Finance Ministry ostensibly to “augment the infrastructure” of the Income-tax department. Of this Rs. 264 crore will be splurged, inter alia, on buying mobile phones, laptops etc for the ITOs and Inspectors. It is claimed that this will “improve efficiency & capabilities of the officers & officials of the Department”. The CBDT has invited suggestions on how the balance of the bonanza should be spent by it

The speed with which the Law Ministry and the ITAT have moved with regard to the setting up of the new Bench at Surat has impressed tax professionals and taxpayers. A glittering function was held to inaugurate the Bench on 1st September 2017. The function was attended by several eminent dignitaries. A few photos taken on the occasion are available