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Download Finance Bill 2017 With Key Highlights, Speech Of Finance Minister And Explanatory Memorandum

The Finance Bill 2017 was introduced today, 1st February 2017, in Parliament. A copy of the Finance Bill 2017, together with the key highlights, speech of the Hon’ble Finance Minister and the Explanatory Memorandum, is available for download

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CBDT Orders Of Postings And Transfers Of Commissioners Of Income-Tax

The CBDT has vide Order Nos. 14 and 15 of 2017 dated 27.01.2017 ordered the posting and transfer of officers in the grade of Commissioner of Income-tax with immediate effect and until further orders

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CBDT Orders Reg Promotion Of IRS Officers As Joint Commissioners Of Income-Tax

The CBDT has issued Order No. 12 of 2017 stating that the President has extended the ad-hoc appointment of several IRS officers to the grade of Joint Commissioner of Income-tax from 01.01.2017 to 30.06.2017.

The CBDT has also issued Order No. 13 of 2017 dated 25th January 2017 stating that the President has promoted several IRS officers to officiate on regular basis in the grade of Joint Commissioner of Income-tax in the pay band 3 – Rs. 15,600 – 39,100 + (7,600 – Grade Pay) (pre-revised) with immediate effect

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CBDT Issues Circular To Clarify Law On Implementation Of GAAR Provisions Under The Income-Tax Act

The CBDT has issued Circular No. 7 of 2017 dated 27.01.2017 in which it has provided important clarifications on implementation of GAAR (General Anti-Avoidance Rule) provisions under the Income-tax Act, 1961

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CBDT Issues Circular To Clarify Law On Low Tax Effect Circulars

The CBDT has issued Circular No. 5/2017 dated 23.01.2017 in which it has clarified the impact of Circular No. 21/2015 dated 10.12.2015 and Circular No. 8/2016 with regard to the non-filing of appeals by the department in cases where the tax effect does not exceed the specified monetary limits

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Download E-Book On Rules Of Interpretation Of Tax Statutes By N. M. Ranka, Sr. Advocate

The Bombay Chartered Accountants’ Society (BCAS) has released a publication titled “Rules of Interpretation of Tax Statutes” which is authored by Shri. N. M. Ranka, an eminent senior advocate. The learned author has dealt with important issues such as the difference between a charging provision and a machinery provision, the rules for interpretation of Double Taxation Avoidance Agreements, the law on retrospective, prospective and retroactive provisions, the principles of “Stare Decisis”, “Ejusdem Generis”, “Non Obstante” etc, etc. The learned author has also referred to all the important judgements on the subject. The e-book will prove invaluable to all tax payers and tax professionals

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CBDT Issues Circular To Clarify Law On Taxation And Investment Regime For PMGKY Scheme

The CBDT has issued Circular No.2 of 2017 dated 18.01.2017 by which it has provided important clarifications on the Taxation and Investment Regime for the Pradhan Mantri Garib Kalyan Yojana, 2016. The PMGKY provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and penalty totaling in all to 49.9 per cent. of such declared income and make a mandatory deposit of not less than 25% of such income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.The Scheme has commenced on 17.12.2016 and shall remain open for declarations/deposit upto 31.03.2017

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CBDT Keeps Circular No. 41/2016 (Taxation Of Indirect Transfers) In Abeyance To Address Concerns Of Stakeholders

The CBDT has issued a press release dated 17.01.2017 stating that it has received representations from various FPIs, FIIs, VCFs and other stakeholders expressing concerns that Circular No. 41/2016 which was issued on 21.12.2016 to deal with clarification on Indirect Transfer provisions, does not address the issue of possible multiple taxation of the same income. The CBDT has stated that pending the examination of the representations, the operation of the above mentioned circular is kept in abeyance for the time being

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Finance Ministry Notifies Effective Date Of India-Cyprus DTAA (Download Full DTAA)

The Ministry of Finance has issued a Notification dated 10.01.2017 stating that all the provisions of the Agreement and Protocol between the Government of Republic of India and the Government of Republic of Cyprus for the avoidance of double taxation and the Prevention of Fiscal evasion with respect to taxes on income shall be given effect to in the Union of India with effect from the 1st day of April, 2017 being the First day of Fiscal year next following the year in which the said Agreement and Protocol entered into force

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CBDT Circular Reg TDS From Salaries U/s 192 Of The Income-Tax Act, 1961 In FY 2016-17

The CBDT has issued Circular No. 01/2017 dated 02.01.2017 in which it has explained in a comprehensive manner the obligation of taxpayers with regard to deduction of tax at source from salaries under section 192 of the Income-tax Act, 1961 for the financial year 2016-17

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