Hon’ble Finance Minister Pranab Mukherjee addressed the top brass of the CBEC yesterday (4.6.2012) in which he warned that in the drive to collect more revenue, the assessees should not be “unduly burdened“. He cautioned the department to ensure that their actions did not hinder the smooth conduct of any bona fide activity of an honest and law-abiding tax payer and did not, in any way, add to his legitimate compliance cost. He emphasized that the department had to strive to build a transparent and hassle-free tax regime where the assessee voluntarily complies with the statutory requirements and dreads any breach of regulatory provisions and procedures
itatonline.org
Only the latest & most important updates on taxation
Training Programme on “International Taxation & Transfer Pricing”
Shri. G. E. Veerabhadrappa, the Hon’ble President of the Tribunal, has arranged a residential training programme on International Taxation and Transfer Pricing for the Hon’ble Members of the Tribunal at Mumbai from 11th to 20th August 2012
Notification Appointing IRS Officers As Assistant Commissioners of Income-tax
The CBDT has issued Notification No. 10 of 2012 dated 31.5.2012 stating that the President has appointed several IRS (IT) officers in the grade of Assistant Commissioner of Income-tax in the pay scale of Rs. 15,600 to Rs. 39,100 with effect from the dates stated against their names
CBDT’s Clarification On Reopening Assessments Due To Retro Law in FA 2012
The Finance Minister had stated that a letter would be issued by the CBDT regarding reopening of completed assessments on accounts of the retrospective amendments in the Finance Act 2012. That letter is set out below:
Press Release reg FM’s statement on retrospective law & TDS on software
On the issue of retrospective amendment, Union Finance Minister, Shri Pranab Mukherjee has said that he had given a commitment in the Parliament with regard to retrospective amendments that CBDT will issue a policy circular to clarify that in cases where assessment proceedings have become final before first day of April, 2012; such cases shall not be reopened. Now CBDT has issued a circular in this regard, the Finance Minister has stated
Transfer of Hon’ble ITAT Member (May 2012)
Vide Order passed in pursuance of the consultation of the collegium of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, Shri R.S. Padvekar, Judicial Member, Mumbai has been transferred, in public interest, in the same capacity to the Pune Bench of the Income tax Appellate Tribunal with effect from the forenoon of 04.06.2012
CBDT Seeks Interns For Foreign Tax & Tax Research Division
The CBDT has issued a circular dated 28.05.2012 stating that it has launched an internship programme in the Foreign Tax & Tax Research Division. The objective is to enable the department to critically analyze various aspects of International Taxation, Transfer Pricing, Advance Pricing Agreements etc on the basis of refreshing ideas from the filed of academics. A stipend is payable. The terms and conditions are stated in the Circular
Download Finance Act 2012
The Finance Act 2012 as approved by the President on 28.05.2012 is available for download
Law Ministry’s Press Release On Complaints Against Judges & Vacancies
Law Ministry’s Press Release On Complaints Against Judges & Vacancies
CBDT Instruction On Grant Of TDS Credit For AY 2011-12
CBDT Instruction No. 4/2012 [F. No. 225/34/2011-ITA.II], dated 25-5-2012 On Processing Of Returns For AY 2011-12
Recent Comments