G.S.R. 694(E).In exercise of the powers conferred by section 199 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—...

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The Central Board of Direct Taxes ('Board'), in exercise of its powers under section 119 of the Income-tax Act,1961 ('Act') and in accordance with provision of section 2(23C) of the Act, hereby directs as under:...

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S.O ........... (E).- In exercise of the powers conferred under sub-section (2) of section 139AA of the Incometax Act, 1961 (,Act')(43 of 1961), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue) dated 31st March,2019, published in the Gazette of Indi a, Extraordinary, Part-II, Section 3, sub-section (ii) vide S.O. number 149S(E) dated OPt Apri1,2019....

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Order under section 119 of the Income-tax Act, 1961 - Extension of due-date...

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The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the O1st day of April, 2019. Subsequently; instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms was also released. After notification of the ITR forms, various queries were raised by the stakeholders in respect of filling-up of the ITR forms. The queries were examined in the Board and clarifications were issued to...

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The undersigned is directed to refer to Circular No. 23 of 2019 dated 6th September, 2019 and to say that by virtue of powers of the Central Board of Direct Taxes u/s 268A of Income-tax Act,1961, the monetary limits fixed for filing appeals before ITAT/HC and SLPs /appeals before Supreme Court shall not apply in case of assesses claiming bogus LTCG/STCL through penny stocks and appeals/SLPs in such cases shall be filed on merits....

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The Central Board of Direct Taxes (CBDT) has been issuing guidelines from time to time for compounding of offences under the Direct Tax Laws, prescribing the eligibility conditions. One of the cond itions fo r filing of Compounding application is that, it should be filed with in 12 months from filing of complaint in the court....

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Reference is invited to the Circulars issued from time to time by Central Board of Direct Taxes (the Board) under section 268A of the Income-tax Act,1961 (the Act), for laying down monetary limits and other conditions for filing of departmental appeals before Income Tax Appellate Tribunal (ITA T), High Courts and SLPs/appeals before Supreme Court. 2. Several references have been received by the Board that in large number of cases where organised tax-evasion scam is noticed through bogus Long-...

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The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the 01st day of April, 2019. Subsequently, instructions for filing ITR forms were issued and the software utility for efiling of all the ITR forms were also released. After notification of the ITR forms, various queries were raised by the stakeholders in respect of filling-up of the ITR forms. The queries were examined in the Board and a clarification was issued vi...

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Reference is invited to the Circular No.3 of2018 dated 11.07.2018 (the Circular) of Central Board of Direct Taxes (the Board) and its amendment dated 20th August. 2018 vide which monetary limits for fi ling of income tax appeals by the Department before Income Tax Appellate Tribunal. High Courts and SLPs/appeals hefore Supreme Court have been specified. Representation has also been received that an anomaly in the said circular at para 5 may be removed....

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The Income-tax return (ITR) forms for the Assessment Year (AY) 2019-20 were notified vide notification bearing G.S.R. 279(E). dated the 1st day April, 2019. Subsequently, the instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms were also released. After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issue...

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F. No.225/148/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block New Delhi, dated,25thJune, 2019 To, All Principal Chief-Commissioners of Income Tax Sir/Madam, Subject:- Sharing of information with Public Sector Banks in case of loan defaulters -reg. Many a time, Public Sector Banks (PSBs) request the Income-tax Department (ITD) to furnish information in respect of immovable assets of a loan defaulter to enabl...

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Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 10/2019 New Delhi, 04, June, 2019 Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 read with rule 31A(5) and rule 31AA(5) of the Income-tax Rules, 1962 respectively 1. The provisions relating t...

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F .No.275/38/2017 -IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 3rd June 2019 ORDER UNDER SECTION 119 OF THE INCOME-TAX ACT. 1961 With a view to redress genuine hardship of deductors in timely filing of TDS statement in Form 24Q on account of revision of its formal and consequent updating of the File Validation Utility for its online filing, the Central Board of Direct Taxes, in exercise of its powers...

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Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of sections 11 and 12 of the Act. One such condition under clause (b) of subsection (1) thereof is that where the total income of the trust or institution computed without giving effect to section 11 and 12 exceeds the maximum amount not chargeable to income-tax in any previous year, its accounts for that year have been audited by an accountant as defined in the Explanation below sub-section (2) of sectio...

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MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 13th February, 2019 G.S.R. 108(E).—In exercise of the powers conferred by sub-section (1), read with clauses (i), (j), (jj),(jjj) and (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003),the Central Government hereby makes the following rules further to amend thePrevention of Money laundering (Maintenance of Records) Rules, 2005, namely:— 1. (1) These rule...

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MINISTRY OF FINANCE (Department of Revenue) Notification No. 67/2018-Income Tax New Delhi, the 16th October, 2018 S.O. 5323(E).-In exercise of powers conferred by sub-section (1) of section 50 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988) and in consultation with the Chief Justices of the respective High Courts, the Central Government hereby designates the court(s) of Session, as mentioned in Table below, as Special Court(s) for the area(s) specified in th...

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F. No. 225/242/2018/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA.II division) North-Block, New Delhi, the 26th July, 2018 Order under Section 119 of the Income-tax Act, 1961 For certain categories of taxpayers, the ‘due-date’ of filing income-tax return for assessment-year 2018-2019 is 31.07.2018. Upon consideration of the matter, the Central Board of Direct Taxes, in exercise of its powers under section 11...

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GOVERNMENT OF INDIA MINISTRY OF LAW AND JUSTICE DEPARTMENT OF LEGAL AFFAIRS **** CIRCULAR Subject: Applications for appointment to the posts of Member (Judicial/ Accountant), Income Tax Appellate Tribunal. **** In exercise of the powers conferred by section 252 of the Income-Tax Act, 1961, the Central Government has constituted the Income Tax Appellate Tribunal to hear appeals against the orders passed by various authorities stated in section 253 of the Act. 2. Applications a...

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F.No.225/270/2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, dated the 30th of June, 2018 Order under Section 119 of the Income-tax Act, 1961 Vide its orders dated 31.07.17, 31.08.17, 08.12.17 & 27.03.18, in file of even number, CBDT had allowed time till 30th June, 2018 to link PAN with Aadhaar while filing the tax-returns. Upon consideration of the matter, the CBDT further extend...

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S.O. 1517(E).—In exercise of the powers conferred by section 295, read with sub-clause (ii) of clause (14) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-...

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The following Act of Parliament received the assent of the President on the 29th March, 2018, and is hereby published for general information:— THE FINANCE ACT, 2018, NO. 13 OF 2018...

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[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No.12/2018 – Central Tax New Delhi, the 7th March, 2018 G.S.R……(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rule...

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[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No. 13/2018 – Central Tax New Delhi, the 7th March, 2018 G.S.R…. (E).- In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council,...

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DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Center, Ground Floor, E-2, Jhandewalan Extension F.No: DGIT(S)-3/AST/Processing of CASS Cases/101/2016-17/2 Date: 07.02.2018 Sir/Madam, Subject: Pendency of processing u/s 143(1) for ITR paper and E-filed Returns-regarding As you may be aware, the time barring date for processing of paper ITRs for AY 2016-17 and few belated ITRs of AY 2015-16 is 31.03.2018. Same applies to all e-filed Returns for the AY 2016-17 and belated ITRs of AY 2015-16 ...

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F.No. 370149/20/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 4th February, 2018 Subject: Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018-reg. Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt f...

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F. No. 275/38/2017-IT(B) GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES North Block, New Delhi Date: 13th December, 2017 ORDER UNDER SECTION 119 OF THE INCOME-TAX ACT, 1961 Due to certain technical issues faced by NSDL’s gateway for e-payment of tax on 7th November, 2017, some taxpayers/ deductors were unable to make e-payment of tax deducted/ collected for certain period on that date. In order to redress genuine hardsh...

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Under the provisions contained in section 9(1 )(i) of the Income-tax Act, 1961 ('Act'), all income accruing or arising, whether directly or indirectly, through or from any business connection in India, or through or from any property in India, or through or from any asset or source of income in India or through the transfer of a capital asset situate in India, shall be deemed to accrue or arise in India. Explanations 5, 6 and 7 of section 9(1 )(i) further define the scope of said provisi...

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F.No. 225/ 287 /2017/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 18th August, 2017 To All Pr. Chief Commissioners of Income Tax, Sir, Subject: Functioning of Regional Committees to deal with Tax Payer Grievances from High Pitched Assessments-reg. Kindly refer to the above mentioned subject. 2. In April, 2017, Board had called for all India information regarding functioning of Regional Committees to dea...

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Central Government notified the Indian Accounting Standards (Ind AS) which are converged with International Financial Reporting Standards (IFRS) vide Companies (Indian Accounting Standards) Rules, 2015. Consequently, the Finance Act, 2017, has amended the provisions of section 115JB of the Income-tax Act, 1961 (‘the Act’) for Ind AS compliant companies w.e.f. 1st day of April, 2017 (A.Y. 2017-18). The Central Board of Direct Taxes ('the Board ') has received representations f...

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