Vide Order No. 67 of 2015 dated 19.05.2015 the CBDT has ordered the transfers and postings of several officers in the grade of Principal Chief Commissioner of Income-tax, Chief Commissioner of Income-tax and Director General of Income-tax with immediate effect and until further orders

The Ministry of Finance has vide Office Memorandum dated 18.05.2015 invited applications for appointment to the post of “Income Tax Ombudsman”. The vacancy of “Income Tax Ombudsman” at Kochi will fall vacant in June 2015. The post of “Income Tax Ombudsman” carries a pay scale of Rs.75500-80000. Interested candidates are requested to forward their application by 22.06.2015 indicating their preferred location

The Finance Act 2015, as approved by the Hon’ble President on 14th May 2015 and as published in the Official Gazette is available for download Click here to download Finance Act 2015

Hon’ble Ms. Anita Kapur, Chairperson of the CBDT, has addressed a letter dated 8th May 2015 to the Principal Chief Commissioners, Director Generals etc pointing out that the number of existing income tax payers is low compared to the potential and that the gap between the potential and the actual tax payers appears to be wider in the case of tier-II cities and towns. Ms Kapur has stated that considering the priorities of the Government and the need to widen the tax base, a concerted and focused effort in mission mode is required. She has called upon the department to strive for adding at least 25 lakhs new assesses per month during the current financial year

The CBDT has issued a letter dated 11th May 2015 on the issue of “Imposition of Minimum Alternate Tax (MAT) on foreign companies particularly FIIs“. The CBDT has stated that in the light of the constitution of the Justice A. …

Important CBDT Directive On Applicability Of MAT To Foreign Cos And FIIs Read More »

Vide Order No. 60 of 2015 dated 08.05.2015 the CBDT has ordered the transfers and postings of several officers in the grade of Principal Chief Commissioner of Income-tax, Chief Commissioner of Income-tax and Director General of Income-tax with immediate effect and until further orders

Taxmann has made available the amendments made to the Finance Bill 2015 as passed by the Lok Sabha on 30th April 2015. Taxmann has also summarized all the important changes made in the Finance Bill 2015

It has come to the notice of the Board that several Foreign Institutional Investors receiving income from transactions in securities claim such income as exempt from tax under the Income-tax Act, 1961(‘the Act’) by availing benefit provided in the Double Taxation Avoidance Agreements (‘DTAAs’) signed between India and their respective countries of residence

Transfers And Posting Orders Of Assistant Commissioners of Income-tax and Deputy Commissioners of Income-tax By CDBT

The CBDT has issued Circular No. 05 of 2015 dated 9th April 2015 explaining the chargeability of interest under section 17B of the Wealth-tax Act, 1957 on self-assessment tax paid before the due date of filing of return of net welath