Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE 18thOctober, 2014 Press Release on the filing of I.A. No. 14 in WP(C) No. 176 of 2009 (Ram Jethmalani & Ors V. Union of India), by Union of India Union of India has filed I.A. No. 14 seeking the following clarifications with regard to theorders dated 4.7.2011and 1.5.2014, passed by the Hon’ble Supreme Court of India in WP(C) 176 of 2009 (Ram Jethmalani & Ors V. Union...

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Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes PRESS RELEASE 17thOctober, 2014 Last date of filing of the TDS/TCS Statements for the 2ndQuarter ofFinancial year 2014-15 for the deductors/collectors in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana extended. In view of the recentnaturalcalamities in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana, the Central Board of Direct Taxes has issued an ...

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F. No. 178/84/2012-ITA.I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No. 14/2014 New Delhi, the 8th October, 2014 Subject : Clarification regarding allowability of deduction under section 10 A/ 10AA on transfer of Technical Man-power in the case of software industry. CBDT had issuedCircular No.12/2014 dated 18thJuly, 2014to clarify that mere transfer or re-deployment of existing technical manpower from an existing unit to a new...

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Instruction No. 07/2014 Government of India Ministry of Finance Department of Revenue (CBDT) Room No. 143E, North-Block, New-Delhi Dated the 26thof September, 2014 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioners of Income-tax All Pr. Directors-General of Income-tax/Directors-General of Income-tax Sir/Madam Subject: - Scope of enquiry in cases selected for scrutiny during the Financial Year 2014-2015 on basis of AIR/CIB /26AS mis-match-regarding. It has come to...

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F.No.153/53/2014-TPL (Pt.I) GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES)**** North Block, TPL DivisionNew Delhi, the 26th September, 2014Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 ("the Act") read with rule 6G of the Income-tax Rules, 1962 ("the Rules") requires certain persons to file tax audit report in Form No.3CA/Form No.3CB along with prescribed particulars in Form No.3CD. Vide Notification ...

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F.No.290/27/2013-Dir(inv.IV)/821 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE C ENTRAL BOARD OF DIRECT TAXES NEW DELHI-110055 Dated: September 15, 2014 OFFICE MEMORANDUM Subject: Invitation of suggestions for better management of Suspicious Transaction Reports (STRs) STRs constitute a strategically important source of information for Income Tax department. In the last few years the number of STRs has grown tremendously and is growing further. The departmen...

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Considering the large-scale devastation in the State of Jammu andKashmir, due to the natural calamity, the Central Board of Direct Taxes hasissued an order to extend the date for payment of second instalment of advancetax for companies and first instalment of advance tax for others for FY 2014-15(AY 2015-16) from 15th September, 2014 to 15th December, 2014 in case of allthe tax payers in the State of Jammu and Kashmir. These taxpayers can now paytheir September 2014 instalment of advance tax by ...

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F. No. 225/268/2014/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, the 16thSeptember, 2014 Order under Section 119 of the Income-tax Act, 1961 Considering the large scale devastation in the State of Jammu & Kashmir due to heavy rains and floods, the Central Board of Direct Taxes, in exercise of powers conferred undersection 119of theIncome-tax Act, 1961, hereby extends the `due-date' for...

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Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, North-Block, IT (A-II) Division, New Delhi Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15. Instruction No. 6/2014 Dated- 2nd of September, 2014 Subject: Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15-regd:- In supersession of earlier Instructions on the above subject, the Board hereby lays down the following procedure and criteria ...

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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 2nd September, 2014 The Finance Minister in his budget speech on 10th July, 2014 had made an announcementthat all fresh cases arising out of the retrospective amendments of 2012 in respect of indirecttransfer and coming to the notice of Assessing officer will be scrutinized by a High LevelCommittee to be constituted by Central Board of Direct Taxes (CBDT) before any ac...

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Government of India Ministry of Finance Department of Revenue { Central Board of Direct Taxes } Room No.155, North Block, New Delhi, Dated the 22″d August, 2014. OFFICE MEMORANDUM Subject: Instructions to maintain the schedule of appointments with tax payers etc.-reg. It has been brought to the notice of the Board that some of the officers are issuing notices to the taxpayers/witnesses/representatives etc. indicating a standard time of appointment. Thus, many persons calle...

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MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 13th August, 2014 G.S.R. 588 (E)... — In exercise of the powers conferred by sub-section (4) of Section 3 of the Public Provident FundAct, 1968 (23 of 1968), the Central Government hereby makes the following further amendments to the Public ProvidentFund Scheme, 1968, namely :— 1. (1) This Scheme may be called the Public Provident Fund (Amendment) Scheme, 2014. (2) It shall come into force from...

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F.No.133/24/2014-TPL GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Room No. 147 B-II, North Block New Delhi, the 20th August, 2014 Order Under Section 119 of the Income-tax Act, 1961 In exercise of power conferred bysection 119of theIncome-tax Act(‘the Act’), the Central Board of Direct Taxes (CBDT) hereby extends the due date for obtaining and furnishing of the report of audit undersection 44ABof theActfor Assessment Ye...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI Circular No. 13/2014, Dated July 28, 2014 Subject: – Clarification regarding taxation of ‘Alternate Investment Funds’ having status of non-charitable trusts under the Income-tax Act, 1961 – regarding. 1. The SEBI (Alterative Investment Funds) Regulations, 2012 (‘AIF Regulations’) vide Regulation No.4 issued in May 2012 aims at regulating all...

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GOVERNMENT OF INDIA MINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES) Notification No.33/2014, Dated: July 25, 2014 S.O. 1902 (E).. In exercise of the powers conferred by section 295 read with section 44AB 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:- 1. (1) These rules may be called the Income Tax (7th Amendment) Rules, 2014. (2) They shall come ...

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F. No. IRSA(AIB)/EC/Res./UK-DR/5 Date: 15thJuly, 2014 To, All Principal Chief Commissioners of Income Tax; Principal Director General of Income Tax (Admn.); Principal Director General of Income Tax (Systems); Principal Director General of Income Tax (Logistics); Principal Director General of Income Tax (HRD); Principal Director General of Income Tax (International Taxation); Principal Director General of Income Tax (Training), NADT; Director General of Income Tax (L&R); Director Ge...

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SECTION 268A OF THE INCOME-TAX ACT, 1961 - APPEALS AND REVISION - FILING OF APPEAL OR APPLICATION FOR REFERENCE BY INCOME-TAX AUTHORITY - REVISION OF MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL, HIGH COURTS AND SUPREME COURT - MEASURES FOR REDUCING LITIGATION INSTRUCTION NO. 5/2014 [F. NO. 279/MISC. 142/2007-ITJ (PT.)],DATED 10-7-2014 Reference is invited to Board'sInstruction No. 3/2011, dated 09/02/2011wherein monetary limits and other conditi...

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NSTRUCTION ON STANDARD OPERATING PROCEDURE ON FILING OF APPEALS/SPECIAL LEAVE PETITIONS (SLPS) BY THE INCOME TAX DEPARTMENT IN THE SUPREME COURT AND RELATED MATTERS REVISED PROFORMA B TO INSTRUCTION NO. 4/2011, DATED 9-3-2011 LETTER [F NO 279/MISC/M-20/2011-1TJ],DATED 1-7-2014 I am directed to enclose a revised Proforma B to theInstruction No 4/2011, dated 09.03.2011for immediate compliance. The same may be brought to the notice of all concerned. Annexure - B Revised Proforma for submission ...

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UPDATE AND VALIDATE TAXPAYER EMAIL ID AND MOBILE NUMBER FOR THEIR E-FILING ACCOUNT PRESS RELEASE,DATED 4-7-2014 A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can logon to: https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Update_Contact_Details.pdf) The Department will send separate One Time Passwords (OTP) also referred as P...

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WEALTH-TAX (FIRST AMENDMENT) RULES, 2014 - SUBSTITUTION OF RULE 3 AND INSERTION OF FORM BB NOTIFICATION NO.32/2014 [F.NO.143/1/2014-TPL]/SO 1576(E),DATED 23-6-2014 In exercise of the powers conferred by clause (ba) and clause (bb) of sub-section (2) of section 46 read with section 14A and section 14B of the Wealth-tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following rules further to amend the Wealth-tax Rules, 1957, namely:— 1.(1) These rules ma...

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S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanationto section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government herebymakes the following amendment in the notification of the Government of India in theMinistry of Finance (Department of Revenue), Central Board of Direct Taxes published inthe Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August,1998, namely:- 2. In the said notification, in the Table, after serial num...

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INCOME-TAX (SIXTH AMENDMENT) RULES, 2014 – AMENDMENT IN RULE 12 AND SUBSTITUTION OF FORMS ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7 NOTIFICATION NO.28/2014 [F.NO.142/2/2014-TPL]/SO 1418(E),DATED 30-5-2014 In exercise of the powers conferred by 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:— 1.(1) These rules may be called the Income-tax(6th Amendment)Rules, 2...

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Income-taxNotificationNo. 28/2014, Dated- 30thday of May, 2014 S.O. 1418(E).─Inexerciseof the powers conferred by 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:- (1) These rules may be called the Income-tax (6thAmendment) Rules, 2014. (2) They shall be deemed to have come into force with effect from the 1st day of April, 2014. 2. In the Inc...

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F. No. 328/10/2014-WT Government of India Ministry of Finance Department ofRevenue (Central Board of Direct Taxes) New Delhi the 28thMay 2014 To The Principal Chief Commissionersof Income Tax Sub: Sharing of asset details as per Return of Wealth with PublicSector Banks-reg. During a review meeting on the performance of PublicSector Banks(PSBs) taken by Finance Minister on 5.3.2014, the PSBs raised concern thatthe detailsof assets as available in theWealth TaxReturns ofloandefaulters are...

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Under Section 264 of the Income Tax Act, 1961 (hereinafter referred to as the Act), theCommissioner of Income Tax (CIT) may, either of his own motion or on an application made bythe assessee, revise an order passed by an authority subordinate to him. The CIT may, beforerevising such, order, make enquiry or cause such enquiry to be made and subject to theprovisions of the Act, pass such order which is not prejudicial to the assessee. 2. The statutory function under section 264 of the Act perf...

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INCOME-TAX (FIFTH AMENDMENT) RULES, 2014 - SUBSTITUTION OF FORMS 49A AND 49AA NOTIFICATION NO. 26/2014 [F.NO.142/15/2013-TPL]/SO 2045(E),DATED 16-5-2014 In exercise of the powers conferred by 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:— 1.(1) These rules may be called the Income–tax (5th Amendment) Rules, 2014. (2) They shall come into force on t...

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The CBDT has vide Order No. 69 of 2014 dated 16.05.2014 ordered the postings of 47officersof the grade of Commissioner/Director ofIncome-tax.Theseofficerswereearlierpromoted vide order no. 32 of 2014 dated 20th February, 2014. Vide another Order No. 70 of 2014 dated 16.05.2014 the CBDT has ordered the posting of 148officerspromoted to the grade of Joint Commissioners/ Joint Directors of Income-tax. Theseofficerswereearlierpromoted to the grade of Joint Commissioners/ Joint Directors of Income...

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SECTION 36(1)(xii) OF THE INCOME-TAX ACT, 1961 - OTHER DEDUCTIONS - CORPORATE OR BODY CORPORATE ESTABLISHED UNDER A STATUTE - EXPENDITURE INCURRED BY - NOTIFIED CORPORATE BODY NOTIFICATION NO.25/2014 [F.NO.225/229/2013/ITA.I],DATED 29-4-2014 In exercise of the powers conferred by clause (xii) of sub-section (1) of section 36 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the National Bank for Agriculture and Rural Developme...

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It has come to the notice of the Board that disputes have arisen as to whether theexpe diture incurred on development and construction of infrastructural facilities likeroad /highways on Build-Operate-Transfer ('BOT') basis with right to collect toll is entitledfor • epreciation under section 32(1)(ii) of the Act or the same can be amortized by treatingit as n allowable business expenditure under the relevant provisions of the Income-tax Act,196 ('Act')...

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8% SAVINGS (TAXABLE) BONDS, 2003 - AMENDMENT IN PARAGRAPH 9 NOTIFICATION NO F.4(10)- W&M/2003,DATED 21-4-2014 The Government of India hereby notifies that sub-paragraph (i) in Paragraph 9 (Applications) of the aforesaid Notification notified on March 21, 2003 shall be substituted by the following sub-paragraph namely:- "(i) Applications for the Bonds may be made in the Revised Form 'A' attached hereto or in any other form as near as thereto incorporating all the fields in the rev...

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