Search For "1961"
IT department files 12 fresh cases against Rotomac Pens
Updated : 8 years ago IST
New Delhi [India] Feb. 27 (ANI): Income Tax (IT) Department on Tuesday filed 12 prosecution cases against M/s Rotomac Global (P) Ltd under various sections of the IT Act, 1961.
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6 chargesheets filed against Rotomac owner Vikram Kothari
Updated : 8 years ago IST
New Delhi [India] February 26 (ANI): Six chargesheets have been filed against Rotomac Pens owner Vikram Kothari under various sections of the Income Tax (IT) Act, 1961.
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Centre constitutes task force for drafting a new direct tax law
Updated : 8 years, 3 months ago IST
New Delhi [India], Nov 22 (ANI):The Central Board of Direct Taxes on Wednesday notified that the government has constituted a task force to review the Income-tax Act, 1961, and will draft a new Direct Tax Law in consonance with economic needs of the country.
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CBDT exempts cash sale of agricultural produce from disallowance of expend
Updated : 8 years, 4 months ago IST
New Delhi [India], Nov. 3 (ANI): The Central Board of Direct Taxes (CBDT) on Friday clarified that cash sale of agricultural produce by its cultivator to the trader for an amount less than Rs. 2 lakh will not result in any disallowance of expenditure under section 40A (3) of the Income-tax A
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CBDT issues draft notification of amendment of rule 17A and form 10A
Updated : 8 years, 4 months ago IST
New Delhi [India], Oct 18 (ANI): Central Board of Direct Taxes on Wednesday stated that the Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 ('the Act') w.e.f April 1st, 2018 to the effect that where a trust or an institutio
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CBDT notifies operationalising provisions of secondary adjustment under IT
Updated : 8 years, 6 months ago IST
New Delhi [India], June 19 (ANI): The Central Board of Direct Taxes (CBDT) has notified Rule 10CB of Section 92CE under the Income Tax Act, 1961, operationalising provisions of secondary adjustment.
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CBDT notifies condition of chargeability to STT; claims exemption
Updated : 8 years, 6 months ago IST
New Delhi [India], June 6 (ANI): According to the Central Board of Direct Taxes (CBDT) released notifications, under section 10(38) of the Income-tax Act, 1961, prior to its amendment by Finance Act, 2017 it was provided that the income arising by way of a transfer of long term capital asset
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A 'game changer' test for antibiotic drug resistance
Updated : 8 years, 6 months ago IST
Washington D.C. [USA], Jun 2 (ANI): When a patient is prescribed the wrong antibiotic to treat a bacterial infection, it's not necessarily the physician who is at fault. The current antibiotic assay, standardised in 1961 by the World Health Organization and used worldwide, is potentiall
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CBDT extends due date for furnishing Statement of Financial Transaction
Updated : 8 years, 6 months ago IST
New Delhi [India], May 31 (ANI): The Central Board of Direct Taxes (CBDT) on Wednesday announced extension of the date of filing for Statement of Financial Transaction (SFT) under Section 285BA of the Income-tax Act, 1961, which requires furnishing under Rule 114E of the Income-tax Rules, 19
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Centre notifies exemption from quoting Aadhaar, enrolment ID for certain i
Updated : 8 years, 6 months ago IST
New Delhi [India], May 12 (ANI): The Centre on Friday issued a notification under which four categories of individals will be exempt from quoting Aadhaar, enrolment ID under Section 139AA of the Income-tax Act, 1961.
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CBDT lays out mandatory quoting of Aadhaar; includes PAN applications, fil
Updated : 8 years, 6 months ago IST
New Delhi [India], Apr 5 (ANI): The Central Board of Direct Taxes on Wednesday notified that under the Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides the mandatory quoting of Aadhaar or Enrolment ID of Aadhaar application form for filing of return o
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CBDT seeks suggestion on draft notification of STT chargeability rules
Updated : 8 years, 6 months ago IST
New Delhi [India], Apr. 3 (ANI): The Central Board of Direct Taxes (CBDT) on Monday requested the stakeholders to submit their comments/ suggestions on the draft notification under Section 10(38) of Income Tax Act, 1961.
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