There will be a change in the constitution of the Bombay High Court’s Tax Bench w.e.f. 13.08.2019
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Only the latest & most important updates on taxation
Month: July 2019
Imp CBDT Clarification Reg Disclosure Of Long-Term Capital Gain In Income Tax Return
The CBDT has issued an important clarification regarding the requirement to furnish scrip wise details of long term capital gains in Schedule 112A and 115AD(1)(iii)
CBDT Demands 100% Disposal Of Appeals By CsIT(A)
The CBDT has sent the clear signal in the Central Action Plan 2019-20 that it will no longer tolerate the lethargy of CsIT(A) in the matter of disposal of appeals. It has pointed out that huge tax demands are locked up in these appeals. It has stipulated that 100% of appeals involving demands of Rs. 50 crore should be disposed off
ITAT Indore Bench Celebrates Golden Jubilee
Indore Bench of ITAT was set up on 2nd June 1969 and completed glorious 50 years discharging its function efficaciously and effectively in the justice delivery mechanism on direct tax matters. There have been several landmark decisions which have held their fort right up to the Apex Court
Reduce Court Holidays To Improve Efficiency & Reduce Pendency Of 3.5 Cr Cases: Economic Survey 2019
The Economic Survey 2019 has identified several root causes for the mammoth pendency of 3.5 crore cases in Courts. It has offered valuable suggestions for improving efficiency, which includes reducing the number of holidays that the Courts merrily take at the cost of the poor litigant
Download Finance (No. 2) Bill 2019
The Finance (No. 2) Bill 2019 as presented in Parliament today is available for download
CBDT Circular Clarifies Taxability Of Non-Residents’ Income From Off-shore AIF Investments
The CBDT has vide Circular No. 14/2019 dated 3rd July 2019 provided important clarification regarding the taxability of income earned by non-resident
investors from off-shore investments routed through an Alternate Investment Fund
Income-Tax Dept Will Become ‘Corruption Free’ Soon: Finance Minister
Smt. Nirmala Sitharaman, the Hon’ble Finance Minister, has released statistics which prove that the Income-tax department is indeed a dreaded den of corruption. In the year 2018 itself, 1441 complaints were received by the CBDT from hapless taxpayers against the officials of the Department. The Finance Minister has solemnly assured Parliament that the Government is taking strict action against such officials. She has also listed out the several steps which have been taken by the Government to ensure corruption free tax administration in the Country
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