Tag: CBDT
17 Results
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India gets first tranche of citizens’ Swiss Bank info under AEOI agreement with Switzerland
The automatic exchange of information with India is being implemented based on the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA).
October 8, 2019 -
Battle over tax breaks for disabled veterans
A legal battle would commence and the MoF’s directions held in cold storage till the ultimate outcome, which may take years.
July 9, 2019 -
EC calls Revenue Secretary, CBDT chief to discuss ongoing I-T raids amid opposition uproar
Revenue Secretary Ajay Bhushan Pandey and Central Board of Direct Taxes (CBDT) Chairman PC Mody will meet the poll body in Delhi today.
April 9, 2019 -
Govt extends deadline for linking Aadhaar with PAN by 6 months till Sept 30
This is the sixth time the government has extended the deadline for individuals to link their Permanent Account Number (PAN) with Aadhaar.
April 1, 2019 -
CBDT Chairman Sushil Chandra appointed Election Commissioner
With his appointment, the EC now has Sunil Arora as the Chief Election Commissioner and Ashok Lavasa and Chandra as fellow commissioners.
February 14, 2019 -
Direct tax collections for April-November up by 15.7 percent
While the Corporate Income Tax was growing at 17.7 per cent, Personal Income Tax collections were growing at 16 per cent
December 10, 2018 -
68% rise in crorepatis since 2014, tax returns up 80%: CBDT
The CBDT also said the average income of salaried, non-salaried and corporate taxpayers has risen over the last three years.
October 22, 2018 -
Add 1.25-cr fresh tax filers this year: CBDT to I-T dept
The highest filers to be from Punjab, Haryana, Himachal Pradesh and J&K in view of increased economic activities
July 22, 2018 -
Now, independent gender category for transgenders in PAN form
Days after Centre had sought time from the the Supreme Court to provide clarity on the the issue of transgenders linking their 12-digit Aadhaar number to Permanent Account Number (PAN), the Central Board of Direct Taxes (CBDT) on Monday issued a notification recognising transgenders under independent gender category. The government has amended Income Tax rules that will …
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April 10, 2018 -
Taxpayers earning over Rs 1 cr in AY 2015-16 grew 24%: CBDT
While the number of Indian taxpayers earning over Rs 1 crore increased over 23.5 percent to 59,830 during the assessment year 2015-16, the larger number of individuals in this category had Rs 50,889 crore less income than in the previous year, data released by the government showed on Wednesday. According to data from the Central …
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December 20, 2017 -
300 pc jump in PAN applications post note ban: CBDT
There was a 300 per cent jump in the number of applications for PAN (Permanent Account Number) post demonetisation, the CBDT said on Wednesday. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced to scrap high value currency notes …
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November 15, 2017 -
Farmers can be paid Rs 2 lakh in cash: CBDT
Traders can pay farmers up to Rs 2 lakh in cash against the purchase of their wheat produce notwithstanding income tax rules, the Central Board of Direct Taxes has said. The move comes due to disaffection among farmers as they were not being paid even Rs 50,000 in cash for agricultural produce bought under the …
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November 6, 2017 -
CBDT launches online chat to answer taxpayers’ queries
The Central Board of Direct Taxes (CBDT) has launched an online chat service for income taxpayers to enable them to seek answers to their queries relating to direct tax issues. The Income Tax Department’s website now hosts a “Live Chat” window which takes questions on tax matters from Monday to Friday between 10 a.m and …
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October 19, 2017 -
No inconsistency in government data on taxpayers: CBDT
Refuting reports regarding inconsistency in the estimate of the number of taxpayers added after demonetisation, the Central Board of Direct Taxes (CBDT) on Friday clarified that the various government statements referred to different time periods. “It is clarified that there is no inconsistency in the data provided by the government in the statements, as these …
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August 19, 2017 -
Find out potential taxpayers; focus on smaller cities: CBDT to taxmen
With almost 91 lakh new taxpayers brought in the tax net last fiscal, the CBDT has asked the Income Tax Department to increasingly identify those who can pay tax but are not doing so, with a special focus on smaller cities. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has written a letter to …
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July 13, 2017 -
CBDT issues new scrutiny notices with e-facility for taxpayers
The CBDT has notified revised income tax scrutiny notices that will allow taxpayers to conduct their business with the taxman over the Internet without needing to visit the I-T office, hence reducing physical interface between them. The new format pertains to three types of notices that are issued by the taxman under section 143(2) of …
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June 24, 2017 -
Aadhaar must for ITR filing, new PAN from July 1: CBDT
The CBDT on Saturday made it clear that Aadhaar will be a "must" for filing of Income Tax Returns or for obtaining a new PAN from July 1. The policy-making body of the Income Tax Department issued a statement stating that the Supreme Court yesterday had only given a "partial relief" to those who do not …
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June 10, 2017