Ajay Devgn, the celebrated actor, who has delivered block-buster movies like Singham, Dilwale, Shivaay etc is the latest to fall victim of the heightened scrutiny of the Income-tax department. In keeping with his character as a non-nonsense person, Ajay Devgn is not taking the allegation of the Income-tax department lying down. Instead, he has launched an offensive and termed the assessment as “unfair” and “high pitched”

The CBDT has issued a Notification dated 17th August 2016 by which Rule 3(1)(d) of the Income Declaration Scheme Rules 2016 have been amended to provide that where the acquisition of immovable property by the declarant is evidenced by a deed registered with any authority of a State Government, the fair market value of such property shall, at the option of the declarant, may be taken on the stamp duty value as increased by the same proportion as Cost Inflation Index for the year 2016-17 bears to the Cost Inflation Index for the year in which the property was registered

The Income Declaration Scheme, 2016 came into effect on 1st June, 2016. To address doubts and concerns raised by the stakeholders, the CBDT has issued three sets of FAQs vide Circular Nos. 17, 24, 25 & 27 of 2016. In order to address further queries received from the public relating to the Scheme, the CBDT has issued Circular No. 29 of 2016 dated 18th August 2016

The CBDT Chief has noted that as on date there are 3738 CPGRAMS grievances pending out of which 1073 grievances are overdue i.e. pending beyond the prescribed period of 60 days for disposal. They include 4 grievances which are overdue beyond 1 year, 137 grievances overdue beyond 6 months, 390 grievances which are overdue for a period between three to six months and 542 grievances pending over 2 months to 3 months

The CBDT has vide Orders Nos. 145 and 146 of 2016 dated 18th August 2016 ordered the transfers and postings of several officers in the grade of Assistant and Deputy Commissioners of Income-tax

The CBDT has vide Order No. 143 of 2016 dated 10th August 2016 directed the postings and transfers of several officers in the grade of Commissioner of Income-tax with immediate effect and until further orders

Three eminent bodies of tax professionals have addressed a letter dated 30th July 2016 to Shri. Hasmukh Adhia, the Revenue Secretary of the Government of India, in which they have made representation with regard to several important aspects of the The Income Declaration Scheme 2016. Some of the issues relate to the eligibility of the applicants, the appointment of valuers, set-off of losses, period of holding of asset etc. It is pointed out that clarity on these issues is vital for the success of the Scheme. The professionals have requested the Hon’ble Revenue Secretary to issue an early clarification on all the issues raised in the representation