Author: editor

Imp CBDT Circular Regarding Taxability Of Salaries Of Non-Resident Seafarers Credited To NRE Accounts Maintained With Indian Banks

The CBDT has issued Circular No. 13/2017 dated 11.04.2017 in which it has clarified the law regarding Liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (Non Resident External) account maintained with an Indian Bank. This Circular is important in view of the law laid down by the Kolkata Bench of the Tribunal in Tapas Kumar Bandopadhyay vs. DDIT where it was held that even if the salary of a non-resident seaman accrued outside India, it was taxable in India if the employer credited it to the assessee’s NRE account. In Utanka Roy vs. DIT (Calcutta High Court) it was clarified that salary received by a non-resident for services rendered abroad accrues outside India and is not chargeable to tax in India. The source of the receipt is not relevant.

Posted in All Information, Others

Bombay High Court’s Tax Bench Constitution w.e.f 10.04.2017

The Constitution of the Bombay High Court’s Tax Bench w.e.f 10.04.2017 is as follows

Posted in All Information, Supreme Court/High Court related

Assessing Officer Sentenced To 10 Years Imprisonment For Demanding Bribe Of Rs. 5 Lakh

The crackdown against corrupt officials of the income-tax department is continuing unabated. In the latest move, an Assessing Officer has been sentenced to imprisonment for 10 years for demanding and accepting a bribe of Rs. 5 lakh from a taxpayer

Posted in All Information, Others Tagged with: ,

CBDT Clarifies Imp Law On Cash Transaction Limits Imposed By Sections 269ST And 271DA

The CBDT has issued a press release dated 5th April 2017 by which it has provided important clarification regarding the restriction imposed on cash transaction by sections 269ST & 271DA inserted by the Finance Act 2017 to the Income-tax Act. These sections provide that no person (other than those specified therein) shall receive an amount of two lakh rupees or more (a) in aggregate from a person in a day; (b) in respect of a single transaction; or (c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account. The CBDT has clarified that the said cash transaction limit of Rs 2 lakh will not apply to withdrawal from banks, cooperative bank and post offices

Posted in All Information, Others

Four Vice Presidents For The ITAT Appointed. Appointment Of President & Four More Vice Presidents Awaited

After an inordinate delay, the Government has appointed four Vice Presidents for the ITAT. However, as the vacancies are for eight Vice Presidents, four more are required to be appointed on an emergent basis. Further, a permanent President of the Tribunal is also required to be appointed

Posted in All Information, ITAT related, Transfers/apptts

Download Finance Act 2017

The Finance Act 2017 received the assent of the President on the 31st March, 2017. A copy is available for download. There are several important and radical amendments made by the Finance Act 2017 to the Income-tax Act 1961 and other statutes

Posted in All Information, Others

CBDT Orders Of Promotion Of Chief Commissioners And Appointment Of Assistant Commissioners Of Income-Tax

The CBDT has vide Order No. 46 of 2017 dated 31.03.2017 promoted several officers to the grade of Chief Commissioner of Income-tax [HAG + scale of pay (Rs. 75,500 – 80,000) (pre-revised) w.e.f. the date of assumption of charge of the post.

The CBDT has vide Order No. 45 of 2017 dated 31.03.2017 appointed several officers as Assistant Commissioners of Income-tax in the pay scale of Rs. 15,600 – 39,100 on completion of training at National Academy of Direct Taxes (NADT).

Posted in All Information, Others

Advocates To Go On Strike To Protest ‘Anti-Strike’ Law

The Bar Council of India has issued a directive dated 27.03.2017 that all Bar Councils and Bar Associations should abstain from work on 31st March 2017 to protest the proposed amendments to the Advocates Act 1961 by the Amendment Bill 2017. It is claimed that the proposed amendments are “undemocratic” and “anti-lawyers

Posted in All Information, Supreme Court/High Court related

CBDT Appoints IRS Officers As ACsIT And Promotes ACsIT To DCsIT

The CBDT has issued two notifications, both dated 29th March 2017, relating to the appointment of Assistant Commissioners of Income-tax and the promotion of Assistant Commissioners to the grade of Deputy Commissioners of Income-tax

Posted in All Information, Others

Bombay High Court’s Tax Bench Constitution w.e.f 27.03.2017

The Constitution of the Bombay High Court’s Tax Bench w.e.f 27.03.2017 is as follows

Posted in All Information, Supreme Court/High Court related

If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook

IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder