Tag: Central Board of Direct Taxes

Corporates, individuals challenge taxman’s move to dig out past assessments under old law

Corporates as well as individuals are contesting the Income tax (I-T) department’s move to reopen past assessments under the old law. More than a dozen...

Investigation wing of Income Tax calls the shots in black money cases

When it comes to dealing with matters under the harsh ‘Black Money’ law, tax authorities in India have a different rule: In many cases, the...

New income tax e-filing portal to be launched from June 7, payment services from June 18

The income tax department will launch a new e-filing portal on June 7, which will be integrated to immediately process returns and issue refunds. The...

I-T dept to launch new e-filing portal on June 7

New Delhi: The Income Tax Department on Saturday said it will launch on June 7 a new e-filing portal which would be integrated with immediate...

Former officials from RBI, Sebi and IRDAI join law firm Cyril Amarchand Mangaldas

Three former senior regulators, from the Reserve Bank of India, Securities & Exchange Board of India and the Insurance Regulatory and Development Authority of India,...

Avoid credit card for paying tax if you have a choice

The Central Board of Direct Taxes (CBDT) will launch a new e-filing portal on 7 June. The new website has many features that make it...

NRIs can acquire farmland via inheritance

I’m a US citizen residing in India. For the financial year 2020-21 (the assessment year 2021-22), I will be filing my taxes as a resident...

On CEC’s Table: High-voltage polls, J&K delimitation

While Sushil Chandra, an Indian Revenue Service officer with 39 years of work record, is familiar with the matters of election finance, it is the...

Double taxation sword hangs over NRIs’ heads, SC relief sought

Gaurav Baid, the 27-year old NRI chartered accountant, whose writ petition before the Supreme Court triggered a reaction from India’s direct tax authority, will once...

Recovery continues despite phases of Covid-19 resurgence: Ajay Bhushan Pandey

NEW DELHI: Transactions under the goods and services tax show that the economy is on a continued path of recovery even after a resurgence of...

Interest paid on refinanced loan may get tax break

With the drop in interest rates on home loan, many borrowers are realizing that they are paying fairly high rates in comparison. At times, the...

Tax department allows one-time verification of past income tax returns by September 2020

The tax department has provided a one-time window till September this year to taxpayers who haven’t verified their income tax returns for the assessment years...

Tax relief likely on creation of ‘permanent establishment’

NEW DELHI: India will provide relief to overseas companies with global income that may be subject to tax here because the presence of their key...

I-T department watchful of transactions with companies from tax havens

NEW DELHI: The income tax department will carry out additional due diligence on financial transactions that involve entities from countries or jurisdictions that are considered...

PFRDA plans alternative to compulsory annuity in NPS

The Pension Fund Regulatory and Development Authority (PFRDA) is working on a plan to introduce an alternative to the mandatory annuity that a subscriber has...