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Bitcoin-based earnings subject to taxation, clarifies CBDT Chairman
Updated : 8 years, 1 month ago IST
New Delhi [India], Feb 6 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday clarified that money earned from bitcoins would be applicable for taxation.
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CBDT Chief backs better treatment for 'best taxpayers'
Updated : 8 years, 1 month ago IST
New Delhi [India], Feb 6 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday called for better treatment to salaried employees, hailing them to be the "best taxpayers" in the country.
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CBDT responds to queries regarding long-term capital gains taxation
Updated : 8 years, 1 month ago IST
New Delhi [India], Feb.5 (ANI): Responding to frequent queries regarding taxation of long-term capital gains as proposed in the Finance Bill, 2018, the Central Board of Direct Taxes (CBDT) on Sunday gave answers in the form of Frequently Asked Questions or FAQs. This form is now available on
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Deposited Rs. 15lakh during demonetisation? You could be in trouble
Updated : 8 years, 1 month ago IST
New Delhi [India], Feb 3 (ANI): The Income Tax (IT) department has issued nearly two lakh notices to persons who deposited unaccounted sum of Rs. 15 lakh or more in their accounts during the demonetisation period in November 2016.
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Financial Institutions to ensure US TIN for pre-existing accounts is repor
Updated : 8 years, 2 months ago IST
New Delhi [India], Jan 15 (ANI): All Indian Reporting Financial Institutions (RFIs) are to ensure that the United States Tax Identity Number (TIN) is reported of each pre-existing account for the year 2017 onwards, in compliance of the Inter-Governmental Agreement (IGA) signed between India
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CBDT notifies India, US signing of IGA under Foreign Account Tax Complianc
Updated : 8 years, 2 months ago IST
New Delhi [India], Jan 15 (ANI): Central Board of Direct Taxes (CBDT) on Monday announced that India and USA had signed the Inter-Governmental Agreement (IGA) under Foreign Account Tax Compliance Act (FATCA) in 2015.
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IT Dept reports significant hike in prosecutions against tax evaders
Updated : 8 years, 2 months ago IST
New Delhi [India], Jan 12 (ANI): In a bid to curb the black money menace in the country, the Income Tax (IT) Department on Friday reported that it has substantially increased criminal prosecution proceedings initiated in a large number of cases of tax offenders and evaders.
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Direct Tax collected up to December '17 registers 18.2 pct growth
Updated : 8 years, 2 months ago IST
New Delhi [India], Jan 9 (ANI): The provisional figures of Direct Tax collections up to December, 2017 show that net collections are at Rs. 6.56 lakh crore, which is 18.2 percent higher than the net collections for the corresponding period last year.
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Govt relaxes provisions for levying Minimum Alternate Tax
Updated : 8 years, 2 months ago IST
New Delhi [India], Jan 6 (ANI): In a bid to minimise the hardship faced by companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016, the Centre on Saturday announced a relaxation in the provisions relat
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Uttarakhand CM's immovable assets to be re-evaluated
Updated : 8 years, 2 months ago IST
New Delhi [India], Dec 31 (ANI): The Election Commission of India on Sunday directed the Central Board of Direct Taxes (CBDT) to re-evaluate Uttarakhand Chief Minister Trivendra Singh Rawat's immovable assets, which were declared by him in the nomination papers for the state legislative asse
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CBDT signs three more APAs in Dec
Updated : 8 years, 2 months ago IST
New Delhi [India], Dec 29 (ANI): The Central Board of Direct Taxes (CBDT) has entered into three more Advance Pricing Agreements (APAs) in December 2017.
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Direct Tax collected for FY 2017-18 up by 14.4%
Updated : 8 years, 3 months ago IST
New Delhi [India], Dec 9 (ANI): The provisional figures of direct tax collections up to November this year show the net collections are 14.4 per cent higher than those for the corresponding period of last year.
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